Deutsche Bank Aktiengesellschaft Issues Positive Forecast for BlackRock (NYSE:BLK) Stock Price

BlackRock (NYSE:BLK) had its target price lifted by Deutsche Bank Aktiengesellschaft from $1,215.00 to $1,275.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 25.91% from the stock’s previous close.

BLK has been the topic of several other research reports. Keefe, Bruyette & Woods lowered their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday. TD Cowen boosted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group raised their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Evercore ISI increased their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price objective on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average target price of $1,100.50.

BlackRock Stock Performance

Shares of BLK opened at $1,012.62 on Thursday. The firm’s 50 day moving average price is $1,029.20 and its two-hundred day moving average price is $943.81. 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 has a twelve month low of $745.55 and a twelve month high of $1,082.45. The firm has a market cap of $156.83 billion, a P/E ratio of 24.99, a PEG ratio of 1.92 and a beta of 1.28.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.66 earnings per share. On average, analysts forecast that BlackRock will post 43.18 EPS for the current fiscal year.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $6,777,432. This represents a 84.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the sale, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BLK. Stillwater Capital Advisors LLC raised its stake in BlackRock by 1.3% during the fourth quarter. Stillwater Capital Advisors LLC now owns 18,997 shares of the asset manager’s stock valued at $19,474,000 after purchasing an additional 237 shares in the last quarter. Clarius Group LLC purchased a new position in BlackRock in the 4th quarter worth about $802,000. Joule Financial LLC bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $211,000. Aaron Wealth Advisors LLC lifted its holdings in shares of BlackRock by 10.8% in the 4th quarter. Aaron Wealth Advisors LLC now owns 904 shares of the asset manager’s stock worth $927,000 after buying an additional 88 shares during the period. Finally, Moss Adams Wealth Advisors LLC raised its holdings in shares of BlackRock by 10.0% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 341 shares of the asset manager’s stock valued at $350,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

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.