Brokerages Set BlackRock, Inc. (NYSE:BLK) PT at $764.75

BlackRock, Inc. (NYSE:BLK – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $764.75.

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price target on BlackRock from $814.00 to $800.00 and set a “buy” rating on the stock in a research report on Wednesday, October 11th. JPMorgan Chase & Co. dropped their price target on BlackRock from $736.00 to $708.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. StockNews.com initiated coverage on BlackRock in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Bank of America dropped their price objective on BlackRock from $921.00 to $868.00 in a research report on Wednesday, October 4th. Finally, Morgan Stanley raised their price objective on BlackRock from $836.00 to $897.00 and gave the company an “overweight” rating in a research report on Monday, October 16th.

View Our Latest Research Report on BlackRock

BlackRock Stock Performance

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NYSE:BLK opened at $727.14 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.72 and a current ratio of 3.72. The stock’s fifty day moving average is $653.50 and its 200 day moving average is $677.87. BlackRock has a fifty-two week low of $596.18 and a fifty-two week high of $781.77. The firm has a market capitalization of $108.17 billion, a PE ratio of 20.40, a PEG ratio of 2.26 and a beta of 1.28.

BlackRock (NYSE:BLK – Get Free Report) last released its earnings results on Friday, October 13th. The asset manager reported $10.91 earnings per share for the quarter, topping analysts’ consensus estimates of $8.34 by $2.57. BlackRock had a return on equity of 14.65% and a net margin of 30.66%. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter last year, the firm posted $9.55 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that BlackRock will post 36.44 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Thursday, December 7th will be paid a $5.00 dividend. This represents a $20.00 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, December 6th. BlackRock’s dividend payout ratio (DPR) is presently 56.10%.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 15,385 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $652.03, for a total value of $10,031,481.55. Following the completion of the sale, the chief executive officer now directly owns 435,260 shares in the company, valued at $283,802,577.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of BlackRock by 98,608.8% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 96,772,169 shares of the asset manager’s stock worth $66,883,117,000 after purchasing an additional 96,674,131 shares during the last quarter. State Street Corp raised its position in BlackRock by 2.3% during the second quarter. State Street Corp now owns 6,152,336 shares of the asset manager’s stock valued at $4,252,126,000 after acquiring an additional 138,455 shares in the last quarter. Morgan Stanley raised its position in BlackRock by 3.2% during the third quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after acquiring an additional 104,844 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in BlackRock by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock valued at $2,148,586,000 after acquiring an additional 35,161 shares in the last quarter. Finally, Capital Research Global Investors raised its position in BlackRock by 9.0% during the second quarter. Capital Research Global Investors now owns 3,096,970 shares of the asset manager’s stock valued at $2,140,439,000 after acquiring an additional 255,249 shares in the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

About BlackRock

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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.