Brokerages Set BlackRock, Inc. (BLK) Price Target at $543.00

BlackRock, Inc. (NYSE:BLK) has received an average recommendation of “Buy” from the fourteen research firms that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $543.00.

Several research analysts have weighed in on the stock. Argus decreased their price objective on shares of BlackRock from $620.00 to $535.00 and set a “buy” rating for the company in a report on Wednesday, October 17th. ValuEngine lowered shares of BlackRock from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Wells Fargo & Co decreased their price objective on shares of BlackRock from $545.00 to $510.00 and set a “market perform” rating for the company in a report on Thursday, October 11th. Deutsche Bank reissued a “buy” rating and set a $550.00 price objective (down from $559.00) on shares of BlackRock in a report on Thursday, October 11th. Finally, JPMorgan Chase & Co. raised shares of BlackRock to an “overweight” rating in a report on Tuesday, October 9th.

BLK stock traded down $1.01 during mid-day trading on Friday, hitting $406.61. 299,359 shares of the company were exchanged, compared to its average volume of 807,773. The firm has a market cap of $64.29 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.22 and a beta of 1.54. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.07 and a quick ratio of 3.07. BlackRock has a twelve month low of $376.31 and a twelve month high of $594.52.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, October 16th. The asset manager reported $7.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.93 by $0.59. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.65 billion. BlackRock had a net margin of 39.92% and a return on equity of 13.72%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $5.76 EPS. On average, sell-side analysts expect that BlackRock will post 27.82 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 7th will be given a $3.13 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $12.52 dividend on an annualized basis and a dividend yield of 3.08%. BlackRock’s payout ratio is currently 55.40%.

In other BlackRock news, Director William E. Ford purchased 2,000 shares of BlackRock stock in a transaction dated Monday, October 22nd. The shares were bought at an average cost of $395.21 per share, for a total transaction of $790,420.00. Following the transaction, the director now owns 9,466 shares in the company, valued at approximately $3,741,057.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.86% of the company’s stock.

Several institutional investors have recently bought and sold shares of BLK. Truvestments Capital LLC bought a new stake in BlackRock in the 3rd quarter valued at about $116,000. AlphaMark Advisors LLC bought a new stake in BlackRock in the 2nd quarter valued at about $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in BlackRock in the 2nd quarter valued at about $150,000. Kaizen Advisory LLC lifted its position in BlackRock by 156.7% in the 2nd quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock valued at $154,000 after purchasing an additional 188 shares during the last quarter. Finally, Canton Hathaway LLC bought a new stake in BlackRock in the 3rd quarter valued at about $146,000. Institutional investors own 80.42% of the company’s stock.

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.

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Analyst Recommendations for BlackRock (NYSE:BLK)

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