BlackRock (NYSE:BLK) Price Target Increased to $1,120.00 by Analysts at Barclays

BlackRock (NYSE:BLK) had its target price raised by research analysts at Barclays from $1,010.00 to $1,120.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the asset manager’s stock. Barclays‘s price objective points to a potential upside of 12.55% from the stock’s previous close.

A number of other research firms have also weighed in on BLK. Keefe, Bruyette & Woods lifted their price objective on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. StockNews.com assumed coverage on BlackRock in a research note on Saturday. They issued a “hold” rating for the company. Morgan Stanley lifted their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup lifted their price target on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Evercore ISI lifted their price target on BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $991.46.

BlackRock Stock Performance

BLK stock traded up $4.83 during midday trading on Monday, reaching $995.09. The stock had a trading volume of 123,948 shares, compared to its average volume of 574,203. The stock has a market cap of $147.87 billion, a PE ratio of 25.39, a P/E/G 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 has a fifty day simple moving average of $899.39 and a two-hundred day simple moving average of $831.33. BlackRock has a 52-week low of $596.18 and a 52-week high of $1,001.45.

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

Insider Activity

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. 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 available through this link. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. 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 available through this link. Also, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,407,041.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of BlackRock

Large investors have recently modified their holdings of the stock. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock during the first quarter worth $27,000. Fairscale Capital LLC acquired a new position in shares of BlackRock during the second quarter worth $31,000. Lam Group Inc. acquired a new position in shares of BlackRock during the first quarter worth $33,000. Fairman Group LLC acquired a new position in BlackRock in the fourth quarter valued at $35,000. Finally, Chilton Capital Management LLC acquired a new position in BlackRock in the first quarter valued at $38,000. Hedge funds and other institutional investors 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.