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

BlackRock (NYSE:BLK) had its price target raised by Evercore ISI from $1,040.00 to $1,160.00 in a report published on Thursday,Benzinga reports. Evercore ISI currently has an outperform rating on the asset manager’s stock.

Several other research firms have also issued reports on BLK. Wells Fargo & Company increased their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. TD Cowen increased their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley increased their target price on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Argus upped their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,004.54.

BlackRock Trading Up 1.4 %

Shares of BLK opened at $1,053.80 on Thursday. BlackRock has a twelve month low of $658.14 and a twelve month high of $1,057.51. The firm has a market capitalization of $156.10 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 1.85 and a beta of 1.30. 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 stock’s fifty day simple moving average is $953.10 and its 200 day simple moving average is $861.57.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.52% and a net margin of 31.37%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the business posted $10.91 EPS. On average, equities research analysts forecast that BlackRock will post 42.94 earnings per share for the current year.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,832,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Marino Stram & Associates LLC lifted its stake in BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after purchasing an additional 10 shares during the last quarter. Onyx Bridge Wealth Group LLC lifted its position 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 buying an additional 11 shares during the last quarter. Ballentine Partners LLC lifted its position 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 worth $3,251,000 after buying an additional 11 shares during the last quarter. Harbor Capital Advisors Inc. grew its position 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 valued at $2,829,000 after buying an additional 11 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in BlackRock by 0.7% during the third quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock worth $1,447,000 after acquiring an additional 11 shares during the period. 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.