BlackRock (NYSE:BLK) had its target price increased by investment analysts at Wells Fargo & Co from $460.00 to $480.00 in a research note issued on Wednesday, The Fly reports. The firm presently has an “average” rating on the asset manager’s stock. Wells Fargo & Co‘s target price would suggest a potential upside of 2.94% from the company’s current price.
A number of other equities research analysts have also issued reports on the company. Barclays boosted their target price on BlackRock from $490.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley boosted their target price on BlackRock from $536.00 to $545.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup boosted their target price on BlackRock from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $491.00 target price on the stock in a research report on Tuesday, April 2nd. Finally, Deutsche Bank boosted their target price on BlackRock from $428.00 to $431.00 and gave the stock a “hold” rating in a research report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $509.38.
Shares of BLK traded down $1.21 during midday trading on Wednesday, reaching $466.28. The stock had a trading volume of 99,680 shares, compared to its average volume of 618,823. BlackRock has a 52 week low of $360.79 and a 52 week high of $557.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $73.45 billion, a PE ratio of 17.31, a P/E/G ratio of 1.70 and a beta of 1.40.
BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.13 by $0.48. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.30 billion. BlackRock had a return on equity of 13.51% and a net margin of 30.32%. BlackRock’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.48 earnings per share. On average, equities research analysts forecast that BlackRock will post 27.07 EPS for the current fiscal year.
In related news, insider Jeff A. Smith sold 300 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $468.22, for a total transaction of $140,466.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 25,102 shares of the company’s stock in a transaction on Friday, January 18th. The shares were sold at an average price of $418.89, for a total value of $10,514,976.78. The disclosure for this sale can be found here. Insiders have sold 138,950 shares of company stock worth $57,914,555 over the last three months. 1.75% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Somerset Trust Co grew its stake in BlackRock by 0.6% in the first quarter. Somerset Trust Co now owns 3,678 shares of the asset manager’s stock valued at $1,572,000 after purchasing an additional 23 shares in the last quarter. First Manhattan Co. boosted its stake in shares of BlackRock by 3.5% during the 1st quarter. First Manhattan Co. now owns 707 shares of the asset manager’s stock worth $302,000 after acquiring an additional 24 shares in the last quarter. Shine Investment Advisory Services Inc. boosted its stake in shares of BlackRock by 18.1% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 176 shares of the asset manager’s stock worth $69,000 after acquiring an additional 27 shares in the last quarter. IMS Capital Management boosted its stake in shares of BlackRock by 0.8% during the 3rd quarter. IMS Capital Management now owns 3,510 shares of the asset manager’s stock worth $1,654,000 after acquiring an additional 28 shares in the last quarter. Finally, Clarus Wealth Advisors boosted its stake in shares of BlackRock by 7.2% during the 1st quarter. Clarus Wealth Advisors now owns 432 shares of the asset manager’s stock worth $184,000 after acquiring an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.
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.
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