BlackRock (NYSE:BLK) Given New $864.00 Price Target at JPMorgan Chase & Co.

BlackRock (NYSE:BLK) had its target price upped by investment analysts at JPMorgan Chase & Co. from $774.00 to $864.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 7.52% from the company’s current price.

A number of other research firms also recently weighed in on BLK. StockNews.com initiated coverage on BlackRock in a research note on Thursday, September 26th. They issued a “hold” rating on the stock. UBS Group decreased their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Citigroup boosted their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Barclays boosted their target price on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Wells Fargo & Company assumed coverage on BlackRock in a research report on Thursday, September 12th. They set an “overweight” rating and a $1,000.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $908.60.

BlackRock Trading Down 1.6 %

BlackRock stock traded down $15.30 during midday trading on Tuesday, reaching $934.21. 222,707 shares of the stock traded hands, compared to its average volume of 576,156. The company has a 50-day simple moving average of $881.47 and a two-hundred day simple moving average of $822.72. 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 firm has a market cap of $138.82 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. BlackRock has a 12-month low of $596.18 and a 12-month high of $952.75.

BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the company earned $9.28 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. Research analysts expect that BlackRock will post 41.37 earnings per share for the current fiscal year.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred 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 completion of the transaction, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The stock was 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 approximately $5,832,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of BlackRock

Hedge funds have recently made changes to their positions in the stock. Neville Rodie & Shaw Inc. raised its stake in BlackRock by 5.1% during the 3rd quarter. Neville Rodie & Shaw Inc. now owns 518 shares of the asset manager’s stock valued at $492,000 after acquiring an additional 25 shares in the last quarter. Ashburton Jersey Ltd bought a new stake in shares of BlackRock in the 2nd quarter worth $61,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of BlackRock by 1,600.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,000 shares of the asset manager’s stock worth $13,384,000 after buying an additional 16,000 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of BlackRock in the 2nd quarter worth $24,957,000. Finally, SRN Advisors LLC raised its stake in shares of BlackRock by 45.1% in the 2nd quarter. SRN Advisors LLC now owns 2,155 shares of the asset manager’s stock worth $1,697,000 after buying an additional 670 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

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.