StockNews.com assumed coverage on shares of BlackRock (NYSE:BLK – Get Rating) in a report published on Thursday. The firm issued a hold rating on the asset manager’s stock.
BLK has been the subject of several other reports. The Goldman Sachs Group boosted their target price on BlackRock from $741.00 to $825.00 and gave the stock a buy rating in a report on Wednesday, January 4th. Credit Suisse Group lifted their price target on BlackRock from $540.00 to $680.00 and gave the stock a neutral rating in a research report on Thursday, January 12th. Wells Fargo & Company assumed coverage on BlackRock in a research report on Wednesday, December 14th. They issued an overweight rating and a $820.00 price target on the stock. Morgan Stanley lifted their price target on BlackRock from $785.00 to $828.00 and gave the stock an overweight rating in a research report on Tuesday, January 17th. Finally, Bank of America dropped their price target on BlackRock from $821.00 to $813.00 in a research report on Sunday, January 15th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $740.92.
BlackRock Stock Down 0.0 %
Shares of BlackRock stock opened at $636.71 on Thursday. The stock has a 50-day simple moving average of $714.75 and a 200-day simple moving average of $680.87. BlackRock has a 52-week low of $503.12 and a 52-week high of $788.65. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.99 and a quick ratio of 2.99. The firm has a market cap of $95.66 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 2.11 and a beta of 1.28.
BlackRock Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Tuesday, March 7th will be given a dividend of $5.00 per share. The ex-dividend date is Monday, March 6th. This is a boost from BlackRock’s previous quarterly dividend of $4.88. This represents a $20.00 dividend on an annualized basis and a dividend yield of 3.14%. BlackRock’s payout ratio is currently 58.91%.
In other news, Director Stephen Cohen sold 1,149 shares of the business’s stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $753.46, for a total transaction of $865,725.54. Following the sale, the director now directly owns 4,135 shares in the company, valued at $3,115,557.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other BlackRock news, Director Mark Wiedman sold 1,075 shares of the company’s stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $749.89, for a total value of $806,131.75. Following the sale, the director now directly owns 8,682 shares in the company, valued at $6,510,544.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen Cohen sold 1,149 shares of the company’s stock in a transaction on Monday, January 30th. The shares were sold at an average price of $753.46, for a total value of $865,725.54. Following the completion of the sale, the director now owns 4,135 shares in the company, valued at $3,115,557.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,839 shares of company stock worth $3,578,947. Company insiders own 1.06% of the company’s stock.
Hedge Funds Weigh In On BlackRock
Institutional investors and hedge funds have recently bought and sold shares of the business. Sendero Wealth Management LLC acquired a new position in BlackRock in the second quarter worth $373,000. Horan Securities Inc. increased its holdings in BlackRock by 72.7% in the fourth quarter. Horan Securities Inc. now owns 38 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 16 shares during the last quarter. Y.D. More Investments Ltd bought a new stake in BlackRock in the fourth quarter valued at about $28,000. Wagner Wealth Management LLC bought a new stake in BlackRock in the second quarter valued at about $25,000. Finally, HBC Financial Services PLLC increased its holdings in BlackRock by 55.6% in the fourth quarter. HBC Financial Services PLLC now owns 42 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 15 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.
BlackRock Company Profile
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Susan L.
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