BlackRock (NYSE:BLK) Price Target Raised to $1,045.00

BlackRock (NYSE:BLK) had its price target boosted by stock analysts at UBS Group from $1,017.00 to $1,045.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. UBS Group’s price target would indicate a potential upside of 2.96% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. TD Cowen raised their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citigroup raised their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Barclays lowered their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Trading Up 1.0 %

NYSE:BLK traded up $10.01 during trading hours on Tuesday, hitting $1,014.97. The stock had a trading volume of 135,651 shares, compared to its average volume of 785,817. BlackRock has a one year low of $745.55 and a one year high of $1,082.45. The company has a market cap of $157.20 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 1.82 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The business’s 50 day moving average is $1,026.34 and its 200-day moving average is $949.91.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the company posted $9.66 earnings per share. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. Sell-side analysts anticipate that BlackRock will post 47.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction that occurred 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 transaction, the director now owns 6,480 shares of the company’s stock, valued at $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BLK. State Street Corp grew its position in BlackRock by 0.7% during the third quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock valued at $5,681,472,000 after buying an additional 42,757 shares during the period. Geode Capital Management LLC increased its stake in shares of BlackRock by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock worth $2,663,330,000 after purchasing an additional 30,182 shares during the last quarter. FMR LLC raised its holdings in shares of BlackRock by 10.6% in the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after purchasing an additional 226,135 shares during the period. Fisher Asset Management LLC increased its position in BlackRock by 1.9% in the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock worth $2,081,561,000 after buying an additional 40,865 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of BlackRock by 2.9% in the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after buying an additional 46,728 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.