BlackRock (NYSE:BLK) Price Target Increased to $1,070.00 by Analysts at Wells Fargo & Company

BlackRock (NYSE:BLK) had its price objective upped by research analysts at Wells Fargo & Company from $1,000.00 to $1,070.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 11.87% from the stock’s previous close.

A number of other equities analysts also recently issued reports on BLK. UBS Group lowered their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Argus upped their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley boosted their price target on shares of BlackRock from $1,036.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Monday. StockNews.com began coverage on BlackRock in a report on Friday, October 4th. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $948.93.

BlackRock Stock Up 0.8 %

NYSE BLK traded up $7.38 on Wednesday, hitting $956.45. 60,591 shares of the stock were exchanged, compared to its average volume of 572,293. BlackRock has a fifty-two week low of $596.18 and a fifty-two week high of $960.74. The company has a 50-day moving average price of $893.10 and a 200-day moving average price of $828.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market cap of $142.13 billion, a PE ratio of 24.31, a PEG ratio of 2.05 and a beta of 1.30.

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

Insider Activity at BlackRock

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction 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 sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This trade 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 the SEC website. In other news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The trade was 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 three months. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BlackRock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors lifted its stake in BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after buying an additional 435,358 shares in the last quarter. Mayflower Financial Advisors LLC boosted its stake in shares of BlackRock by 24,171.5% during the first quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock valued at $346,831,000 after acquiring an additional 414,300 shares during the last quarter. Vanguard Group Inc. increased its position in BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. M&G Plc acquired a new position in shares of BlackRock in the first quarter valued at approximately $161,918,000. Finally, Mubadala Investment Co PJSC acquired a new position in BlackRock in the 4th quarter valued at $147,748,000. Institutional investors and hedge funds 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.