BlackRock (NYSE:BLK) Price Target Raised to $914.00

BlackRock (NYSE:BLK - Free Report) had its price target hoisted by JPMorgan Chase & Co. from $864.00 to $914.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the asset manager's stock.

Several other analysts have also issued reports on BLK. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $912.00 to $937.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. Morgan Stanley lifted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. The Goldman Sachs Group lifted their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Citigroup increased their price objective on BlackRock from $920.00 to $930.00 and gave the company a "buy" rating in a research note on Tuesday, July 16th. Finally, StockNews.com assumed coverage on shares of BlackRock in a report on Sunday. They set a "hold" rating for the company. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $995.31.

BlackRock Price Performance

Shares of NYSE:BLK traded down $6.49 during trading on Monday, reaching $1,000.53. 311,105 shares of the company's stock traded hands, compared to its average volume of 576,540. The firm has a market cap of $148.68 billion, a PE ratio of 25.56, a P/E/G ratio of 1.94 and a beta of 1.30. BlackRock has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a 50-day simple moving average of $915.45 and a 200-day simple moving average of $837.66.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts' consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.03 billion. During the same period in the previous year, the business earned $10.91 earnings per share. The business's revenue was up 14.9% compared to the same quarter last year. As a group, analysts predict that BlackRock will post 41.73 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was 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 company's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, 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 this link. In other news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now owns 353,718 shares of the company's stock, valued at $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the firm's stock in a transaction dated 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 sale, the director now owns 5,732 shares of the company's stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,042 shares of company stock worth $56,857,777. 0.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Waterway Wealth Management LLC grew its stake in shares of BlackRock by 8.0% during the 3rd quarter. Waterway Wealth Management LLC now owns 949 shares of the asset manager's stock worth $901,000 after purchasing an additional 70 shares during the period. Community Financial Services Group LLC grew its position in shares of BlackRock by 1.7% in the third quarter. Community Financial Services Group LLC now owns 4,768 shares of the asset manager's stock valued at $4,527,000 after purchasing an additional 79 shares during the last quarter. 1858 Wealth Management LLC acquired a new stake in BlackRock during the 3rd quarter valued at $230,000. Toth Financial Advisory Corp increased its position in BlackRock by 1.4% during the 3rd quarter. Toth Financial Advisory Corp now owns 9,703 shares of the asset manager's stock worth $9,213,000 after purchasing an additional 134 shares in the last quarter. Finally, Marino Stram & Associates LLC grew its holdings in shares of BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager's stock worth $3,227,000 after buying an additional 10 shares in the last quarter. Institutional investors and hedge funds 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.