BlackRock (BLK) Given a $515.00 Price Target by Morgan Stanley Analysts

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Morgan Stanley set a $515.00 target price on BlackRock (NYSE:BLK) in a report released on Friday morning. The firm currently has a buy rating on the asset manager’s stock.

Other equities research analysts have also issued reports about the company. Deutsche Bank restated a buy rating and set a $550.00 price objective (down from $559.00) on shares of BlackRock in a research report on Thursday, October 11th. Argus decreased their price objective on BlackRock from $620.00 to $535.00 and set a buy rating for the company in a research report on Wednesday, October 17th. Citigroup decreased their price objective on BlackRock to $500.00 and set a buy rating for the company in a research report on Wednesday, October 17th. Goldman Sachs Group lowered BlackRock from a conviction-buy rating to a buy rating in a research report on Wednesday, October 17th. Finally, Bank of America restated a buy rating and set a $478.00 price objective (down from $525.00) on shares of BlackRock in a research report on Thursday, December 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $503.03.

Shares of NYSE BLK opened at $411.76 on Friday. BlackRock has a one year low of $360.79 and a one year high of $578.80. The stock has a market cap of $64.94 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.07 and a quick ratio of 3.07.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 16th. The asset manager reported $6.08 EPS for the quarter, missing the Zacks’ consensus estimate of $6.35 by ($0.27). BlackRock had a return on equity of 13.53% and a net margin of 30.32%. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the business posted $6.24 earnings per share. The company’s revenue was down 8.8% compared to the same quarter last year. Equities analysts expect that BlackRock will post 25.88 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 3.21%. This is a positive change from BlackRock’s previous quarterly dividend of $3.13. The ex-dividend date of this dividend is Tuesday, March 5th. BlackRock’s payout ratio is currently 46.49%.

In related news, Director J. Richard Kushel sold 2,100 shares of the business’s stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $419.11, for a total value of $880,131.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gary Shedlin sold 5,400 shares of the business’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $410.74, for a total value of $2,217,996.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,929 shares of company stock valued at $36,214,650. 1.75% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of BLK. We Are One Seven LLC acquired a new stake in BlackRock in the 3rd quarter worth approximately $268,000. State of Alaska Department of Revenue lifted its holdings in BlackRock by 2.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 17,743 shares of the asset manager’s stock worth $8,360,000 after purchasing an additional 355 shares during the last quarter. Lourd Capital LLC acquired a new stake in BlackRock in the 3rd quarter worth approximately $211,000. DNB Asset Management AS lifted its holdings in BlackRock by 5.6% in the 3rd quarter. DNB Asset Management AS now owns 19,899 shares of the asset manager’s stock worth $9,379,000 after purchasing an additional 1,058 shares during the last quarter. Finally, Montecito Bank & Trust lifted its holdings in BlackRock by 26.8% in the 3rd quarter. Montecito Bank & Trust now owns 729 shares of the asset manager’s stock worth $344,000 after purchasing an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 82.17% of the company’s stock.

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.

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Analyst Recommendations for BlackRock (NYSE:BLK)

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