BlackRock (NYSE:BLK) Given New $864.00 Price Target at JPMorgan Chase & Co.

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

A number of other brokerages also recently weighed in on BLK. Keefe, Bruyette & Woods upped their price target on shares of BlackRock from $915.00 to $934.00 and gave the stock an outperform rating in a report on Tuesday, July 16th. StockNews.com initiated coverage on shares of BlackRock in a research report on Thursday, September 26th. They issued a hold rating for the company. Citigroup increased their price objective on BlackRock from $920.00 to $930.00 and gave the company a buy rating in a report on Tuesday, July 16th. Wells Fargo & Company started coverage on shares of BlackRock in a report on Thursday, September 12th. They set an overweight rating and a $1,000.00 price target for the company. Finally, Morgan Stanley reduced their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an overweight rating for the company in a research report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $908.60.

BlackRock Stock Down 1.6 %

BLK stock opened at $934.10 on Tuesday. BlackRock has a 1-year low of $596.18 and a 1-year high of $952.75. The business’s 50 day simple moving average is $883.26 and its 200 day simple moving average is $823.65. 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 firm has a market capitalization of $138.81 billion, a PE ratio of 23.74, a PEG ratio of 2.05 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $9.28 earnings per share. As a group, research analysts anticipate that BlackRock will post 41.37 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were given a $5.10 dividend. The ex-dividend date was Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.18%. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Transactions at BlackRock

In other BlackRock 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 value 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $5,832,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The disclosure for this sale can be found here. Insiders have sold 93,042 shares of company stock worth $79,387,117 in the last ninety days. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

A number of hedge funds and other institutional investors have recently modified their holdings of BLK. Redmont Wealth Advisors LLC bought a new stake in shares of BlackRock in the first quarter worth about $27,000. Pineridge Advisors LLC purchased a new position in shares of BlackRock in the 4th quarter worth $28,000. Fairscale Capital LLC bought a new position in BlackRock in the second quarter worth approximately $31,000. Lam Group Inc. bought a new position in BlackRock in the 1st quarter worth $33,000. Finally, Fairman Group LLC bought a new position in shares of BlackRock in the fourth quarter worth approximately $35,000. Institutional investors 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.