BlackRock (NYSE:BLK) Receives $1,316.18 Average Price Target from Brokerages

BlackRock (NYSE:BLKGet Free Report) has received a consensus rating of “Moderate Buy” from the twenty research firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $1,316.1765.

Several research analysts have recently commented on BLK shares. TD Cowen lifted their target price on BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Evercore ISI raised their price objective on BlackRock from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of BlackRock in a research note on Monday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of BlackRock from $1,305.00 to $1,298.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Finally, BNP Paribas Exane lifted their price target on shares of BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a report on Thursday, October 9th.

View Our Latest Report on BlackRock

Insider Buying and Selling

In other BlackRock news, CFO Martin Small sold 1,258 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $1,043.38, for a total value of $1,312,572.04. Following the sale, the chief financial officer directly owned 6,209 shares of the company’s stock, valued at $6,478,346.42. This trade represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.98% of the stock is currently owned by corporate insiders.

Institutional Trading of BlackRock

A number of large investors have recently modified their holdings of BLK. Welch Group LLC increased its stake in shares of BlackRock by 1.2% in the second quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock valued at $797,000 after purchasing an additional 9 shares during the period. Stanley Laman Group Ltd. increased its position in BlackRock by 2.7% in the 2nd quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock valued at $357,000 after acquiring an additional 9 shares during the period. CNB Bank increased its position in BlackRock by 9.6% in the 2nd quarter. CNB Bank now owns 103 shares of the asset manager’s stock valued at $108,000 after acquiring an additional 9 shares during the period. Magellan Asset Management Ltd raised its stake in BlackRock by 14.3% during the 2nd quarter. Magellan Asset Management Ltd now owns 72 shares of the asset manager’s stock valued at $76,000 after acquiring an additional 9 shares in the last quarter. Finally, FAS Wealth Partners Inc. boosted its position in BlackRock by 1.1% during the 2nd quarter. FAS Wealth Partners Inc. now owns 817 shares of the asset manager’s stock worth $857,000 after acquiring an additional 9 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Key Stores Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

BlackRock Price Performance

Shares of BLK stock opened at $1,070.73 on Tuesday. The firm has a fifty day moving average of $1,069.23 and a two-hundred day moving average of $1,096.78. The firm has a market cap of $166.12 billion, a P/E ratio of 27.53, a P/E/G ratio of 1.69 and a beta of 1.47. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.33 and a quick ratio of 3.33.

BlackRock (NYSE:BLKGet Free Report) last issued its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate of $11.78 by ($0.23). The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a return on equity of 14.80% and a net margin of 26.64%.The business’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the previous year, the business posted $11.46 EPS. As a group, research analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Friday, December 5th were issued a dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. BlackRock’s dividend payout ratio is 53.59%.

About BlackRock

(Get Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

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Analyst Recommendations for BlackRock (NYSE:BLK)

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