BlackRock (NYSE:BLK) Price Target Raised to $1,300.00 at Evercore ISI

BlackRock (NYSE:BLK) had its price target increased by research analysts at Evercore ISI from $1,200.00 to $1,300.00 in a research note issued on Friday,MarketScreener reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. Evercore ISI’s target price would suggest a potential upside of 20.19% from the stock’s current price.

BLK has been the subject of several other reports. JPMorgan Chase & Co. lifted their price objective on BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. Barclays lifted their price target on BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Loop Capital set a $1,255.00 price objective on shares of BlackRock in a research note on Tuesday, October 21st. Citigroup lifted their target price on shares of BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, TD Cowen increased their price target on shares of BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $1,303.41.

BlackRock Stock Up 1.1%

Shares of NYSE BLK opened at $1,081.66 on Friday. The stock has a market capitalization of $167.50 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94. The firm has a 50-day moving average price of $1,130.62 and a 200 day moving average price of $1,068.02. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The company’s quarterly revenue was up 25.2% on a year-over-year basis. During the same period last year, the business posted $11.46 earnings per share. Equities research analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the sale, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of BlackRock by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 13,991,264 shares of the asset manager’s stock worth $14,680,334,000 after buying an additional 227,192 shares during the last quarter. Geode Capital Management LLC grew its position in BlackRock by 1.1% during the second quarter. Geode Capital Management LLC now owns 3,143,429 shares of the asset manager’s stock valued at $3,281,641,000 after acquiring an additional 34,049 shares during the period. Norges Bank acquired a new stake in BlackRock during the second quarter worth about $2,644,007,000. Franklin Resources Inc. lifted its stake in shares of BlackRock by 72.5% in the 2nd quarter. Franklin Resources Inc. now owns 2,005,358 shares of the asset manager’s stock valued at $2,104,122,000 after purchasing an additional 842,901 shares in the last quarter. Finally, Laurel Wealth Advisors LLC grew its holdings in shares of BlackRock by 105,267.4% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,705,899 shares of the asset manager’s stock worth $1,789,915,000 after purchasing an additional 1,704,280 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

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.