BlackRock (NYSE:BLK) Now Covered by StockNews.com

StockNews.com started coverage on shares of BlackRock (NYSE:BLK - Free Report) in a research report report published on Friday. The firm issued a hold rating on the asset manager's stock.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $914.00 to $971.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Barclays reduced their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. Keefe, Bruyette & Woods dropped their price target on shares of BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating for the company in a research note on Monday, January 13th. Finally, UBS Group raised their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a "neutral" rating in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,120.67.

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BlackRock Price Performance

BlackRock stock traded up $12.55 during trading hours on Friday, hitting $964.28. 578,553 shares of the stock were exchanged, compared to its average volume of 628,197. The stock has a market capitalization of $149.71 billion, a P/E ratio of 22.96, a P/E/G ratio of 1.90 and a beta of 1.28. The business's 50-day moving average is $980.77 and its two-hundred day moving average is $989.13. 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 12 month low of $745.55 and a 12 month high of $1,084.22.

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

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a dividend of $5.21 per share. The ex-dividend date is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.16%. This is a positive change from BlackRock's previous quarterly dividend of $5.10. BlackRock's dividend payout ratio (DPR) is currently 49.62%.

Insider Activity at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the transaction, the director now owns 68,433 shares in the company, valued at $73,403,973.12. This represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 20,430 shares of company stock worth $21,234,629. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackRock

A number of large investors have recently added to or reduced their stakes in BLK. Norges Bank bought a new position in shares of BlackRock during the fourth quarter worth about $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of BlackRock by 401.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock worth $1,122,743,000 after acquiring an additional 876,836 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of BlackRock by 138,682.5% in the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock valued at $634,000 after purchasing an additional 633,779 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of BlackRock in the fourth quarter worth $572,730,000. Finally, Amundi acquired a new position in BlackRock during the fourth quarter worth $528,792,000. 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.