BlackRock (NYSE:BLK) Price Target Raised to $990.00 at Barclays

BlackRock (NYSE:BLK) had its price objective upped by Barclays from $985.00 to $990.00 in a report published on Monday morning, Benzinga reports. They currently have an overweight rating on the asset manager’s stock.

BLK has been the topic of several other reports. Morgan Stanley reduced their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an overweight rating on the stock in a report on Thursday, July 11th. Citigroup increased their price target on shares of BlackRock from $920.00 to $930.00 and gave the company a buy rating in a research note on Tuesday, July 16th. Argus lifted their target price on BlackRock from $880.00 to $910.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods lifted their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an outperform rating in a report on Tuesday, July 16th. Finally, Evercore ISI lifted their price objective on shares of BlackRock from $920.00 to $945.00 and gave the company an outperform rating in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, BlackRock has a consensus rating of Moderate Buy and an average target price of $902.13.

BlackRock Price Performance

Shares of NYSE:BLK opened at $885.54 on Monday. The company’s 50 day moving average is $856.07 and its 200 day moving average is $813.81. The company has a market cap of $131.59 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 1.89 and a beta of 1.30. BlackRock has a twelve month low of $596.18 and a twelve month high of $903.46. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the prior year, the firm posted $9.28 EPS. BlackRock’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that BlackRock will post 41.34 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,042 shares of company stock valued at $79,387,117. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Several hedge funds have recently bought and sold shares of the business. XML Financial LLC boosted its position in shares of BlackRock by 2.6% in the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after purchasing an additional 12 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in BlackRock by 6.1% in the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after buying an additional 13 shares during the period. Forza Wealth Management LLC boosted its holdings in BlackRock by 1.3% during the second quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after buying an additional 13 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in shares of BlackRock by 4.4% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock worth $243,000 after buying an additional 13 shares during the period. Finally, Tortoise Investment Management LLC boosted its position in shares of BlackRock by 17.1% during the second quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock worth $70,000 after purchasing an additional 13 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Company Profile

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.