Deutsche Bank Aktiengesellschaft Boosts BlackRock (NYSE:BLK) Price Target to $1,380.00

BlackRock (NYSE:BLKGet Free Report) had its price target upped by investment analysts at Deutsche Bank Aktiengesellschaft from $1,296.00 to $1,380.00 in a report released on Thursday,MarketScreener reports. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 19.22% from the stock’s current price.

BLK has been the topic of several other research reports. Cowen cut BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday. Argus boosted their target price on BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Jefferies Financial Group upped 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. BNP Paribas Exane boosted their price objective on shares of BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Fifteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,303.18.

Check Out Our Latest Report on BLK

BlackRock Stock Performance

Shares of BLK stock traded up $65.70 during trading hours on Thursday, hitting $1,157.55. The stock had a trading volume of 1,400,755 shares, compared to its average volume of 788,618. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.33 and a quick ratio of 3.33. The firm has a market capitalization of $179.59 billion, a PE ratio of 29.76, a PEG ratio of 1.57 and a beta of 1.47. The stock’s 50 day moving average is $1,068.41 and its 200 day moving average is $1,103.49. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings results on Thursday, January 15th. The asset manager reported $13.16 EPS for the quarter, beating the consensus estimate of $12.55 by $0.61. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.80 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 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $11.93 EPS. As a group, research analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

Insider Activity at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the sale, the director owned 7,205 shares in the company, valued at $8,394,113.20. This represents a 62.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Martin Small sold 1,258 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $1,043.38, for a total value of $1,312,572.04. Following the completion of the transaction, the chief financial officer directly owned 6,209 shares of the company’s stock, valued at $6,478,346.42. The trade was a 16.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.98% of the stock is owned by insiders.

Institutional Investors Weigh In On BlackRock

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in BlackRock by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 13,991,264 shares of the asset manager’s stock worth $14,680,334,000 after purchasing an additional 227,192 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of BlackRock by 1.1% during the second quarter. Geode Capital Management LLC now owns 3,143,429 shares of the asset manager’s stock worth $3,281,641,000 after buying an additional 34,049 shares in the last quarter. Norges Bank acquired a new position in shares of BlackRock in the second quarter valued at approximately $2,644,007,000. Franklin Resources Inc. lifted its stake in shares of BlackRock by 72.5% during the second quarter. Franklin Resources Inc. now owns 2,005,358 shares of the asset manager’s stock valued at $2,104,122,000 after buying an additional 842,901 shares during the period. Finally, Capital International Investors boosted its position in BlackRock by 0.6% during the third quarter. Capital International Investors now owns 1,841,088 shares of the asset manager’s stock worth $2,146,663,000 after acquiring an additional 10,591 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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BlackRock Company Profile

(Get Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

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