BlackRock, Inc. (BLK) Stock Rating Reaffirmed by Morgan Stanley
BlackRock, Inc. (NYSE:BLK)‘s stock had its “overweight” rating reaffirmed by analysts at Morgan Stanley in a report released on Thursday. They currently have a $501.00 price objective on the asset manager’s stock, up from their prior price objective of $476.00. Morgan Stanley’s price objective suggests a potential upside of 7.87% from the stock’s current price.
A number of other research firms have also commented on BLK. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $440.00 price target on shares of BlackRock in a research report on Friday, July 14th. Goldman Sachs Group, Inc. (The) raised shares of BlackRock from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $440.00 to $500.00 in a research report on Thursday, September 28th. Bank of America Corporation reaffirmed a “buy” rating and set a $450.00 target price on shares of BlackRock in a research report on Monday, June 19th. Barclays PLC initiated coverage on shares of BlackRock in a research report on Friday, September 8th. They set an “overweight” rating and a $475.00 target price on the stock. Finally, Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price on the stock in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. BlackRock currently has an average rating of “Buy” and an average target price of $460.08.
Shares of BlackRock (NYSE:BLK) traded down 0.72% on Thursday, hitting $461.07. 110,154 shares of the stock traded hands. BlackRock has a 12-month low of $336.84 and a 12-month high of $465.87. The stock has a 50-day moving average price of $428.27 and a 200 day moving average price of $411.59. The stock has a market cap of $74.79 billion, a price-to-earnings ratio of 22.13 and a beta of 1.72.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Zacks’ consensus estimate of $5.39 by ($0.15). BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the business earned $4.78 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts anticipate that BlackRock will post $21.95 earnings per share for the current fiscal year.
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In other news, insider Jeff A. Smith sold 250 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total value of $108,717.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. Insiders have sold 4,447 shares of company stock worth $1,855,015 in the last quarter. Corporate insiders own 1.86% of the company’s stock.
Several large investors have recently modified their holdings of BLK. BlackRock Inc. boosted its stake in shares of BlackRock by 2,775.4% in the 1st quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock valued at $2,508,733,000 after purchasing an additional 6,314,004 shares in the last quarter. Third Point LLC acquired a new stake in shares of BlackRock in the 2nd quarter valued at $654,736,000. Harbour Capital Advisors LLC boosted its stake in shares of BlackRock by 38,807.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock valued at $2,848,000 after purchasing an additional 1,199,932 shares in the last quarter. Capital World Investors boosted its stake in shares of BlackRock by 12.9% in the 2nd quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after purchasing an additional 810,667 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of BlackRock by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after purchasing an additional 656,569 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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