BlackRock (NYSE:BLK) had its price target increased by analysts at Morgan Stanley from $890.00 to $924.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s price target points to a potential upside of 16.26% from the stock’s current price.
BLK has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $835.00 to $838.00 and gave the company a “buy” rating in a report on Friday, January 15th. BMO Capital Markets raised their price target on shares of BlackRock from $709.00 to $715.00 and gave the stock a “market perform” rating in a research note on Friday, January 15th. Wells Fargo & Company upped their price objective on BlackRock from $875.00 to $890.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays raised their target price on BlackRock from $800.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, January 15th. Finally, Zacks Investment Research cut BlackRock from a “buy” rating to a “hold” rating and set a $733.00 price objective for the company. in a report on Monday, December 21st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. BlackRock has an average rating of “Buy” and a consensus target price of $740.09.
Shares of BLK traded up $6.74 during trading hours on Thursday, reaching $794.74. 927 shares of the company traded hands, compared to its average volume of 707,522. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.01. The stock’s fifty day moving average is $725.50 and its 200 day moving average is $688.58. BlackRock has a 1-year low of $440.00 and a 1-year high of $790.22. The stock has a market cap of $121.30 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 13th. The asset manager reported $10.18 EPS for the quarter, beating the consensus estimate of $9.14 by $1.04. BlackRock had a return on equity of 15.74% and a net margin of 30.43%. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the prior year, the firm posted $8.34 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities research analysts predict that BlackRock will post 36.68 EPS for the current year.
In related news, CEO Laurence Fink sold 27,400 shares of the stock in a transaction that occurred on Tuesday, February 2nd. The shares were sold at an average price of $728.77, for a total value of $19,968,298.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Gary Shedlin sold 3,206 shares of the firm’s stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $730.41, for a total transaction of $2,341,694.46. The disclosure for this sale can be found here. In the last three months, insiders sold 40,418 shares of company stock valued at $29,492,515. 1.42% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Birch Capital Management LLC bought a new position in BlackRock during the first quarter worth about $26,000. McCarthy Asset Management Inc. acquired a new stake in shares of BlackRock in the 4th quarter valued at approximately $25,000. Sittner & Nelson LLC bought a new position in BlackRock during the 4th quarter worth approximately $25,000. Baron Silver Stevens Financial Advisors LLC acquired a new position in BlackRock during the fourth quarter valued at approximately $35,000. Finally, SOA Wealth Advisors LLC. bought a new stake in BlackRock in the fourth quarter valued at approximately $36,000. 79.10% of the stock is currently owned by institutional investors.
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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