BlackRock (NYSE:BLK) PT Raised to $914.00

BlackRock (NYSE:BLK) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $864.00 to $914.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 8.66% from the stock’s current price.

BLK has been the topic of a number of other reports. Wells Fargo & Company boosted 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. Argus lifted their price target on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods increased their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. StockNews.com started coverage on BlackRock in a report on Sunday. They issued a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $995.31.

BlackRock Stock Performance

Shares of BLK opened at $1,000.64 on Monday. The business has a 50-day simple moving average of $921.62 and a two-hundred day simple moving average of $840.57. 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 $1,032.00. The stock has a market cap of $148.70 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 1.94 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its earnings results 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 32.36% and a return on equity of 15.44%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the firm posted $10.91 EPS. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, analysts expect that BlackRock will post 41.73 EPS for the current year.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the 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 sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 11,061 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,527,116. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,042 shares of company stock worth $56,857,777 over the last quarter. Insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

A number of large investors have recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of BlackRock by 10.5% in the 1st quarter. International Assets Investment Management LLC now owns 874 shares of the asset manager’s stock worth $722,000 after buying an additional 83 shares during the period. AdvisorNet Financial Inc grew its holdings in BlackRock by 32.8% during the 1st quarter. AdvisorNet Financial Inc now owns 498 shares of the asset manager’s stock worth $415,000 after acquiring an additional 123 shares in the last quarter. Austin Private Wealth LLC increased its position in BlackRock by 13.1% during the 1st quarter. Austin Private Wealth LLC now owns 424 shares of the asset manager’s stock valued at $345,000 after purchasing an additional 49 shares during the period. Gateway Investment Advisers LLC raised its holdings in shares of BlackRock by 4.5% in the 1st quarter. Gateway Investment Advisers LLC now owns 2,873 shares of the asset manager’s stock valued at $2,395,000 after purchasing an additional 125 shares in the last quarter. Finally, West Coast Financial LLC bought a new stake in shares of BlackRock in the 1st quarter valued at about $240,000. Hedge funds and other 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.