Brokerages Set BlackRock (NYSE:BLK) PT at $1,311.06

BlackRock (NYSE:BLK) has earned an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $1,311.0588.

Several research firms have issued reports on BLK. JPMorgan Chase & Co. raised BlackRock from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,389.00 price objective on shares of BlackRock in a research report on Thursday, July 16th. Keefe, Bruyette & Woods lowered shares of BlackRock from a “moderate buy” rating to a “hold” rating in a report on Friday, August 7th. Barclays raised their target price on shares of BlackRock from $1,340.00 to $1,450.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, BMO Capital Markets lifted their price target on shares of BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a report on Friday, July 17th.

Hedge Funds Weigh In On BlackRock

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Capital Management LLC purchased a new position in shares of BlackRock during the 2nd quarter worth $33,847,000. Legal & General Group Plc boosted its holdings in BlackRock by 0.8% in the 4th quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager’s stock valued at $985,331,000 after purchasing an additional 7,457 shares during the last quarter. Varma Mutual Pension Insurance Co purchased a new stake in shares of BlackRock in the 2nd quarter valued at approximately $28,185,000. Haverford Trust Co purchased a new stake in shares of BlackRock during the 2nd quarter valued at approximately $264,500,000. Finally, Liberty One Investment Management LLC lifted its holdings in BlackRock by 30.7% in the first quarter. Liberty One Investment Management LLC now owns 4,861 shares of the asset manager’s stock valued at $4,675,000 after acquiring an additional 1,141 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is among the investors participating in a potential sale of up to a 5.54% stake in Adani Airport Holdings. The investment gives BlackRock exposure to airport infrastructure growth, expanding passenger traffic and related real-estate development. Adani Enterprises to sell stake in airport unit
• Positive Sentiment: BlackRock joined Samsung and other investors in Mistral AI’s €3 billion Series D financing. The deal increases BlackRock’s exposure to the rapidly growing artificial-intelligence sector and could support future private-market investment products, although returns remain uncertain. Mistral AI raises Series D funding
• Positive Sentiment: BlackRock’s BUIDL tokenized Treasury fund is expanding its use as collateral across prime brokers through Securitize. Wider collateral acceptance could accelerate adoption of BUIDL and strengthen BlackRock’s position in blockchain-based asset management. Securitize expands BUIDL collateral use
• Neutral Sentiment: BlackRock participated in the anchor-investor round for India-based rental platform Rentomojo ahead of its IPO. The investment demonstrates continued activity in emerging-market private and public offerings, but its likely near-term effect on earnings and assets under management is limited. Rentomojo IPO anchor round
• Negative Sentiment: Reports that Beacon Pointe hired executives from BlackRock may prompt concerns about talent retention, though the departures do not currently indicate a material impact on operations.
• Negative Sentiment: BlackRock underperformed the broader market in the latest session, suggesting investors were responding primarily to wider market pressure rather than a newly reported deterioration in the company’s fundamentals.

BlackRock Trading Down 2.4%

NYSE:BLK opened at $1,095.40 on Friday. The company has a market cap of $169.64 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.24 and a beta of 1.41. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The company has a 50 day simple moving average of $1,098.89 and a two-hundred day simple moving average of $1,049.58. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating the consensus estimate of $12.69 by $1.22. The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The company’s revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $12.05 EPS. Research analysts forecast that BlackRock will post 55.86 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be given a dividend of $5.73 per share. This represents a $22.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 8th. BlackRock’s dividend payout ratio (DPR) is presently 54.78%.

BlackRock Company Profile

BlackRock, Inc is a global investment management and financial technology company serving institutional and individual investors, governments, and financial professionals. The company offers a range of investment products and services, including mutual funds, exchange-traded funds, separately managed accounts, and alternative investments across equities, fixed income, multi-asset, and other strategies.

BlackRock is also known for its iShares brand of exchange-traded funds, which provides access to markets and asset classes worldwide.