BlackRock (NYSE:BLK) Given New $1,040.00 Price Target at Evercore ISI

BlackRock (NYSE:BLK) had its target price boosted by Evercore ISI from $995.00 to $1,040.00 in a report published on Monday, Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

Several other brokerages also recently issued reports on BLK. Barclays increased their price target on BlackRock from $990.00 to $1,010.00 and gave the company an overweight rating in a report on Monday, October 7th. StockNews.com started coverage on BlackRock in a report on Saturday. They set a hold rating on the stock. Deutsche Bank Aktiengesellschaft upped their price target on BlackRock from $912.00 to $937.00 and gave the stock a buy rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $774.00 to $864.00 and gave the company a neutral rating in a research note on Tuesday, October 1st. Finally, The Goldman Sachs Group upped their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a buy rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, BlackRock currently has a consensus rating of Moderate Buy and an average price target of $991.46.

BlackRock Stock Performance

NYSE BLK opened at $991.72 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock has a 1-year low of $596.18 and a 1-year high of $1,001.45. The firm has a market capitalization of $147.37 billion, a P/E ratio of 25.20, a P/E/G ratio of 1.94 and a beta of 1.30. The business’s 50-day simple moving average is $902.62 and its 200-day simple moving average is $832.46.

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

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,042 shares of company stock valued at $56,857,777. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

Several large investors have recently added to or reduced their stakes in BLK. Capital Research Global Investors grew its holdings in shares of BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after buying an additional 435,358 shares in the last quarter. Mayflower Financial Advisors LLC grew its stake in BlackRock by 24,171.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock valued at $346,831,000 after acquiring an additional 414,300 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares during the period. M&G Plc purchased a new stake in shares of BlackRock in the first quarter worth approximately $161,918,000. Finally, Sarasin & Partners LLP boosted its holdings in shares of BlackRock by 174.8% during the second quarter. Sarasin & Partners LLP now owns 184,291 shares of the asset manager’s stock worth $145,096,000 after purchasing an additional 117,218 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

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.