BlackRock (NYSE:BLK)‘s stock had its “hold” rating reissued by analysts at Jefferies Financial Group in a report issued on Wednesday. They currently have a $427.00 target price on the asset manager’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 8.92% from the company’s current price. Jefferies Financial Group also issued estimates for BlackRock’s Q4 2018 earnings at $6.41 EPS, FY2018 earnings at $27.30 EPS, Q1 2019 earnings at $6.18 EPS, Q2 2019 earnings at $6.64 EPS, Q3 2019 earnings at $6.80 EPS, Q4 2019 earnings at $7.07 EPS, FY2019 earnings at $26.68 EPS and FY2020 earnings at $29.99 EPS.
Several other analysts have also weighed in on BLK. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $541.00 to $592.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Zacks Investment Research downgraded BlackRock from a “hold” rating to a “sell” rating in a research note on Tuesday. Citigroup cut their target price on BlackRock to $500.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. ValuEngine raised BlackRock from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Finally, Morgan Stanley lowered their price target on BlackRock from $607.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $523.07.
NYSE:BLK opened at $392.05 on Wednesday. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.76. BlackRock has a twelve month low of $360.79 and a twelve month high of $594.52. The stock has a market cap of $63.11 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43.
BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.93 by $0.59. BlackRock had a net margin of 39.92% and a return on equity of 13.72%. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the firm posted $5.76 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts forecast that BlackRock will post 27.63 EPS for the current year.
In related news, Director J. Richard Kushel sold 2,100 shares of BlackRock stock in a transaction on Monday, November 26th. The stock was sold at an average price of $419.11, for a total transaction of $880,131.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William E. Ford acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The shares were acquired at an average cost of $395.21 per share, with a total value of $790,420.00. Following the purchase, the director now directly owns 9,466 shares of the company’s stock, valued at approximately $3,741,057.86. The disclosure for this purchase can be found here. 1.75% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Rehmann Capital Advisory Group lifted its position in BlackRock by 51,763.3% during the third quarter. Rehmann Capital Advisory Group now owns 1,084,461 shares of the asset manager’s stock valued at $2,300,000 after purchasing an additional 1,082,370 shares during the period. Capital International Investors bought a new stake in BlackRock during the third quarter valued at $477,939,000. Flossbach Von Storch AG bought a new stake in BlackRock during the third quarter valued at $128,258,000. Capital World Investors increased its stake in BlackRock by 1.8% during the third quarter. Capital World Investors now owns 8,353,670 shares of the asset manager’s stock valued at $3,937,335,000 after purchasing an additional 148,805 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC bought a new stake in BlackRock during the second quarter valued at $202,000. 82.43% of the stock is owned by 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.
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