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

BlackRock (NYSE:BLK) had its price target boosted by equities researchers at Barclays from $1,120.00 to $1,220.00 in a report released on Monday, December 9th,Benzinga reports. The brokerage presently has an “overweight” rating on the asset manager’s stock. Barclays‘s price target indicates a potential upside of 16.28% from the company’s current price.

Other analysts also recently issued reports about the company. Wells Fargo & Company upped their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group upped their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. StockNews.com initiated coverage on shares of BlackRock in a research report on Saturday, December 7th. They issued a “hold” rating on the stock. Evercore ISI upped their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley lifted their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,039.17.

BlackRock Trading Down 0.0 %

BLK opened at $1,049.16 on Monday. The firm has a market cap of $162.49 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.28. BlackRock has a 52 week low of $745.55 and a 52 week high of $1,082.45. The business’s 50 day moving average is $1,019.85 and its two-hundred day moving average is $910.97. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. BlackRock’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.91 EPS. On average, research analysts predict that BlackRock will post 43.18 EPS for the current year.

Insider Activity

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the firm’s 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 completion of the transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Wiedman sold 36,190 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

A number of large investors have recently made changes to their positions in BLK. Legacy Wealth Management LLC MS lifted its holdings in BlackRock by 20.6% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 603 shares of the asset manager’s stock valued at $573,000 after purchasing an additional 103 shares in the last quarter. Fidelity D & D Bancorp Inc. lifted its stake in shares of BlackRock by 3.7% during the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock valued at $263,000 after buying an additional 10 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in BlackRock in the 3rd quarter worth approximately $518,000. Tidal Investments LLC grew its stake in BlackRock by 55.1% in the 3rd quarter. Tidal Investments LLC now owns 28,958 shares of the asset manager’s stock worth $27,496,000 after acquiring an additional 10,284 shares during the period. Finally, Destination Wealth Management raised its holdings in BlackRock by 6.6% in the 3rd quarter. Destination Wealth Management now owns 1,140 shares of the asset manager’s stock valued at $1,082,000 after acquiring an additional 71 shares during the last quarter. Institutional investors and hedge funds 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.