Jefferies Financial Group reaffirmed their hold rating on shares of BlackRock (NYSE:BLK) in a research report report published on Wednesday morning. The brokerage currently has a $427.00 price objective on the asset manager’s stock.
Other equities analysts also recently issued reports about the company. Deutsche Bank reaffirmed a buy rating and issued a $550.00 price objective (down from $559.00) on shares of BlackRock in a research note on Thursday, October 11th. Morgan Stanley dropped their price objective on BlackRock from $607.00 to $600.00 and set a buy rating for the company in a research note on Tuesday, October 9th. UBS Group dropped their price objective on BlackRock from $575.00 to $565.00 and set a buy rating for the company in a research note on Monday, October 8th. JPMorgan Chase & Co. raised their price target on BlackRock from $541.00 to $592.00 and gave the stock a buy rating in a research report on Monday, October 8th. Finally, Argus dropped their price target on BlackRock from $620.00 to $535.00 and set a buy rating for the company in a research report on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. BlackRock has an average rating of Buy and a consensus target price of $523.07.
NYSE BLK traded down $0.64 during mid-day trading on Wednesday, hitting $399.55. The stock had a trading volume of 48,208 shares, compared to its average volume of 726,130. BlackRock has a 52-week low of $360.79 and a 52-week high of $594.52. The company has a market capitalization of $61.79 billion, a P/E ratio of 17.68, a PEG ratio of 1.33 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.07 and a quick ratio of 3.07.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, October 16th. The asset manager reported $7.52 earnings per share for the quarter, beating the consensus estimate of $6.93 by $0.59. BlackRock had a return on equity of 13.72% and a net margin of 39.92%. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the business posted $5.76 EPS. BlackRock’s quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts expect that BlackRock will post 27.75 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 26th. Stockholders of record on Friday, December 7th were issued a dividend of $3.13 per share. This represents a $12.52 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Thursday, December 6th. BlackRock’s dividend payout ratio (DPR) is 55.40%.
In other BlackRock news, Director William E. Ford acquired 2,000 shares of the firm’s stock in a transaction dated Monday, October 22nd. The shares were acquired at an average price of $395.21 per share, for a total transaction of $790,420.00. Following the completion of the acquisition, the director now directly owns 9,466 shares of the company’s stock, valued at $3,741,057.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director J. Richard Kushel sold 2,100 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $419.11, for a total value of $880,131.00. The disclosure for this sale can be found here. 1.75% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Highwater Wealth Management LLC acquired a new position in BlackRock in the fourth quarter valued at $41,000. Moody National Bank Trust Division boosted its holdings in BlackRock by 73.9% in the fourth quarter. Moody National Bank Trust Division now owns 200 shares of the asset manager’s stock valued at $78,000 after acquiring an additional 85 shares during the last quarter. Truvestments Capital LLC acquired a new position in BlackRock in the third quarter valued at $116,000. Canton Hathaway LLC acquired a new position in BlackRock in the third quarter valued at $146,000. Finally, Legacy Advisors LLC boosted its holdings in BlackRock by 79.8% in the third quarter. Legacy Advisors LLC now owns 338 shares of the asset manager’s stock valued at $159,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 82.43% 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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