The Goldman Sachs Group Increases BlackRock (NYSE:BLK) Price Target to $1,040.00

BlackRock (NYSE:BLK) had its target price boosted by equities researchers at The Goldman Sachs Group from $960.00 to $1,040.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 9.57% from the stock’s previous close.

A number of other research firms have also issued reports on BLK. Barclays lifted their target price on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft lifted their target price on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Morgan Stanley lowered their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. TD Cowen lowered their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, UBS Group lowered their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $932.71.

BlackRock Trading Down 0.2 %

NYSE:BLK opened at $949.19 on Thursday. BlackRock has a 1 year low of $596.18 and a 1 year high of $960.74. The stock has a market cap of $141.05 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 2.05 and a beta of 1.30. The business has a fifty day moving average of $890.01 and a 200-day moving average of $826.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the prior year, the business posted $9.28 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts predict that BlackRock will post 41.37 earnings per share for the current year.

Insiders Place Their Bets

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. XML Financial LLC increased its position in BlackRock by 2.6% in the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after buying an additional 12 shares during the period. Hexagon Capital Partners LLC increased its position in BlackRock by 6.1% in the 2nd quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock worth $177,000 after buying an additional 13 shares during the period. Forza Wealth Management LLC increased its position in BlackRock by 1.3% in the 2nd quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after buying an additional 13 shares during the period. Rosenberg Matthew Hamilton increased its position in BlackRock by 4.4% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock worth $243,000 after buying an additional 13 shares during the period. Finally, Tortoise Investment Management LLC increased its position in BlackRock by 17.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock worth $70,000 after buying an additional 13 shares during the period. 80.69% of the stock is owned by institutional investors.

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.