BlackRock (NYSE:BLK) Price Target Lowered to $1,224.00 at Keefe, Bruyette & Woods

BlackRock (NYSE:BLK) had its price target decreased by stock analysts at Keefe, Bruyette & Woods from $1,247.00 to $1,224.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 16.70% from the company’s current price.

BLK has been the topic of a number of other research reports. Citigroup dropped their price objective on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Barclays increased their price objective on BlackRock from $990.00 to $1,220.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Wells Fargo & Company reiterated an “overweight” rating on shares of BlackRock in a report on Tuesday, July 8th. Telsey Advisory Group reiterated an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Finally, TD Cowen lowered their price target on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,144.43.

BlackRock Trading Down 5.6%

NYSE:BLK opened at $1,048.82 on Wednesday. The stock’s 50 day moving average price is $1,003.13 and its 200 day moving average price is $971.46. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,112.13. The company has a market capitalization of $162.49 billion, a P/E ratio of 25.48, a P/E/G ratio of 2.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the company posted $10.36 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. On average, research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the sale, the director owned 66,034 shares in the company, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On BlackRock

A number of institutional investors have recently bought and sold shares of the business. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in BlackRock by 24.6% during the second quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 228 shares of the asset manager’s stock worth $239,000 after buying an additional 45 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in BlackRock by 2.1% during the second quarter. Perigon Wealth Management LLC now owns 2,647 shares of the asset manager’s stock worth $2,777,000 after buying an additional 55 shares in the last quarter. Plancorp LLC boosted its stake in BlackRock by 29.4% during the second quarter. Plancorp LLC now owns 330 shares of the asset manager’s stock worth $346,000 after buying an additional 75 shares in the last quarter. LeConte Wealth Management LLC acquired a new stake in BlackRock during the second quarter worth $244,000. Finally, BigSur Wealth Management LLC boosted its stake in BlackRock by 2.7% during the second quarter. BigSur Wealth Management LLC now owns 489 shares of the asset manager’s stock worth $513,000 after buying an additional 13 shares in the last quarter. Institutional investors and hedge funds 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.