BlackRock (BLK) Downgraded by ValuEngine to Sell

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ValuEngine cut shares of BlackRock (NYSE:BLK) from a hold rating to a sell rating in a report issued on Friday.

Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods upgraded shares of BlackRock from a market perform rating to an outperform rating and set a $590.00 price target on the stock in a research report on Friday, July 13th. JPMorgan Chase & Co. reiterated a focus list rating and set a $547.00 price target on shares of BlackRock in a research report on Monday, July 2nd. Goldman Sachs Group reduced their price target on shares of BlackRock to $570.00 and set a buy rating on the stock in a research report on Tuesday, July 17th. Deutsche Bank restated a buy rating and issued a $550.00 price objective (down previously from $559.00) on shares of BlackRock in a report on Thursday. Finally, Wells Fargo & Co cut their price objective on shares of BlackRock from $545.00 to $510.00 and set a market perform rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $590.62.

Shares of NYSE BLK traded up $10.02 during midday trading on Friday, hitting $427.70. 1,589,584 shares of the company traded hands, compared to its average volume of 620,241. BlackRock has a 12-month low of $415.35 and a 12-month high of $594.52. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.87 and a quick ratio of 3.87. The stock has a market capitalization of $75.22 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.46 and a beta of 1.55.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Monday, July 16th. The asset manager reported $6.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.55 by $0.11. BlackRock had a net margin of 38.97% and a return on equity of 13.20%. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter in the previous year, the company earned $5.24 earnings per share. BlackRock’s quarterly revenue was up 11.4% on a year-over-year basis. Research analysts anticipate that BlackRock will post 27.74 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 24th. Shareholders of record on Friday, September 7th were issued a $3.13 dividend. This represents a $12.52 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Thursday, September 6th. This is a boost from BlackRock’s previous quarterly dividend of $2.88. BlackRock’s dividend payout ratio is 55.40%.

In other BlackRock news, Director William E. Ford acquired 1,000 shares of the business’s stock in a transaction on Wednesday, July 18th. The shares were acquired at an average price of $507.98 per share, for a total transaction of $507,980.00. Following the completion of the acquisition, the director now owns 4,400 shares in the company, valued at $2,235,112. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Laurence Fink sold 19,800 shares of the company’s stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $507.67, for a total transaction of $10,051,866.00. Following the completion of the sale, the chairman now owns 1,098,328 shares in the company, valued at approximately $557,588,175.76. The disclosure for this sale can be found here. 1.75% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BLK. Clarus Wealth Advisors purchased a new stake in shares of BlackRock in the second quarter worth $133,000. Canton Hathaway LLC purchased a new stake in shares of BlackRock in the third quarter worth $146,000. AlphaMark Advisors LLC purchased a new stake in shares of BlackRock in the second quarter worth $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of BlackRock in the second quarter worth $150,000. Finally, Kaizen Advisory LLC increased its stake in shares of BlackRock by 156.7% in the second quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock worth $154,000 after purchasing an additional 188 shares in the last quarter. Institutional investors and hedge funds own 82.80% 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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for BlackRock (NYSE:BLK)

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