BlackRock (BLK) Cut to Sell at ValuEngine

ValuEngine cut shares of BlackRock (NYSE:BLK) from a hold rating to a sell rating in a research report released on Friday.

Several other equities analysts have also commented on BLK. Barclays lowered their price objective on shares of BlackRock from $615.00 to $595.00 and set an overweight rating for the company in a research report on Tuesday, July 17th. Deutsche Bank reiterated a buy rating and set a $550.00 price objective (down previously from $559.00) on shares of BlackRock in a research report on Thursday. Wells Fargo & Co lowered their price objective on shares of BlackRock from $545.00 to $510.00 and set a market perform rating for the company in a research report on Thursday. Citigroup upgraded shares of BlackRock from a neutral rating to a buy rating in a research report on Monday, June 18th. Finally, UBS Group lowered their target price on shares of BlackRock from $575.00 to $565.00 and set a buy rating for the company in a report on Monday, October 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. BlackRock presently has a consensus rating of Buy and a consensus price target of $590.62.

BLK stock traded up $10.02 during trading on Friday, hitting $427.70. 1,589,584 shares of the company’s stock traded hands, compared to its average volume of 620,241. BlackRock has a 52 week low of $415.35 and a 52 week high of $594.52. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $75.22 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.46 and a beta of 1.55.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 16th. The asset manager reported $6.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.55 by $0.11. BlackRock had a net margin of 38.97% and a return on equity of 13.20%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same quarter last year, the business earned $5.24 earnings per share. BlackRock’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, analysts anticipate that BlackRock will post 27.74 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 24th. Stockholders of record on Friday, September 7th were issued a $3.13 dividend. This represents a $12.52 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Thursday, September 6th. This is a positive change from BlackRock’s previous quarterly dividend of $2.88. BlackRock’s dividend payout ratio (DPR) is 55.40%.

In other news, Director William E. Ford bought 1,000 shares of the stock in a transaction dated Thursday, August 2nd. The stock was purchased at an average price of $467.92 per share, for a total transaction of $467,920.00. Following the acquisition, the director now owns 5,400 shares of the company’s stock, valued at $2,526,768. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Laurence Fink sold 19,800 shares of the firm’s stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $507.67, for a total transaction of $10,051,866.00. Following the completion of the sale, the chairman now owns 1,098,328 shares of the company’s stock, valued at approximately $557,588,175.76. The disclosure for this sale can be found here. 1.75% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Clarus Wealth Advisors bought a new stake in BlackRock during the 2nd quarter valued at about $133,000. AlphaMark Advisors LLC bought a new stake in BlackRock during the 2nd quarter valued at about $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in BlackRock during the 2nd quarter valued at about $150,000. Kaizen Advisory LLC lifted its holdings in BlackRock by 156.7% during the 2nd quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock valued at $154,000 after buying an additional 188 shares in the last quarter. Finally, Canton Hathaway LLC bought a new stake in BlackRock during the 3rd quarter valued at about $146,000. Hedge funds and other institutional investors own 82.80% of the company’s stock.

About BlackRock

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for BlackRock (NYSE:BLK)

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