BlackRock, Inc. (NYSE:BLK)‘s stock had its “outperform” rating reiterated by investment analysts at Credit Suisse Group in a report issued on Thursday.
Several other equities analysts have also commented on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $465.00 price target on shares of BlackRock in a research note on Thursday. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $500.00 price target on shares of BlackRock in a research note on Thursday. Barclays PLC raised their target price on shares of BlackRock from $475.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday. Morgan Stanley restated an “overweight” rating and set a $501.00 target price (up from $476.00) on shares of BlackRock in a research report on Thursday, October 5th. Finally, Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price on the stock in a research report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $478.50.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.09%. The firm’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm posted $5.14 earnings per share.
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In other BlackRock news, insider Jeff A. Smith sold 522 shares of the business’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total transaction of $220,033.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. Insiders have sold a total of 4,447 shares of company stock valued at $1,855,015 in the last quarter. 1.86% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in BLK. Waldron LP boosted its position in BlackRock by 108.2% during the 1st quarter. Waldron LP now owns 1,164 shares of the asset manager’s stock worth $446,000 after acquiring an additional 605 shares during the period. State of Wisconsin Investment Board lifted its holdings in shares of BlackRock by 8.2% in the first quarter. State of Wisconsin Investment Board now owns 119,650 shares of the asset manager’s stock valued at $45,887,000 after buying an additional 9,035 shares during the period. Mutual of America Capital Management LLC lifted its holdings in shares of BlackRock by 1.0% in the first quarter. Mutual of America Capital Management LLC now owns 14,786 shares of the asset manager’s stock valued at $5,671,000 after buying an additional 147 shares during the period. Lyell Wealth Management LP lifted its holdings in shares of BlackRock by 3.2% in the first quarter. Lyell Wealth Management LP now owns 9,061 shares of the asset manager’s stock valued at $3,475,000 after buying an additional 284 shares during the period. Finally, Buckingham Asset Management LLC lifted its holdings in shares of BlackRock by 18.1% in the first quarter. Buckingham Asset Management LLC now owns 2,094 shares of the asset manager’s stock valued at $803,000 after buying an additional 321 shares during the period. Institutional investors own 82.47% of the company’s stock.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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