BlackRock Inc. (NYSE:BLK) – Equities research analysts at Gabelli cut their FY2016 EPS estimates for BlackRock in a report released on Wednesday. Gabelli analyst M. Sykes now anticipates that the firm will earn $19.30 per share for the year, down from their prior estimate of $19.32. Gabelli also issued estimates for BlackRock’s Q4 2016 earnings at $5.25 EPS.
Other equities analysts have also issued reports about the stock. Deutsche Bank AG reiterated a “buy” rating and issued a $392.00 price target (up from $372.00) on shares of BlackRock in a research note on Sunday, July 10th. Barclays PLC reiterated a “hold” rating on shares of BlackRock in a research note on Sunday, July 17th. Jefferies Group reiterated a “hold” rating on shares of BlackRock in a research note on Friday, August 5th. Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, Keefe, Bruyette & Woods lowered shares of BlackRock from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $390.00 to $383.00 in a research note on Friday, July 15th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. BlackRock has a consensus rating of “Buy” and a consensus target price of $383.19.
Shares of BlackRock (NYSE:BLK) traded down 0.85% during mid-day trading on Thursday, reaching $348.13. 323,393 shares of the company’s stock traded hands. The firm has a market cap of $57.25 billion, a price-to-earnings ratio of 18.55 and a beta of 1.46. The firm’s 50-day moving average is $365.02 and its 200 day moving average is $357.04. BlackRock has a one year low of $280.55 and a one year high of $376.65.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing the consensus estimate of $4.82 by $0.04. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the firm posted $4.96 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were issued a dividend of $2.29 per share. This represents a $9.16 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Wednesday, August 31st. BlackRock’s dividend payout ratio is presently 48.83%.
In other BlackRock news, Director J. Richard Kushel sold 8,000 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of $356.55, for a total value of $2,852,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan Stork sold 1,400 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $367.24, for a total value of $514,136.00. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NN Investment Partners Holdings N.V. acquired a new position in BlackRock during the first quarter valued at about $274,000. Bessemer Group Inc. boosted its position in BlackRock by 628.0% in the first quarter. Bessemer Group Inc. now owns 2,155 shares of the company’s stock valued at $734,000 after buying an additional 1,859 shares during the last quarter. Ropes Wealth Advisors LLC boosted its position in BlackRock by 35.3% in the first quarter. Ropes Wealth Advisors LLC now owns 387 shares of the company’s stock valued at $132,000 after buying an additional 101 shares during the last quarter. ING Groep NV boosted its position in BlackRock by 3,315.9% in the first quarter. ING Groep NV now owns 53,118 shares of the company’s stock valued at $18,079,000 after buying an additional 51,563 shares during the last quarter. Finally, Ancora Inverness LLC boosted its position in BlackRock by 91.8% in the first quarter. Ancora Inverness LLC now owns 1,218 shares of the company’s stock valued at $415,000 after buying an additional 583 shares during the last quarter. Hedge funds and other institutional investors own 81.58% of the company’s stock.