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

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

Several other analysts have also issued reports on the stock. Barclays upped their target price on shares of BlackRock from $985.00 to $990.00 and gave the stock an overweight rating in a research note on Monday, September 9th. Keefe, Bruyette & Woods lifted their target price on shares of BlackRock from $915.00 to $934.00 and gave the stock an outperform rating in a research note on Tuesday, July 16th. Wells Fargo & Company began coverage on BlackRock in a research note on Thursday, September 12th. They set an overweight rating and a $1,000.00 price objective on the stock. Evercore ISI raised their price target on shares of BlackRock from $920.00 to $945.00 and gave the company an outperform rating in a report on Thursday, September 5th. Finally, Morgan Stanley lowered their target price on shares of BlackRock from $1,025.00 to $1,013.00 and set an overweight rating on the stock in a research note on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, BlackRock has a consensus rating of Moderate Buy and a consensus target price of $932.71.

BlackRock Price Performance

Shares of BLK opened at $949.19 on Tuesday. The business has a 50-day simple moving average of $890.01 and a two-hundred day simple moving average of $826.50. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock has a 12-month low of $596.18 and a 12-month high of $960.74. The stock has a market cap of $141.05 billion, a PE ratio of 24.12, a PEG ratio of 2.05 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The business had revenue of $4.81 billion during 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 15.44%. BlackRock’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $9.28 earnings per share. Analysts anticipate that BlackRock will post 41.37 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a $5.10 dividend. The ex-dividend date was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.15%. BlackRock’s dividend payout ratio is presently 51.84%.

Insider Activity

In related news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now owns 6,480 shares in the company, valued at $5,407,041.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,042 shares of company stock valued at $79,387,117 over the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of BlackRock

Institutional investors and hedge funds have recently bought and sold shares of the stock. Redmont Wealth Advisors LLC bought a new position in shares of BlackRock in the 1st quarter valued at about $27,000. Pineridge Advisors LLC bought a new position in shares of BlackRock during the fourth quarter valued at approximately $28,000. Fairscale Capital LLC purchased a new position in shares of BlackRock in the 2nd quarter valued at $31,000. Lam Group Inc. purchased a new stake in shares of BlackRock during the first quarter valued at about $33,000. Finally, Fairman Group LLC purchased a new stake in BlackRock during the fourth quarter valued at approximately $35,000. 80.69% of the stock is currently owned by institutional investors.

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.