BlackRock, Inc. (NYSE:BLK) Receives $1,019.62 Average Target Price from Analysts

Shares of BlackRock, Inc. (NYSE:BLK) have been given an average recommendation of “Moderate Buy” by the thirteen research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $1,019.62.

A number of brokerages have weighed in on BLK. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com started coverage on shares of BlackRock in a research report on Friday. They set a “hold” rating on the stock. TD Cowen raised their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company upped their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Barclays boosted their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th.

BlackRock Price Performance

BlackRock stock opened at $1,022.80 on Monday. The stock’s 50 day moving average is $994.93 and its 200 day moving average is $887.71. BlackRock has a one year low of $742.22 and a one year high of $1,068.34. The firm has a market cap of $158.41 billion, a P/E ratio of 25.24, a P/E/G ratio of 1.82 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the firm posted $10.91 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, research analysts expect that BlackRock will post 43.17 EPS for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be paid a $5.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 1.99%. BlackRock’s dividend payout ratio (DPR) is 50.35%.

Hedge Funds Weigh In On BlackRock

Institutional investors have recently modified their holdings of the business. FSA Wealth Management LLC bought a new stake in shares of BlackRock during the 3rd quarter worth $26,000. Fairscale Capital LLC purchased a new stake in BlackRock during the second quarter worth about $31,000. Reston Wealth Management LLC purchased a new position in BlackRock in the third quarter valued at about $37,000. MFA Wealth Advisors LLC grew its position in shares of BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the period. Finally, Addison Advisors LLC increased its stake in shares of BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.