JPMorgan Chase & Co. Boosts BlackRock (NYSE:BLK) Price Target to $864.00

BlackRock (NYSE:BLK) had its target price increased by JPMorgan Chase & Co. from $774.00 to $864.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

BLK has been the topic of several other reports. TD Cowen dropped their price objective on BlackRock from $974.00 to $969.00 and set a buy rating on the stock in a report on Monday, July 8th. Argus boosted their price target on shares of BlackRock from $880.00 to $910.00 and gave the stock a buy rating in a report on Tuesday, July 16th. UBS Group decreased their price objective on shares of BlackRock from $842.00 to $837.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $912.00 to $937.00 and gave the stock a buy rating in a research report on Thursday, August 15th. Finally, Evercore ISI lifted their price objective on BlackRock from $920.00 to $945.00 and gave the stock an outperform rating in a 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’s stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of Moderate Buy and a consensus price target of $925.07.

BlackRock Trading Down 0.6 %

Shares of NYSE:BLK opened at $951.49 on Tuesday. The company has a market capitalization of $141.39 billion, a PE ratio of 24.18, a PEG ratio of 2.05 and a beta of 1.30. BlackRock has a 12-month low of $596.18 and a 12-month high of $958.63. The business has a 50 day moving average of $888.15 and a two-hundred day moving average of $825.47. 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 announced its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the firm posted $9.28 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts forecast that BlackRock will post 41.37 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Activity

In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 11,061 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock valued at $79,387,117 in the last 90 days. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On BlackRock

Institutional investors have recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock in the first quarter valued at approximately $27,000. Pineridge Advisors LLC purchased a new position in BlackRock in the 4th quarter valued at approximately $28,000. Fairscale Capital LLC acquired a new position in shares of BlackRock in the second quarter worth $31,000. Lam Group Inc. purchased a new stake in shares of BlackRock during the first quarter worth $33,000. Finally, Fairman Group LLC acquired a new stake in shares of BlackRock in the fourth quarter valued at $35,000. 80.69% of the stock is owned by institutional investors and hedge funds.

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.