BlackRock (NYSE:BLK) Price Target Lowered to $1,032.00 at TD Cowen

BlackRock (NYSE:BLK) had its price target decreased by TD Cowen from $1,251.00 to $1,032.00 in a research note released on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the asset manager’s stock.

A number of other analysts have also recently weighed in on BLK. Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Barclays cut their price target on BlackRock from $1,210.00 to $950.00 and set an “overweight” rating on the stock in a report on Monday. Wells Fargo & Company increased their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. StockNews.com began coverage on shares of BlackRock in a research report on Sunday. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,099.62.

BlackRock Stock Performance

BLK traded down $40.66 on Wednesday, hitting $856.42. 652,244 shares of the company’s stock were exchanged, compared to its average volume of 939,761. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average of $947.97 and a two-hundred day moving average of $988.95. BlackRock has a twelve month low of $745.55 and a twelve month high of $1,084.22. The firm has a market cap of $132.96 billion, a PE ratio of 20.39, a P/E/G ratio of 1.90 and a beta of 1.38.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business’s revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the business posted $9.66 EPS. On average, research analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were given a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is 49.62%.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the sale, the director now owns 68,433 shares of the company’s stock, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have sold 20,430 shares of company stock worth $21,234,629. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Institutional investors have recently bought and sold shares of the business. IAG Wealth Partners LLC acquired a new stake in shares of BlackRock during the fourth quarter worth approximately $26,000. Investment Management Corp VA ADV acquired a new stake in shares of BlackRock during the 4th quarter valued at $30,000. Collier Financial purchased a new position in shares of BlackRock during the 4th quarter valued at $32,000. Compass Planning Associates Inc acquired a new position in shares of BlackRock in the fourth quarter worth $33,000. Finally, Atwood & Palmer Inc. purchased a new stake in shares of BlackRock during the fourth quarter worth $36,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

About BlackRock

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.