BlackRock (NYSE:BLK) Price Target Raised to $1,212.00

BlackRock (NYSE:BLK) had its price objective boosted by TD Cowen from $1,190.00 to $1,212.00 in a report published on Monday morning,Benzinga reports. The firm currently has a hold rating on the asset manager’s stock.

A number of other equities research analysts have also recently weighed in on the company. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. BNP Paribas Exane increased their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Wells Fargo & Company lowered their target price on BlackRock from $1,245.00 to $1,230.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. JPMorgan Chase & Co. raised their target price on BlackRock from $1,364.00 to $1,435.00 and gave the company an “overweight” rating in a research report on Tuesday, October 6th. Finally, Evercore reaffirmed an “outperform” rating and set a $1,275.00 target price on shares of BlackRock in a research note on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,308.62.

BlackRock Trading Up 0.8%

Shares of NYSE:BLK opened at $1,075.09 on Monday. The company has a market cap of $166.50 billion, a PE ratio of 20.84, a P/E/G ratio of 1.20 and a beta of 1.41. The company’s 50-day moving average price is $1,106.43 and its 200 day moving average price is $1,061.02. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.32 by $1.61. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same period in the previous year, the business posted $8.43 EPS. BlackRock’s revenue was up 19.1% on a year-over-year basis. Sell-side analysts anticipate that BlackRock will post 55.70 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were paid a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 8th. BlackRock’s dividend payout ratio (DPR) is presently 54.78%.

Hedge Funds Weigh In On BlackRock

Several hedge funds have recently modified their holdings of BLK. Breakwater Capital Group raised its holdings in BlackRock by 3.8% in the 1st quarter. Breakwater Capital Group now owns 271 shares of the asset manager’s stock valued at $261,000 after acquiring an additional 10 shares in the last quarter. Stronghold Wealth Management L.L.C. grew its holdings in shares of BlackRock by 2.9% during the 1st quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager’s stock worth $345,000 after purchasing an additional 10 shares in the last quarter. Financial Management Professionals Inc. grew its holdings in shares of BlackRock by 1.8% during the 2nd quarter. Financial Management Professionals Inc. now owns 564 shares of the asset manager’s stock worth $542,000 after purchasing an additional 10 shares in the last quarter. JNBA Financial Advisors grew its holdings in shares of BlackRock by 1.4% during the 2nd quarter. JNBA Financial Advisors now owns 706 shares of the asset manager’s stock worth $679,000 after purchasing an additional 10 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. increased its position in shares of BlackRock by 0.8% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 1,205 shares of the asset manager’s stock valued at $1,275,000 after purchasing an additional 10 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Broad earnings beat: BlackRock reported adjusted EPS of $15.93, above the $14.32 consensus estimate, while revenue rose 19.1% year over year to $7.75 billion versus expectations of $7.42 billion. Adjusted profit increased approximately 38%, marking another significant year-over-year improvement. BlackRock profit jumps as resilient markets boost fees
• Positive Sentiment: Record scale and strong inflows: Assets under management reached approximately $15.5 trillion, helped by $205 billion of quarterly net inflows, including $135 billion into ETFs. Strong institutional demand, higher asset valuations and continued iShares growth support future fee revenue. BlackRock pulls in $205bn to take assets to record high
• Positive Sentiment: Growth opportunities beyond traditional ETFs: Management pointed to continued momentum in private-markets fundraising, technology revenue, crypto ETFs and AI-related infrastructure investing. BlackRock also expects a seasonally strong fourth quarter, which reinforces the market’s view that growth can continue. BlackRock Expects Strong Fourth Quarter as AI Investment, Fundraising Grow
• Positive Sentiment: Private-market expansion: BlackRock’s capital commitments to areas such as infrastructure, private credit and Humana’s CenterWell clinic joint venture could broaden higher-fee revenue streams, although these initiatives are longer-term contributors. Humana Forms Joint Venture With BlackRock for 150 Senior Care Clinics
• Neutral Sentiment: Investment-positioning change: BlackRock has reduced its U.S. stock exposure and upgraded short-term Treasuries, arguing that bond yields are attractive and markets may be overestimating future Federal Reserve rate hikes. This may benefit fixed-income demand but also signals caution about near-term equity markets. BlackRock cools on US stocks, turns bullish on short-dated Treasuries
• Negative Sentiment: Rate and inflation risks remain an overhang: A hotter CPI reading pushed Treasury yields higher, potentially pressuring asset valuations and fee revenue. CEO Larry Fink’s warning that a data-center construction moratorium could trigger a recession also highlights BlackRock’s exposure to the AI investment cycle and related market risks. BlackRock’s Larry Fink warns a data center moratorium could trigger a recession

BlackRock Company Profile

BlackRock, Inc is a global investment management and financial technology company serving individual investors, institutions, governments and financial professionals. The company provides investment management, risk management and advisory services across a broad range of asset classes, including equities, fixed income, multi-asset strategies, alternatives and cash management.

BlackRock offers investment products through mutual funds, exchange-traded funds and other vehicles. Its iShares brand is one of the company’s principal platforms for exchange-traded funds, providing access to domestic and international markets, industry sectors, bonds, commodities and specialized investment strategies.

The company also provides technology and analytical solutions through its Aladdin platform, which is used by asset managers, institutional investors and other financial organizations for portfolio management, risk analysis, trading and operational support.