BlackRock (NYSE:BLK) PT Raised to $945.00

BlackRock (NYSE:BLK) had its price target hoisted by research analysts at Evercore ISI from $920.00 to $945.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Evercore ISI’s price target would suggest a potential upside of 6.61% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Argus upped their price objective on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. TD Cowen dropped their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Morgan Stanley cut their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Barclays started coverage on BlackRock in a research note on Tuesday, August 27th. They set an “overweight” rating and a $985.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $883.13.

BlackRock Stock Performance

Shares of BLK opened at $886.41 on Thursday. The stock’s 50-day simple moving average is $845.08 and its 200 day simple moving average is $810.81. BlackRock has a 52-week low of $596.18 and a 52-week high of $903.46. The stock has a market capitalization of $131.72 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 1.97 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the prior year, the firm posted $9.28 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. Research analysts forecast that BlackRock will post 41.34 EPS for the current fiscal year.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after acquiring an additional 292,017 shares in the last quarter. Capital Research Global Investors grew its position in shares of BlackRock by 11.1% in the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares during the period. Capital World Investors boosted its holdings in BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after buying an additional 1,279,952 shares during the last quarter. Capital International Investors boosted its stake in shares of BlackRock by 2.4% in the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after acquiring an additional 58,681 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of BlackRock during the fourth quarter worth approximately $1,812,920,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

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.