BlackRock (NYSE:BLK) PT Raised to $864.00 at JPMorgan Chase & Co.

BlackRock (NYSE:BLK) had its price objective upped by JPMorgan Chase & Co. from $774.00 to $864.00 in a research note released on Tuesday, Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

A number of other equities analysts have also recently commented on BLK. UBS Group dropped their price objective on shares of BlackRock from $842.00 to $837.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. Argus raised their price objective on BlackRock from $880.00 to $910.00 and gave the company a buy rating in a research note on Tuesday, July 16th. Wells Fargo & Company initiated coverage on BlackRock in a research report on Thursday, September 12th. They set an overweight rating and a $1,000.00 target price on the stock. Citigroup raised their price target on BlackRock from $920.00 to $930.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of BlackRock from $912.00 to $937.00 and gave the stock a buy rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $908.60.

BlackRock Trading Down 1.6 %

Shares of BLK stock opened at $934.10 on Tuesday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $138.81 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. BlackRock has a 12-month low of $596.18 and a 12-month high of $952.75. The stock’s 50-day moving average price is $883.26 and its 200-day moving average price is $823.65.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.96 by $0.40. The business had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $9.28 EPS. Equities research analysts predict that BlackRock will post 41.37 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.18%. BlackRock’s payout ratio is currently 51.84%.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now owns 6,480 shares in the company, valued at $5,407,041.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,407,041.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Pamela Daley sold 1,531 shares of BlackRock 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 $4,826,802.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of BlackRock

Institutional investors have recently modified their holdings of the company. Axxcess Wealth Management LLC grew its holdings in BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after purchasing an additional 1,248 shares during the last quarter. Morningstar Investment Services LLC increased its position in BlackRock by 97.1% during the 4th quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock valued at $93,151,000 after buying an additional 56,357 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in BlackRock by 3.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock valued at $322,810,000 after buying an additional 14,477 shares during the last quarter. Oak Harvest Investment Services acquired a new stake in BlackRock in the first quarter worth about $6,735,000. Finally, Cetera Investment Advisers grew its stake in shares of BlackRock by 219.5% during the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after acquiring an additional 30,274 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

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.