BlackRock, Inc. (NYSE:BLK) had its target price increased by research analysts at Barclays PLC from $475.00 to $500.00 in a research note issued to investors on Tuesday. The brokerage currently has an “overweight” rating on the asset manager’s stock. Barclays PLC’s price target would indicate a potential upside of 5.50% from the company’s current price.
A number of other brokerages have also issued reports on BLK. Morgan Stanley reaffirmed an “overweight” rating and issued a $501.00 price target (up from $476.00) on shares of BlackRock in a research note on Thursday, October 5th. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target on the stock in a research note on Tuesday, October 3rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $440.00 price target on shares of BlackRock in a research note on Friday, July 14th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $440.00 price target on shares of BlackRock in a research note on Tuesday, September 26th. Finally, Goldman Sachs Group, Inc. (The) raised BlackRock from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $440.00 to $500.00 in a research note on Thursday, September 28th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. BlackRock has a consensus rating of “Buy” and an average target price of $468.54.
Shares of BlackRock (NYSE BLK) opened at 473.93 on Tuesday. The stock has a market capitalization of $76.87 billion, a PE ratio of 22.75 and a beta of 1.72. The stock’s 50 day moving average price is $433.75 and its 200 day moving average price is $414.44. BlackRock has a one year low of $336.84 and a one year high of $474.37.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, October 16th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.49 by $0.43. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The business’s revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.14 earnings per share. Equities research analysts predict that BlackRock will post $22.01 EPS for the current fiscal year.
In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of BlackRock stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeff A. Smith sold 250 shares of BlackRock stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. Insiders sold 4,447 shares of company stock worth $1,855,015 in the last 90 days. Company insiders own 1.86% of the company’s stock.
Large investors have recently bought and sold shares of the business. Salem Investment Counselors Inc. raised its position in BlackRock by 14.3% in the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after purchasing an additional 30 shares during the period. Proficio Capital Partners LLC raised its position in BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 85 shares during the period. Enterprise Financial Services Corp raised its position in BlackRock by 52.5% in the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after purchasing an additional 85 shares during the period. Penserra Capital Management LLC purchased a new stake in BlackRock in the second quarter valued at $104,000. Finally, Kings Point Capital Management raised its position in BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 70 shares during the period. Institutional investors own 82.47% of the company’s stock.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
Receive News & Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related companies with MarketBeat.com's FREE daily email newsletter.