BlackRock, Inc. (NYSE:BLK) – Stock analysts at Jefferies Financial Group upped their Q1 2019 earnings per share estimates for BlackRock in a report issued on Monday, April 8th. Jefferies Financial Group analyst D. Fannon now expects that the asset manager will earn $6.17 per share for the quarter, up from their previous estimate of $5.98. Jefferies Financial Group has a “Buy” rating and a $405.36 price objective on the stock. Jefferies Financial Group also issued estimates for BlackRock’s Q2 2019 earnings at $6.89 EPS, Q3 2019 earnings at $7.08 EPS, Q4 2019 earnings at $7.14 EPS, FY2019 earnings at $27.28 EPS and FY2020 earnings at $30.06 EPS.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, January 16th. The asset manager reported $6.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $6.35 by ($0.27). BlackRock had a net margin of 30.32% and a return on equity of 13.51%. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the firm posted $6.24 earnings per share. BlackRock’s revenue for the quarter was down 8.8% compared to the same quarter last year.
A number of other equities analysts also recently weighed in on BLK. Citigroup reduced their price target on BlackRock from $500.00 to $450.00 and set a “buy” rating for the company in a research report on Wednesday, December 19th. Zacks Investment Research reissued a “sell” rating on shares of BlackRock in a report on Monday, December 31st. Morgan Stanley cut their price objective on BlackRock from $514.00 to $489.00 and set an “overweight” rating for the company in a report on Friday, January 4th. Wells Fargo & Co reissued a “hold” rating and issued a $410.00 price objective (down previously from $440.00) on shares of BlackRock in a report on Tuesday, January 8th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $472.00 price target on shares of BlackRock in a research note on Wednesday, January 9th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $497.95.
NYSE:BLK opened at $442.76 on Thursday. BlackRock has a twelve month low of $360.79 and a twelve month high of $557.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $69.50 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.70 and a beta of 1.40.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a $3.30 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $3.13. This represents a $13.20 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Tuesday, March 5th. BlackRock’s dividend payout ratio is currently 49.02%.
In other BlackRock news, insider J. Richard Kushel sold 3,077 shares of the company’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $409.29, for a total value of $1,259,385.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark Mccombe sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $417.04, for a total value of $1,251,120.00. Following the completion of the transaction, the insider now owns 30,543 shares in the company, valued at $12,737,652.72. The disclosure for this sale can be found here. Insiders sold a total of 138,650 shares of company stock worth $57,774,089 over the last 90 days. Corporate insiders own 1.75% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in BLK. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of BlackRock by 4.5% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 30,188 shares of the asset manager’s stock worth $12,901,000 after purchasing an additional 1,303 shares in the last quarter. Old North State Trust LLC boosted its holdings in shares of BlackRock by 132.5% in the 1st quarter. Old North State Trust LLC now owns 293 shares of the asset manager’s stock worth $125,000 after purchasing an additional 167 shares in the last quarter. Trust Co. of Oklahoma boosted its holdings in shares of BlackRock by 2.5% in the 1st quarter. Trust Co. of Oklahoma now owns 2,438 shares of the asset manager’s stock worth $1,042,000 after purchasing an additional 60 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of BlackRock in the 1st quarter worth about $4,300,000. Finally, North Star Investment Management Corp. boosted its holdings in shares of BlackRock by 2,365.5% in the 1st quarter. North Star Investment Management Corp. now owns 1,430 shares of the asset manager’s stock worth $611,000 after purchasing an additional 1,372 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.
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.
Further Reading: How is diluted EPS different from basic EPS?
Receive News & Ratings for BlackRock Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for BlackRock and related companies with MarketBeat.com’s FREE daily email newsletter.