Zacks Research Analysts Boost Earnings Estimates for BlackRock, Inc. (NYSE:BLK)

BlackRock, Inc. (NYSE:BLK) – Equities researchers at Zacks Research lifted their Q3 2024 earnings per share (EPS) estimates for shares of BlackRock in a report issued on Friday, August 2nd. Zacks Research analyst R. Department now expects that the asset manager will earn $9.91 per share for the quarter, up from their prior forecast of $9.88. The consensus estimate for BlackRock’s current full-year earnings is $41.23 per share. Zacks Research also issued estimates for BlackRock’s Q4 2024 earnings at $10.58 EPS, FY2024 earnings at $40.66 EPS, Q2 2025 earnings at $10.92 EPS, Q4 2025 earnings at $11.99 EPS and Q1 2026 earnings at $12.64 EPS.

Other research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reduced their target price on BlackRock from $924.00 to $912.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Morgan Stanley reduced their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Evercore ISI lifted their price target on shares of BlackRock from $910.00 to $920.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. TD Cowen dropped their price objective 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. Finally, UBS Group decreased their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $872.29.

BlackRock Stock Performance

Shares of BLK stock opened at $839.85 on Monday. 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 stock has a market capitalization of $124.80 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.92 and a beta of 1.32. BlackRock has a one year low of $596.18 and a one year high of $885.10. The company’s 50-day simple moving average is $803.78 and its 200-day simple moving average is $798.40.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.28 EPS.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.43%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Insider Activity

In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on 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 transaction, the director now owns 5,732 shares in the company, valued at $4,826,802.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction 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 directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Insiders sold 68,509 shares of company stock worth $55,981,794 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

Several hedge funds and other institutional investors have recently modified their holdings of BLK. Boston Trust Walden Corp raised its position in BlackRock by 3.1% during the fourth quarter. Boston Trust Walden Corp now owns 1,223 shares of the asset manager’s stock valued at $993,000 after acquiring an additional 37 shares in the last quarter. Allworth Financial LP increased its position in BlackRock by 12.1% during the fourth quarter. Allworth Financial LP now owns 2,515 shares of the asset manager’s stock worth $2,042,000 after buying an additional 271 shares during the last quarter. Prime Capital Investment Advisors LLC raised its holdings in BlackRock by 165.4% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 5,958 shares of the asset manager’s stock valued at $4,837,000 after buying an additional 3,713 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of BlackRock by 4.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 4,078 shares of the asset manager’s stock worth $3,311,000 after acquiring an additional 163 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of BlackRock by 2.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,767 shares of the asset manager’s stock valued at $34,718,000 after acquiring an additional 944 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

About BlackRock

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.