BlackRock (NYSE:BLK) Price Target Increased to $914.00 by Analysts at JPMorgan Chase & Co.

BlackRock (NYSE:BLK) had its price target raised by JPMorgan Chase & Co. from $864.00 to $914.00 in a report issued on Monday morning, Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

Other analysts have also issued research reports about the company. The Goldman Sachs Group upped their target price on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. UBS Group decreased their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Keefe, Bruyette & Woods boosted their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. StockNews.com initiated coverage on shares of BlackRock in a research note on Sunday. They issued a “hold” rating for the company. Finally, Morgan Stanley increased their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $995.31.

BlackRock Stock Performance

Shares of BLK stock opened at $1,000.53 on Monday. The company has a market capitalization of $148.68 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. BlackRock has a 52 week low of $596.18 and a 52 week high of $1,032.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company’s 50 day moving average price is $918.70 and its two-hundred day moving average price is $839.13.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the company earned $10.91 earnings per share. On average, analysts expect that BlackRock will post 41.73 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business 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. This represents a $20.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Buying and Selling

In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were 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 approximately $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,042 shares of company stock valued at $56,857,777. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On BlackRock

A number of institutional investors have recently modified their holdings of BLK. Axxcess Wealth Management LLC grew its stake in shares of BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after purchasing an additional 1,248 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in BlackRock by 3.9% during 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 purchased a new position in shares of BlackRock in the first quarter valued at $6,735,000. Cetera Investment Advisers raised its position in shares of BlackRock by 219.5% during the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after buying an additional 30,274 shares in the last quarter. Finally, M&G Plc purchased a new stake in BlackRock during the 1st quarter valued at $161,918,000. 80.69% of the stock is owned by hedge funds and other 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.