BlackRock (NYSE:BLK) Given New $1,250.00 Price Target at BMO Capital Markets

BlackRock (NYSE:BLK) had its price target boosted by research analysts at BMO Capital Markets from $1,200.00 to $1,250.00 in a research note issued to investors on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the asset manager’s stock. BMO Capital Markets’ target price suggests a potential upside of 18.24% from the company’s previous close.

Several other brokerages also recently commented on BLK. Keefe, Bruyette & Woods upped their target price on BlackRock from $1,150.00 to $1,240.00 and gave the company an “outperform” rating in a report on Wednesday, April 15th. BNP Paribas Exane boosted their price target on shares of BlackRock from $1,290.00 to $1,300.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Freedom Capital raised shares of BlackRock from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of BlackRock in a report on Friday, March 27th. Finally, TD Cowen decreased their target price on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $1,269.06.

BlackRock Stock Performance

BLK opened at $1,057.15 on Monday. BlackRock has a twelve month low of $845.82 and a twelve month high of $1,219.94. The stock has a market cap of $164.43 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.37 and a beta of 1.48. The business’s 50 day moving average is $1,012.55 and its 200-day moving average is $1,066.51. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.40 by $0.13. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.96%. BlackRock’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.64 EPS. On average, analysts predict that BlackRock will post 47.41 earnings per share for the current year.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 385 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $1,084.91, for a total value of $417,690.35. Following the completion of the transaction, the director directly owned 3,335 shares of the company’s stock, valued at $3,618,174.85. This trade represents a 10.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert L. Goldstein sold 5,293 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $1,084.22, for a total transaction of $5,738,776.46. Following the completion of the transaction, the chief operating officer directly owned 46,185 shares of the company’s stock, valued at $50,074,700.70. This trade represents a 10.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 84,272 shares of company stock worth $92,323,426 in the last 90 days. 1.92% of the stock is owned by company insiders.

Institutional Trading of BlackRock

Several institutional investors have recently bought and sold shares of BLK. Cidel Asset Management Inc. boosted its stake in shares of BlackRock by 15.7% in the 1st quarter. Cidel Asset Management Inc. now owns 687 shares of the asset manager’s stock valued at $661,000 after purchasing an additional 93 shares in the last quarter. New Covenant Trust Company N.A. grew its stake in BlackRock by 9.5% during the first quarter. New Covenant Trust Company N.A. now owns 230 shares of the asset manager’s stock worth $221,000 after buying an additional 20 shares during the last quarter. Krilogy Financial LLC increased its holdings in shares of BlackRock by 43.8% during the first quarter. Krilogy Financial LLC now owns 5,542 shares of the asset manager’s stock worth $5,680,000 after buying an additional 1,687 shares in the last quarter. WealthBridge Capital Management LLC boosted its holdings in shares of BlackRock by 85.0% in the 1st quarter. WealthBridge Capital Management LLC now owns 407 shares of the asset manager’s stock worth $391,000 after acquiring an additional 187 shares in the last quarter. Finally, Signal Advisors Wealth LLC bought a new stake in BlackRock during the 1st quarter worth approximately $259,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Company Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.