Other equities research analysts also recently issued reports about the company. Deutsche Bank increased their price target on BlackRock from $543.00 to $546.00 and gave the stock a buy rating in a report on Wednesday, November 27th. Wells Fargo & Co reiterated a hold rating on shares of BlackRock in a research report on Tuesday, October 15th. BMO Capital Markets started coverage on shares of BlackRock in a research note on Monday, October 7th. They issued a market perform rating and a $547.00 price objective on the stock. Credit Suisse Group set a $567.00 target price on shares of BlackRock and gave the stock a buy rating in a research note on Thursday, September 12th. Finally, Morgan Stanley lifted their target price on shares of BlackRock from $547.00 to $554.00 and gave the company an overweight rating in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. BlackRock presently has a consensus rating of Buy and an average price target of $507.34.
Shares of BLK stock opened at $485.76 on Tuesday. The stock’s 50-day moving average price is $475.23 and its 200 day moving average price is $451.43. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $76.40 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 1.74 and a beta of 1.54. BlackRock has a 52-week low of $360.79 and a 52-week high of $496.90.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Thursday, December 5th. BlackRock’s dividend payout ratio is presently 49.02%.
In other news, Director J. Richard Kushel sold 2,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $446.74, for a total transaction of $893,480.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jerkovic Milan 2,522,596 shares of BlackRock stock in a transaction on Wednesday, October 9th. Insiders sold 6,095 shares of company stock valued at $2,900,567 in the last quarter. 1.42% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in BLK. BancorpSouth Bank boosted its stake in shares of BlackRock by 8.6% during the 2nd quarter. BancorpSouth Bank now owns 14,321 shares of the asset manager’s stock worth $6,721,000 after acquiring an additional 1,131 shares in the last quarter. Heritage Way Advisors LLC raised its holdings in BlackRock by 1.4% during the second quarter. Heritage Way Advisors LLC now owns 5,977 shares of the asset manager’s stock worth $2,805,000 after purchasing an additional 80 shares during the last quarter. Cumberland Partners Ltd raised its holdings in BlackRock by 365.2% during the second quarter. Cumberland Partners Ltd now owns 8,802 shares of the asset manager’s stock worth $4,131,000 after purchasing an additional 6,910 shares during the last quarter. Provident Investment Management Inc. boosted its position in BlackRock by 12.9% during the third quarter. Provident Investment Management Inc. now owns 58,584 shares of the asset manager’s stock worth $26,107,000 after purchasing an additional 6,696 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in BlackRock by 2.9% during the third quarter. Envestnet Asset Management Inc. now owns 195,491 shares of the asset manager’s stock worth $87,118,000 after purchasing an additional 5,442 shares in the last quarter. Hedge funds and other institutional investors own 81.36% 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.
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