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

BlackRock (NYSE:BLK) had its price target boosted by Barclays from $1,120.00 to $1,220.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the asset manager’s stock. Barclays‘s price target would suggest a potential upside of 15.25% from the company’s previous close.

Other equities analysts have also issued reports about the stock. TD Cowen boosted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company boosted their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Morgan Stanley increased their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their target price on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,027.31.

BlackRock Trading Up 1.2 %

BlackRock stock opened at $1,058.57 on Monday. BlackRock has a 12 month low of $744.32 and a 12 month high of $1,068.34. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The business’s fifty day simple moving average is $1,006.40 and its two-hundred day simple moving average is $898.79. The company has a market capitalization of $163.95 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 1.88 and a beta of 1.28.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. BlackRock’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $10.91 EPS. As a group, equities analysts predict that BlackRock will post 43.18 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the transaction, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,190 shares of company stock valued at $113,161,681 over the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BlackRock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLK. Marino Stram & Associates LLC increased its holdings in shares of BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after buying an additional 10 shares during the last quarter. Fidelity D & D Bancorp Inc. increased its stake in BlackRock by 3.7% during the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after acquiring an additional 10 shares during the last quarter. Onyx Bridge Wealth Group LLC raised its holdings in shares of BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after purchasing an additional 11 shares during the period. Ballentine Partners LLC lifted its stake 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 purchasing an additional 11 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of BlackRock by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after purchasing an additional 11 shares during the period. 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.