StockNews.com Begins Coverage on BlackRock (NYSE:BLK)

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 (NYSE:BLK – Get Rating) last posted its earnings results on Friday, January 13th. The asset manager reported $8.93 earnings per share for the quarter, topping the consensus estimate of $7.99 by $0.94. BlackRock had a return on equity of 14.38% and a net margin of 28.97%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.16 billion. On average, equities research analysts expect that BlackRock will post 34.84 earnings per share for the current fiscal year.

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%.

Insider Activity

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

(Get Rating)

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.