BlackRock (NYSE:BLK) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• BlackRock has received a consensus recommendation of "Moderate Buy" from 15 research firms, with 12 rating it a buy and three a hold.
• The average 12-month target price for BlackRock's stock is approximately $1,151.21, following recent adjustments by several analysts.
• BlackRock announced a quarterly dividend of $5.21 per share, with a yield of 1.8% and a payout ratio of 50.39%.

BlackRock (NYSE:BLK - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the fifteen research firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $1,151.2143.

Several research firms recently commented on BLK. Zacks Research cut BlackRock from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Keefe, Bruyette & Woods reduced their price objective on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. Morgan Stanley decreased their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. Argus reaffirmed a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th.

BlackRock Stock Performance

NYSE BLK opened at $1,140.55 on Wednesday. The company's 50 day moving average is $1,092.57 and its 200-day moving average is $994.55. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,171.89. The firm has a market cap of $176.62 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 2.18 and a beta of 1.42.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the company earned $10.36 earnings per share. Sell-side analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio is 50.39%.

Insider Buying and Selling

In other news, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the transaction, the director owned 19,205 shares of the company's stock, valued at $21,617,148. The trade was a 48.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the sale, the director directly owned 3,506 shares of the company's stock, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock valued at $74,694,573 over the last ninety days. Insiders own 1.98% of the company's stock.

Institutional Trading of BlackRock

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Securian Asset Management Inc. purchased a new position in BlackRock during the 1st quarter valued at approximately $7,331,000. Prudent Man Advisors LLC bought a new stake in BlackRock during the 1st quarter valued at $2,018,000. Arizona State Retirement System purchased a new stake in BlackRock in the first quarter worth about $40,868,000. Allianz SE lifted its position in shares of BlackRock by 2.6% in the 1st quarter. Allianz SE now owns 11,025 shares of the asset manager's stock worth $10,435,000 after purchasing an additional 277 shares during the period. Finally, Polar Capital Holdings Plc bought a new stake in BlackRock during the 4th quarter valued at $15,307,000. Institutional investors own 80.69% of the company's stock.

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.

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