Barclays Boosts BlackRock (NYSE:BLK) Price Target to $1,010.00

BlackRock (NYSE:BLK) had its target price upped by equities researchers at Barclays from $990.00 to $1,010.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the asset manager’s stock. Barclays‘s price target would indicate a potential upside of 7.39% from the company’s current price.

A number of other equities research analysts have also weighed in on BLK. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. The Goldman Sachs Group boosted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup increased their price target on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley increased their target price on shares of BlackRock from $1,036.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Evercore ISI increased their target price on shares of BlackRock from $945.00 to $995.00 and gave the company an “outperform” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $943.93.

BlackRock Trading Down 0.9 %

BlackRock stock traded down $8.68 during midday trading on Monday, reaching $940.51. The stock had a trading volume of 267,937 shares, compared to its average volume of 574,373. The company has a fifty day moving average of $890.01 and a 200 day moving average of $826.73. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock has a 52-week low of $596.18 and a 52-week high of $960.74. The firm has a market cap of $139.76 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30.

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

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,042 shares of company stock worth $79,387,117 over the last 90 days. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Large investors have recently added to or reduced their stakes in the business. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock during the 1st quarter worth $27,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock during the fourth quarter valued at about $28,000. Fairscale Capital LLC bought a new position in shares of BlackRock during the second quarter worth about $31,000. Lam Group Inc. bought a new position in shares of BlackRock during the first quarter worth about $33,000. Finally, Fairman Group LLC bought a new stake in BlackRock in the fourth quarter worth approximately $35,000. 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.