UBS Group Cuts BlackRock (NYSE:BLK) Price Target to $837.00

BlackRock (NYSE:BLK) had its target price cut by UBS Group from $842.00 to $837.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

BLK has been the topic of a number of other research reports. Morgan Stanley upped their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an overweight rating in a research note on Monday, April 15th. TD Cowen lowered their target price on shares of BlackRock from $974.00 to $969.00 and set a buy rating on the stock in a research note on Monday, July 8th. Keefe, Bruyette & Woods reissued an outperform rating and issued a $915.00 target price on shares of BlackRock in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of BlackRock from $742.00 to $767.00 and gave the company a neutral rating in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $844.67.

BlackRock Stock Performance

NYSE:BLK opened at $828.04 on Wednesday. The firm’s 50-day moving average is $787.33 and its 200-day moving average is $793.09. BlackRock has a 52-week low of $596.18 and a 52-week high of $845.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The company has a market cap of $123.05 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.68 and a beta of 1.32.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the firm posted $7.93 EPS. The business’s revenue was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that BlackRock will post 41.27 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were paid a dividend of $5.10 per share. The ex-dividend date was Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.46%. BlackRock’s dividend payout ratio is 51.84%.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,151,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,151,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now owns 383,168 shares in the company, valued at $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackRock

Large investors have recently bought and sold shares of the business. Tennessee Valley Asset Management Partners acquired a new position in BlackRock in the fourth quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in BlackRock in the first quarter worth $27,000. Private Wealth Management Group LLC bought a new position in shares of BlackRock during the fourth quarter worth $28,000. Pineridge Advisors LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $28,000. Finally, LFA Lugano Financial Advisors SA increased its position in shares of BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares in the last quarter. 80.69% of the stock is currently 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.