BlackRock (NYSE:BLK) Price Target Raised to $1,200.00

BlackRock (NYSE:BLK) had its target price increased by equities researchers at Citigroup from $1,150.00 to $1,200.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. Citigroup’s price target would suggest a potential upside of 16.65% from the stock’s current price.

BLK has been the subject of several other research reports. StockNews.com initiated coverage on shares of BlackRock in a research note on Monday. They set a “hold” rating for the company. JPMorgan Chase & Co. increased their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Morgan Stanley upped their price target on BlackRock from $1,245.00 to $1,261.00 and gave the company an “overweight” rating in a research report on Friday. Barclays increased their target price on shares of BlackRock from $1,120.00 to $1,220.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,063.00.

BlackRock Price Performance

Shares of BLK opened at $1,028.69 on Monday. The stock has a market cap of $159.32 billion, a P/E ratio of 25.39, a P/E/G ratio of 1.92 and a beta of 1.28. The business’s fifty day moving average is $1,023.10 and its 200 day moving average is $915.10. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock has a 12-month low of $745.55 and a 12-month high of $1,082.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period last year, the company earned $10.91 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. Sell-side analysts anticipate that BlackRock will post 43.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Trading of BlackRock

Large investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC grew its stake in shares of BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after purchasing an additional 1,044,962 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of BlackRock by 104,468.9% in the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after buying an additional 791,874 shares during the last quarter. FMR LLC grew its position in BlackRock by 10.6% during the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after buying an additional 226,135 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in BlackRock during the third quarter valued at approximately $115,377,000. Finally, BNP Paribas Financial Markets raised its position in BlackRock by 48.3% in the third quarter. BNP Paribas Financial Markets now owns 337,172 shares of the asset manager’s stock worth $320,148,000 after acquiring an additional 109,771 shares during the period. 80.69% of the stock is currently owned by 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.