BlackRock Inc. (NYSE:BLK) – Research analysts at Jefferies Group boosted their Q3 2016 EPS estimates for BlackRock in a report released on Tuesday. Jefferies Group analyst D. Fannon now expects that the firm will earn $5.10 per share for the quarter, up from their prior forecast of $5.06. Jefferies Group has a “Hold” rating and a $367.00 price target on the stock. Jefferies Group also issued estimates for BlackRock’s Q4 2016 earnings at $5.50 EPS, FY2016 earnings at $19.62 EPS and FY2017 earnings at $23.65 EPS.
BlackRock (NYSE:BLK) last issued its earnings results on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by $0.04. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The firm earned $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter last year, the firm earned $4.96 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year.
BLK has been the topic of several other research reports. Barclays PLC reaffirmed an “equal weight” rating and set a $363.00 price objective on shares of BlackRock in a research note on Wednesday, June 15th. Deutsche Bank AG raised their price objective on BlackRock from $392.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of BlackRock in a research note on Monday, July 11th. Finally, Vetr raised BlackRock from a “hold” rating to a “buy” rating and set a $382.97 price objective on the stock in a research note on Wednesday, August 10th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. BlackRock has an average rating of “Buy” and an average price target of $383.19.
BlackRock (NYSE:BLK) opened at 351.10 on Wednesday. BlackRock has a 52 week low of $280.55 and a 52 week high of $376.65. The stock has a market cap of $57.74 billion, a P/E ratio of 18.71 and a beta of 1.46. The firm has a 50-day moving average price of $365.02 and a 200-day moving average price of $357.04.
Several institutional investors have recently made changes to their positions in BLK. Canandaigua National Bank & Trust Co. boosted its position in shares of BlackRock by 0.5% in the third quarter. Canandaigua National Bank & Trust Co. now owns 3,336 shares of the company’s stock valued at $1,209,000 after buying an additional 16 shares during the last quarter. Capstone Asset Management Co. boosted its position in BlackRock by 1.1% in the third quarter. Capstone Asset Management Co. now owns 18,412 shares of the company’s stock worth $6,674,000 after buying an additional 204 shares during the last quarter. Oakwood Capital Management LLC CA boosted its position in BlackRock by 1.1% in the third quarter. Oakwood Capital Management LLC CA now owns 11,651 shares of the company’s stock worth $4,223,000 after buying an additional 124 shares during the last quarter. Atria Investments LLC boosted its position in BlackRock by 141.3% in the third quarter. Atria Investments LLC now owns 1,930 shares of the company’s stock worth $700,000 after buying an additional 1,130 shares during the last quarter. Finally, Weaver C. Barksdale & Associates Inc. boosted its position in BlackRock by 7.8% in the third quarter. Weaver C. Barksdale & Associates Inc. now owns 2,775 shares of the company’s stock worth $1,006,000 after buying an additional 201 shares during the last quarter. Institutional investors own 81.58% of the company’s stock.
In other news, insider Ryan Stork sold 1,400 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $367.24, for a total value of $514,136.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J. Richard Kushel sold 8,000 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $356.55, for a total value of $2,852,400.00. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were issued a $2.29 dividend. This represents a $9.16 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s payout ratio is 48.83%.
BlackRock Company Profile