BlackRock (NYSE:BLK) Price Target Lowered to $1,160.00 at Barclays

BlackRock (NYSE:BLK) had its price objective lowered by investment analysts at Barclays from $1,220.00 to $1,160.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Barclays‘s target price indicates a potential upside of 22.11% from the stock’s current price.

A number of other equities analysts have also weighed in on BLK. TD Cowen lifted their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. StockNews.com began coverage on BlackRock in a research note on Wednesday, January 8th. They issued a “hold” rating for the company. JPMorgan Chase & Co. lifted their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group lifted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,065.08.

BlackRock Trading Down 0.6 %

Shares of NYSE BLK opened at $950.00 on Monday. The business’s 50 day moving average price is $1,030.97 and its 200-day moving average price is $941.35. BlackRock has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. 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 company has a market cap of $147.14 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.92 and a beta of 1.28.

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

Insider Buying and Selling

In related news, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This represents a 56.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $37,851,121.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BLK. FSA Wealth Management LLC purchased a new stake in BlackRock during the 3rd quarter worth $26,000. Fairscale Capital LLC bought a new position in shares of BlackRock during the second quarter worth about $31,000. Reston Wealth Management LLC acquired a new position in BlackRock in the third quarter worth about $37,000. MFA Wealth Advisors LLC increased its holdings in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the last quarter. Finally, Addison Advisors LLC lifted its holdings in BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after buying an additional 22 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

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.