BlackRock (NYSE:BLK) PT Raised to $1,077.00

BlackRock (NYSE:BLK) had its price target upped by investment analysts at TD Cowen from $960.00 to $1,077.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. TD Cowen’s target price points to a potential upside of 12.01% from the stock’s current price.

BLK has been the topic of a number of other reports. Wells Fargo & Company raised their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group reduced their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. StockNews.com assumed coverage on shares of BlackRock in a research note on Friday, October 4th. They issued a “hold” rating on the stock. Barclays raised their price target on shares of BlackRock from $990.00 to $1,010.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $956.64.

BlackRock Price Performance

BLK stock traded up $5.59 during mid-day trading on Thursday, hitting $961.51. The stock had a trading volume of 84,409 shares, compared to its average volume of 572,361. The company has a current ratio of 5.06, a quick 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 $963.33. The firm has a market capitalization of $142.88 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.05 and a beta of 1.30. The firm has a fifty day simple moving average of $894.70 and a 200 day simple moving average of $829.20.

BlackRock (NYSE:BLK) last released its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the firm earned $9.28 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts forecast that BlackRock will post 41.37 EPS for the current year.

Insider Transactions at BlackRock

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

Institutional Trading of BlackRock

Hedge funds have recently modified their holdings of the stock. Redmont Wealth Advisors LLC bought a new stake in BlackRock during the 1st quarter valued at $27,000. Pineridge Advisors LLC bought a new stake in BlackRock during the 4th quarter valued at $28,000. Fairscale Capital LLC bought a new stake in BlackRock during the 2nd quarter valued at $31,000. Lam Group Inc. bought a new stake in BlackRock during the 1st quarter valued at $33,000. Finally, Fairman Group LLC bought a new stake in BlackRock during the 4th quarter valued at $35,000. 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.