BlackRock (NYSE:BLK) Price Target Raised to $937.00

BlackRock (NYSE:BLK) had its price objective increased by Deutsche Bank Aktiengesellschaft from $912.00 to $937.00 in a research note published on Thursday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the asset manager’s stock.

BLK has been the subject of several other research reports. TD Cowen decreased their price target on shares of BlackRock from $974.00 to $969.00 and set a buy rating for the company in a research note on Monday, July 8th. Evercore ISI lifted their price objective on shares of BlackRock from $910.00 to $920.00 and gave the company an outperform rating in a report on Tuesday, July 16th. UBS Group cut 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. Argus lifted their price objective on shares of BlackRock from $880.00 to $910.00 and gave the company a buy rating in a report on Tuesday, July 16th. Finally, Citigroup lifted their price objective on shares of BlackRock from $920.00 to $930.00 and gave the company a buy rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $874.07.

BlackRock Stock Performance

BlackRock stock opened at $872.49 on Thursday. The company has a 50 day moving average price of $818.31 and a 200-day moving average price of $802.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. BlackRock has a fifty-two week low of $596.18 and a fifty-two week high of $885.10. The company has a market capitalization of $129.65 billion, a PE ratio of 22.17, a P/E/G ratio of 1.92 and a beta of 1.32.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The firm had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the firm posted $9.28 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. As a group, equities analysts forecast that BlackRock will post 41.23 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is 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 the business’s 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 $4,826,802.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Pamela Daley sold 1,531 shares of the business’s 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 completion of the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The disclosure for this sale can be found here. Insiders have sold 81,042 shares of company stock valued at $68,587,117 over the last ninety days. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLK. Tennessee Valley Asset Management Partners acquired a new position in shares of BlackRock in the fourth quarter worth about $27,000. Desjardins Global Asset Management Inc. raised its position in shares of BlackRock by 1.3% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,265 shares of the asset manager’s stock worth $1,027,000 after acquiring an additional 16 shares during the period. Rakuten Securities Inc. acquired a new position in shares of BlackRock in the fourth quarter worth about $44,000. Daiwa Securities Group Inc. raised its position in shares of BlackRock by 1.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,459 shares of the asset manager’s stock worth $11,738,000 after acquiring an additional 168 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of BlackRock by 70.3% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 332 shares of the asset manager’s stock worth $270,000 after acquiring an additional 137 shares during the period. 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.