JPMorgan Chase & Co. Boosts BlackRock (NYSE:BLK) Price Target to $914.00

BlackRock (NYSE:BLK) had its price objective boosted by JPMorgan Chase & Co. from $864.00 to $914.00 in a report published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

A number of other research firms also recently issued reports on BLK. TD Cowen lifted their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays lifted their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods increased their price target on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, StockNews.com assumed coverage on BlackRock in a research note on Sunday. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $995.31.

BlackRock Stock Down 1.3 %

BLK opened at $988.16 on Monday. The stock has a market cap of $146.84 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm’s fifty day moving average is $924.23 and its 200 day moving average is $841.60. BlackRock has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the firm posted $10.91 EPS. The company’s revenue was up 14.9% on a year-over-year basis. On average, sell-side analysts forecast that BlackRock will post 41.73 earnings per share for the current fiscal year.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,042 shares of company stock worth $56,857,777. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Marino Stram & Associates LLC boosted its stake in shares of BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after purchasing an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC boosted its position in BlackRock by 3.5% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after acquiring an additional 11 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after acquiring an additional 11 shares during the period. XML Financial LLC lifted its stake in shares of BlackRock by 2.6% during the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after purchasing an additional 12 shares during the last quarter. Finally, Pine Haven Investment Counsel Inc boosted its position in BlackRock by 1.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 937 shares of the asset manager’s stock valued at $890,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors 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.