BlackRock, Inc. (NYSE:BLK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

BlackRock, Inc. (NYSE:BLK) has been given a consensus rating of “Moderate Buy” by the twelve brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $1,120.67.

A number of research analysts have recently issued reports on BLK shares. StockNews.com began coverage on shares of BlackRock in a report on Wednesday. They set a “hold” rating for the company. Citigroup lifted their price target on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Wells Fargo & Company increased their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods cut their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Finally, UBS Group increased their price target on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st.

BlackRock Stock Down 1.6 %

Shares of NYSE:BLK opened at $951.24 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock has a 52-week low of $745.55 and a 52-week high of $1,084.22. The business’s 50 day simple moving average is $1,000.17 and its two-hundred day simple moving average is $983.89. The firm has a market cap of $147.33 billion, a P/E ratio of 22.65, a PEG ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. During the same quarter last year, the firm posted $9.66 EPS. BlackRock’s revenue was up 22.6% compared to the same quarter last year. As a group, research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 2.19%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. BlackRock’s dividend payout ratio is 49.62%.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the sale, the director now owns 68,433 shares in the company, valued at $69,117,330. The trade was a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,620 shares of company stock worth $115,571,370 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BLK. FSA Wealth Management LLC purchased a new stake in BlackRock in the 3rd quarter worth approximately $26,000. IAG Wealth Partners LLC bought a new stake in BlackRock during the fourth quarter valued at $26,000. Investment Management Corp VA ADV purchased a new position in BlackRock during the fourth quarter worth about $30,000. Collier Financial bought a new position in BlackRock in the 4th quarter worth about $32,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of BlackRock in the 4th quarter valued at about $33,000. Institutional investors own 80.69% of the company’s stock.

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.