Deutsche Bank Aktiengesellschaft Boosts BlackRock (NYSE:BLK) Price Target to $1,275.00

BlackRock (NYSE:BLK) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $1,215.00 to $1,275.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 26.96% from the company’s current price.

Several other analysts have also recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research note on Tuesday. TD Cowen increased their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays reduced their price objective on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Citigroup upped their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Finally, Morgan Stanley upped their target price on shares of BlackRock from $1,245.00 to $1,261.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,103.33.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,004.23 on Thursday. The company has a market capitalization of $155.54 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.53 and a beta of 1.28. 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 stock’s 50-day simple moving average is $1,028.03 and its 200-day simple moving average is $944.64. BlackRock has a 52 week low of $745.55 and a 52 week high of $1,082.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the company posted $9.66 EPS. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, analysts expect that BlackRock will post 43.02 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Several large investors have recently modified their holdings of the business. FSA Wealth Management LLC bought a new position in BlackRock in the third quarter worth approximately $26,000. Fairscale Capital LLC bought a new position in shares of BlackRock in the 2nd quarter worth $31,000. Atwood & Palmer Inc. bought a new stake in BlackRock during the fourth quarter valued at about $36,000. Reston Wealth Management LLC purchased a new position in BlackRock in the third quarter valued at about $37,000. Finally, MFA Wealth Advisors LLC raised its holdings in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 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.