Barclays Boosts BlackRock (NYSE:BLK) Price Target to $1,120.00

BlackRock (NYSE:BLK) had its price target hoisted by Barclays from $1,010.00 to $1,120.00 in a research note released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the asset manager’s stock.

Several other equities analysts have also recently weighed in on BLK. Argus lifted their price objective on shares of BlackRock from $880.00 to $910.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Citigroup upped their price target on BlackRock from $920.00 to $930.00 and gave the company a buy rating in a research report on Tuesday, July 16th. StockNews.com started coverage on BlackRock in a research report on Saturday. They set a hold rating for the company. The Goldman Sachs Group upped their target price on BlackRock from $960.00 to $1,040.00 and gave the company a buy rating in a report on Thursday, October 3rd. Finally, Evercore ISI boosted their price objective on shares of BlackRock from $995.00 to $1,040.00 and gave the company an outperform rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $991.46.

BlackRock Stock Up 0.1 %

Shares of BlackRock stock opened at $991.72 on Monday. BlackRock has a 12-month low of $596.18 and a 12-month high of $1,001.45. The firm has a market capitalization of $147.37 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average is $902.62 and its 200-day moving average is $832.46.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $10.91 earnings per share. Equities analysts anticipate that BlackRock will post 41.73 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $875.03, for a total value of $10,500,360.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,670,194.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,042 shares of company stock valued at $56,857,777 over the last quarter. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares during the period. Capital Research Global Investors grew its position in BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after buying an additional 435,358 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in BlackRock by 2.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after acquiring an additional 46,728 shares in the last quarter. Legal & General Group Plc lifted its position in shares of BlackRock by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after acquiring an additional 22,311 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of BlackRock by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 685,456 shares of the asset manager’s stock valued at $539,673,000 after purchasing an additional 17,087 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

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.