BlackRock (NYSE:BLK) Stock Price Expected to Rise, Evercore ISI Analyst Says

BlackRock (NYSE:BLK) had its price target hoisted by equities research analysts at Evercore ISI from $1,200.00 to $1,300.00 in a research note issued to investors on Friday,MarketScreener reports. The firm presently has an “outperform” rating on the asset manager’s stock. Evercore ISI’s price objective indicates a potential upside of 20.19% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Barclays lifted their price objective on shares of BlackRock from $1,310.00 to $1,360.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. The Goldman Sachs Group boosted their price objective on shares of BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Keefe, Bruyette & Woods upped their price objective on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Cowen reaffirmed a “buy” rating on shares of BlackRock in a research report on Wednesday, October 15th. Finally, Jefferies Financial Group boosted their price target on BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $1,303.41.

BlackRock Trading Up 1.1%

Shares of BLK opened at $1,081.66 on Friday. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,219.94. The stock’s 50-day moving average is $1,130.62 and its two-hundred day moving average is $1,068.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The stock has a market cap of $167.50 billion, a PE ratio of 27.81, a P/E/G ratio of 1.90 and a beta of 1.48.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate of $11.78 by ($0.23). The company had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The business’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $11.46 earnings per share. Equities analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares in the company, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On BlackRock

A number of large investors have recently bought and sold shares of BLK. Welch Group LLC raised its position in shares of BlackRock by 1.2% during the 2nd quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock worth $797,000 after purchasing an additional 9 shares during the period. Stanley Laman Group Ltd. grew its stake in BlackRock by 2.7% during the 2nd quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock worth $357,000 after buying an additional 9 shares during the last quarter. CNB Bank increased its position in BlackRock by 9.6% in the second quarter. CNB Bank now owns 103 shares of the asset manager’s stock worth $108,000 after buying an additional 9 shares during the period. Magellan Asset Management Ltd lifted its stake in BlackRock by 14.3% in the second quarter. Magellan Asset Management Ltd now owns 72 shares of the asset manager’s stock valued at $76,000 after buying an additional 9 shares during the last quarter. Finally, FAS Wealth Partners Inc. boosted its holdings in shares of BlackRock by 1.1% during the second quarter. FAS Wealth Partners Inc. now owns 817 shares of the asset manager’s stock valued at $857,000 after acquiring an additional 9 shares during the period. Institutional investors own 80.69% of the company’s stock.

About BlackRock

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.