BlackRock (NYSE:BLK) Price Target Raised to $1,464.00 at Bank of America

BlackRock (NYSE:BLK) had its price objective hoisted by Bank of America from $1,456.00 to $1,464.00 in a report issued on Wednesday,MarketScreener reports. Bank of America‘s price target would suggest a potential upside of 34.82% from the company’s current price.

Several other equities analysts have also recently commented on BLK. TD Cowen upped their price target on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Citigroup boosted their price objective on BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Jefferies Financial Group raised their target price on BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. BMO Capital Markets lifted their price target on shares of BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Finally, Evercore ISI boosted their price target on shares of BlackRock from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Eighteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,314.82.

BlackRock Trading Up 0.2%

Shares of BLK stock opened at $1,085.88 on Wednesday. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94. The firm’s fifty day simple moving average is $1,094.69 and its 200 day simple moving average is $1,086.58. The firm has a market capitalization of $168.47 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 1.61 and a beta of 1.47. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.34.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 14.80%. BlackRock’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period last year, the company earned $11.46 earnings per share. As a group, sell-side analysts predict that BlackRock will post 47.41 EPS for the current year.

Insider Activity at BlackRock

In other news, CFO Martin Small sold 1,258 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $1,043.38, for a total value of $1,312,572.04. Following the completion of the sale, the chief financial officer directly owned 6,209 shares in the company, valued at approximately $6,478,346.42. This trade represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Rachel Lord sold 12,000 shares of BlackRock 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 completion of the transaction, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.98% of the stock is owned by insiders.

Institutional Trading of BlackRock

Hedge funds have recently modified their holdings of the stock. Brighton Jones LLC grew its position in shares of BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after buying an additional 296 shares during the period. Bison Wealth LLC boosted its stake in BlackRock by 1.6% in the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after acquiring an additional 17 shares during the last quarter. Meridian Wealth Management LLC boosted its stake in BlackRock by 6.8% in the first quarter. Meridian Wealth Management LLC now owns 502 shares of the asset manager’s stock valued at $475,000 after acquiring an additional 32 shares during the last quarter. S Bank Fund Management Ltd acquired a new stake in BlackRock during the 1st quarter worth $493,000. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of BlackRock by 4.1% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,315 shares of the asset manager’s stock valued at $4,084,000 after acquiring an additional 170 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

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.