BlackRock (NYSE:BLK) PT Raised to $1,040.00 at Evercore ISI

BlackRock (NYSE:BLK) had its price target upped by investment analysts at Evercore ISI from $995.00 to $1,040.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Evercore ISI’s target price suggests a potential upside of 4.47% from the company’s previous close.

A number of other brokerages have also commented on BLK. Citigroup increased their price target on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. TD Cowen raised their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday. Argus boosted their price target on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Morgan Stanley increased their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods upped their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $983.00.

BlackRock Trading Up 0.5 %

BLK stock opened at $995.51 on Monday. The company has a market capitalization of $147.93 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock has a 1-year low of $596.18 and a 1-year high of $996.29. The business has a 50 day simple moving average of $899.39 and a two-hundred day simple moving average of $831.33.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the company posted $10.91 earnings per share. Research analysts anticipate that BlackRock will post 41.73 EPS for the current fiscal year.

Insider Activity

In related news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of BlackRock

Several hedge funds have recently modified their holdings of BLK. XML Financial LLC increased its position in shares of BlackRock by 2.6% during the second quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after purchasing an additional 12 shares in the last quarter. Pine Haven Investment Counsel Inc increased its position in BlackRock by 1.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 937 shares of the asset manager’s stock valued at $890,000 after buying an additional 12 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in BlackRock by 6.1% in the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after buying an additional 13 shares during the last quarter. Forza Wealth Management LLC boosted its holdings in BlackRock by 1.3% in the second quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after acquiring an additional 13 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its stake in shares of BlackRock by 4.4% during the second quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock worth $243,000 after acquiring an additional 13 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Company Profile

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.