BlackRock, Inc. (NYSE:BLK) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of BlackRock, Inc. (NYSE:BLK - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirteen research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $1,077.08.

Several research firms recently issued reports on BLK. StockNews.com assumed coverage on BlackRock in a research note on Friday. They issued a "hold" rating on the stock. UBS Group reduced their target price on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. decreased their target price on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Barclays lifted their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Finally, Wells Fargo & Company decreased their price objective on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating for the company in a report on Monday, April 14th.

BlackRock Trading Up 0.6%

Shares of BLK stock opened at $989.39 on Monday. The business has a 50-day moving average of $916.06 and a 200 day moving average of $978.04. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock has a 1-year low of $752.30 and a 1-year high of $1,084.22. The stock has a market capitalization of $153.61 billion, a PE ratio of 23.56, a P/E/G ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same quarter in the prior year, the firm posted $9.81 earnings per share. The business's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be paid a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.11%. BlackRock's payout ratio is 50.63%.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now owns 66,034 shares in the company, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 12,430 shares of company stock valued at $11,237,249 over the last quarter. Corporate insiders own 1.98% of the company's stock.

Hedge Funds Weigh In On BlackRock

Several institutional investors and hedge funds have recently modified their holdings of the stock. Amalgamated Bank grew its holdings in shares of BlackRock by 1.7% during the fourth quarter. Amalgamated Bank now owns 28,711 shares of the asset manager's stock valued at $29,432,000 after buying an additional 489 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in BlackRock by 4.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager's stock valued at $12,793,000 after acquiring an additional 578 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in BlackRock by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock valued at $67,038,000 after purchasing an additional 4,210 shares during the last quarter. Artemis Investment Management LLP raised its stake in shares of BlackRock by 48.2% in the fourth quarter. Artemis Investment Management LLP now owns 39,539 shares of the asset manager's stock worth $40,532,000 after purchasing an additional 12,864 shares during the last quarter. Finally, E. Ohman J or Asset Management AB bought a new position in shares of BlackRock during the fourth quarter valued at $46,284,000. 80.69% of the stock is currently owned by institutional investors.

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.

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