Deutsche Bank Aktiengesellschaft Boosts BlackRock (NYSE:BLK) Price Target to $1,133.00

BlackRock (NYSE:BLK) had its target price boosted by Deutsche Bank Aktiengesellschaft from $1,105.00 to $1,133.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the asset manager’s stock.

Other research analysts have also recently issued research reports about the company. Morgan Stanley boosted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company upped their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, TD Cowen lifted their price target 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. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock Stock Performance

NYSE BLK opened at $1,047.01 on Monday. 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 $697.70 and a 1-year high of $1,068.34. The firm has a market capitalization of $155.09 billion, a P/E ratio of 25.84, a P/E/G ratio of 1.85 and a beta of 1.30. The business’s 50-day simple moving average is $962.02 and its 200-day simple moving average is $866.74.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the firm earned $10.91 earnings per share. BlackRock’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities analysts predict that BlackRock will post 43.17 EPS for the current year.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Pathway Financial Advisers LLC grew its stake in BlackRock by 89,389.4% during the 3rd 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 boosted its holdings in shares of BlackRock by 104,468.9% during the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after acquiring an additional 791,874 shares during the period. Capital Research Global Investors grew its position in shares of BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after acquiring an additional 435,358 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after acquiring an additional 292,017 shares during the period. Finally, FMR LLC lifted its position in BlackRock by 10.6% in the 3rd 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. 80.69% of the stock is currently owned by institutional investors.

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.