BlackRock, Inc. (BLK) - Credit Suisse Maintains Rating And Raises Price Target

Paterniano Del Favero
Agosto 12, 2017

Vanguard Group Inc. now owns 7,794,209 shares of the asset manager's stock worth $2,989,157,000 after buying an additional 250,431 shares during the period. BlackRock offers its Aladdin investment system, as well as risk management, outsourcing, advisory and technology services, to institutional investors and wealth management intermediaries under the BlackRock Solutions (BRS) name.

Other institutional investors have also recently made changes to their positions in the company. As of quarter end Vision Capital Management, Inc. had disposed of a total of 75 shares trimming its holdings by 2.1%.

Gareth Morgan Investments Limited Partnership decreased its ownership in BlackRock, Inc. stock by 0.4% in the quarter ending 06/30/2017. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in BlackRock by 0.5% in the first quarter.

State Treasurer State of MI cut its position in shares of BlackRock, Inc. Insiders sold a total of 3,772 shares of company stock worth $1,567,516 over the last quarter. First Midwest Bank Trust Division's holdings in BlackRock were worth $1,156,000 at the end of the most recent reporting period. JNBA Financial Advisors raised its position in shares of BlackRock by 0.4% in the first quarter. Alpha Windward LLC now owns 487 shares of the asset manager's stock worth $187,000 after buying an additional 3 shares during the last quarter. Corporate insiders own 1.86% of the company's stock. Sumitomo Mitsui Asset Management Company Ltd has 0.07% invested in BlackRock, Inc. (BLK) traded up 0.35% during mid-day trading on Friday, hitting $424.16. The company had a trading volume of 305,236 shares.

BlackRock, Inc. now has a P/E ratio of 20.45 and the market cap of the company is 69.10B. BlackRock has a 12 month low of $336.84 and a 12 month high of $442.84. The stock's 50-day moving average is $428.00 and its 200-day moving average is $399.35.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $5.39 by $0.15. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter previous year, the firm earned $4.78 earnings per share. The company's quarterly revenue was up 5.7% compared to the same quarter a year ago. On average, equities research analysts expect that BlackRock, Inc. will post $21.85 EPS for the current year. The Firm also offers maker specific advanced training (MSAT) programs, including student-paid electives, at its campuses and maker or dealer sponsored training at certain campuses and dedicated training centers. This dividend amount will represent a yeild of $2.32. The ex-dividend date is Thurs, Aug 31st. The dividend payment will be $2.500 per share for the quarter which comes to $10.00 on an annualized basis. BlackRock's dividend payout ratio is 47.98%.

WARNING: This piece was originally posted by Rincon Hill News and is owned by of Rincon Hill News. If you are viewing this news story on another domain, it was stolen and republished in violation of USA and worldwide copyright laws. The correct version of this piece of content can be read at https://theolympiareport.com/2017/08/11/blackrock-inc-blk-shares-sold-by-charter-trust-co.html. (NYSE:BLK). Mastrapasqua Asset reported 1.48% stake. Deutsche Bank AG reissued a "buy" rating and issued a $441.00 price objective (down from $449.00) on shares of BlackRock in a research report on Saturday, April 22nd. Wells Fargo & Company reissued a "market perform" rating and issued a $425.00 price target (up from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. BidaskClub cut shares of BlackRock from a "strong-buy" rating to a "buy" rating in a report on Monday, July 31st. Tiaa Cref Investment Management LLC now holds 431,279 shares with a value of $182,177,000. Zacks Investment Research downgraded shares of BlackRock from a "buy" rating to a "hold" rating in a research report on Wednesday, July 19th.

October 11 investment analysts at Jefferies held the company rating at "Buy" and moved up the price target from $357.00 to $418.00. The stock presently has a consensus rating of "Buy" and a consensus target price of $434.93.

In other BlackRock news, insider Mark Mccombe sold 500 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $434.87, for a total value of $108,717.50. Following the transaction, the director now directly owns 484,386 shares of the company's stock, valued at approximately $200,685,963.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. The Bremer Trust National Association holds 6,448 shares with $2.45 million value, down from 8,187 last quarter. The disclosure for this sale can be found here.

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