BlackRock Inc. (NYSE:BLK) had its price objective lifted by equities research analysts at Deutsche Bank AG from $412.00 to $418.00 in a research report issued to clients and investors on Wednesday, StockTargetPrices.com reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank AG’s target price indicates a potential upside of 17.02% from the company’s current price.
BLK has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $410.00 price target for the company in a research note on Monday, September 19th. Barclays PLC raised their target price on shares of BlackRock from $364.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 24th. Wells Fargo & Co. restated a “hold” rating on shares of BlackRock in a research note on Monday, July 11th. Jefferies Group cut their target price on shares of BlackRock from $359.00 to $357.00 and set a “hold” rating for the company in a research note on Monday, July 11th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of BlackRock in a research note on Tuesday, July 12th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $383.19.
BlackRock (NYSE:BLK) traded up 0.11% during trading on Wednesday, reaching $357.21. 789,321 shares of the company’s stock traded hands. BlackRock has a 52-week low of $280.55 and a 52-week high of $376.65. The company’s 50 day moving average is $366.57 and its 200-day moving average is $356.70. The stock has a market cap of $58.75 billion, a price-to-earnings ratio of 19.03 and a beta of 1.46.
BlackRock (NYSE:BLK) last announced its quarterly 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. The firm earned $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.96 EPS. On average, analysts anticipate that BlackRock will post $19.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were given a $2.29 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $9.16 dividend on an annualized basis and a dividend yield of 2.56%. BlackRock’s dividend payout ratio (DPR) is currently 48.83%.
In other news, Director J. Richard Kushel sold 8,000 shares of BlackRock stock in a transaction on Friday, July 15th. The shares were sold at an average price of $356.55, for a total value of $2,852,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Wagner sold 79,346 shares of BlackRock stock in a transaction on Friday, July 29th. The shares were sold at an average price of $366.35, for a total transaction of $29,068,407.10. Following the completion of the sale, the director now owns 587,365 shares of the company’s stock, valued at approximately $215,181,167.75. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Feltz Wealth PLAN Inc. bought a new stake in BlackRock during the second quarter valued at $126,000. Mycio Wealth Partners LLC raised its stake in BlackRock by 3.3% in the second quarter. Mycio Wealth Partners LLC now owns 379 shares of the company’s stock valued at $130,000 after buying an additional 12 shares in the last quarter. Ropes Wealth Advisors LLC raised its stake 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 in the last quarter. Citizens Financial Group Inc RI raised its stake in BlackRock by 16.1% in the first quarter. Citizens Financial Group Inc RI now owns 389 shares of the company’s stock valued at $133,000 after buying an additional 54 shares in the last quarter. Finally, Financial Architects Inc raised its stake in BlackRock by 7.8% in the second quarter. Financial Architects Inc now owns 431 shares of the company’s stock valued at $148,000 after buying an additional 31 shares in the last quarter. Institutional investors own 81.58% of the company’s stock.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.