Barclays Cuts BlackRock (NYSE:BLK) Price Target to $1,160.00

BlackRock (NYSE:BLK) had its price target cut by Barclays from $1,220.00 to $1,160.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the asset manager’s stock.

Several other research analysts have also recently issued reports on BLK. JPMorgan Chase & Co. increased their price target on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Citigroup raised their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Morgan Stanley upped their price target on shares of BlackRock from $1,245.00 to $1,261.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Evercore ISI raised their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, TD Cowen boosted their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,088.67.

BlackRock Trading Up 5.1 %

Shares of NYSE:BLK opened at $1,012.62 on Monday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $1,029.20 and its 200 day moving average price is $943.81. The company has a market cap of $156.83 billion, a PE ratio of 24.99, a P/E/G ratio of 1.92 and a beta of 1.28. BlackRock has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the company posted $9.66 earnings per share. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. Sell-side analysts anticipate that BlackRock will post 43.18 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is 50.35%.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of BlackRock

A number of hedge funds have recently modified their holdings of BLK. Marino Stram & Associates LLC raised its position in BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after buying an additional 10 shares during the period. Fidelity D & D Bancorp Inc. grew its stake in BlackRock by 3.7% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock valued at $263,000 after acquiring an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its holdings in shares of BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 11 shares during the period. Ballentine Partners LLC lifted its position in shares of BlackRock by 0.3% in the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after purchasing an additional 11 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of BlackRock by 0.4% during the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after purchasing an additional 11 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.