BlackRock (NYSE:BLK) Price Target Raised to $1,115.00

by · The Cerbat Gem

BlackRock (NYSE:BLK – Free Report) had its price target upped by The Goldman Sachs Group from $994.00 to $1,115.00 in a research report report published on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the asset manager’s stock.

Several other analysts also recently issued reports on the company. UBS Group decreased their target price on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Wall Street Zen upgraded shares of BlackRock to a “hold” rating in a research report on Saturday, May 24th. JPMorgan Chase & Co. reduced their price target on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Wells Fargo & Company lifted their price target on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Finally, TD Cowen reduced their target price on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,102.08.

Check Out Our Latest Analysis on BLK

BlackRock Stock Up 1.8%

Shares of BLK stock opened at $1,049.35 on Friday. The company has a market capitalization of $162.58 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.18 and a beta of 1.41. BlackRock has a one year low of $773.74 and a one year high of $1,084.22. The company’s fifty day moving average price is $962.39 and its 200-day moving average price is $968.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34.

BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts’ consensus estimates of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $9.81 earnings per share. Sell-side analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock’s dividend payout ratio (DPR) is 50.63%.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the transaction, the director now owns 66,034 shares of the company’s stock, valued at $56,261,628.34. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BlackRock

A number of hedge funds and other institutional investors have recently made changes to their positions in BLK. Vanguard Group Inc. grew its holdings in BlackRock by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after acquiring an additional 387,466 shares in the last quarter. Capital World Investors boosted its position in BlackRock by 2.3% during the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock valued at $4,200,450,000 after acquiring an additional 93,844 shares in the last quarter. GAMMA Investing LLC boosted its position in BlackRock by 104,598.9% during the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock valued at $3,312,759,000 after acquiring an additional 3,496,740 shares in the last quarter. Geode Capital Management LLC boosted its position in BlackRock by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager’s stock valued at $3,072,787,000 after acquiring an additional 190,188 shares in the last quarter. Finally, FMR LLC boosted its position in BlackRock by 1.1% during the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager’s stock valued at $2,450,475,000 after purchasing an additional 26,485 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Company Profile

(Get Free Report)

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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