BlackRock (NYSE:BLK) Price Target Raised to $971.00

BlackRock (NYSE:BLK) had its price target raised by research analysts at JPMorgan Chase & Co. from $914.00 to $971.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 4.11% from the stock’s previous close.

Several other research firms have also weighed in on BLK. Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com began coverage on shares of BlackRock in a report on Wednesday, January 8th. They set a “hold” rating for the company. Morgan Stanley increased their target price on shares of BlackRock from $1,245.00 to $1,261.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Barclays decreased their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday. Finally, Wells Fargo & Company dropped their price objective on BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,088.67.

BlackRock Stock Performance

BlackRock stock opened at $1,012.62 on Tuesday. BlackRock has a 1 year low of $745.55 and a 1 year high of $1,082.45. The company’s 50-day moving average is $1,029.20 and its two-hundred day moving average is $943.81. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market cap of $156.83 billion, a PE ratio of 24.99, a PEG ratio of 1.92 and a beta of 1.28.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period last year, the firm earned $9.66 earnings per share. Equities analysts anticipate that BlackRock will post 43.18 earnings per share for the current year.

Insider Transactions at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackRock

A number of institutional investors and hedge funds have recently modified their holdings of the company. Pathway Financial Advisers LLC increased its position in BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after buying an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of BlackRock by 104,468.9% during the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after acquiring an additional 791,874 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in BlackRock during the 4th quarter valued at $330,662,000. FMR LLC increased its holdings in shares of BlackRock by 10.6% in the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after purchasing an additional 226,135 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of BlackRock during the 3rd quarter worth about $115,377,000. 80.69% of the stock is owned by 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.