Recent Analysts’ Ratings Updates for BlackRock (BLK)

A number of firms have modified their ratings and price targets on shares of BlackRock (NYSE: BLK) recently:

• 12/23/2024 – BlackRock is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 12/23/2024 – BlackRock had its price target raised by analysts at Citigroup Inc. from $1,150.00 to $1,200.00. They now have a “buy” rating on the stock.
• 12/20/2024 – BlackRock had its price target raised by analysts at Morgan Stanley from $1,245.00 to $1,261.00. They now have an “overweight” rating on the stock.
• 12/15/2024 – BlackRock is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 12/9/2024 – BlackRock had its price target raised by analysts at Barclays PLC from $1,120.00 to $1,220.00. They now have an “overweight” rating on the stock.
• 12/7/2024 – BlackRock is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 11/29/2024 – BlackRock is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 11/21/2024 – BlackRock is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 11/13/2024 – BlackRock is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 11/11/2024 – BlackRock had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $1,105.00 to $1,133.00. They now have a “buy” rating on the stock.
• 11/7/2024 – BlackRock had its price target raised by analysts at Evercore ISI from $1,040.00 to $1,160.00. They now have an “outperform” rating on the stock.
• 11/5/2024 – BlackRock is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 10/28/2024 – BlackRock is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

BlackRock Price Performance

Shares of NYSE:BLK traded up $10.24 during midday trading on Tuesday, hitting $1,049.94. The stock had a trading volume of 42,779 shares, compared to its average volume of 595,735. 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 company has a market capitalization of $162.61 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.28. The company’s 50-day moving average price is $1,023.10 and its 200-day moving average price is $915.99. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the prior year, the company earned $10.91 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts predict that BlackRock, Inc. will post 43.18 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were paid a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio is currently 50.35%.

Insider Buying and Selling

In other news, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of BlackRock

Several large investors have recently modified their holdings of the stock. FSA Wealth Management LLC bought a new position in BlackRock during the third quarter worth $26,000. Fairscale Capital LLC acquired a new position in BlackRock during the 2nd quarter worth approximately $31,000. Reston Wealth Management LLC acquired a new stake in BlackRock in the 3rd quarter valued at $37,000. MFA Wealth Advisors LLC lifted its stake in shares of BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares in the last quarter. Finally, Addison Advisors LLC increased its position in shares of BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

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.