BlackRock (NYSE:BLK)‘s stock had its “overweight” rating reissued by analysts at JPMorgan Chase & Co. in a report released on Wednesday. They currently have a $640.00 price target on the asset manager’s stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 14.73% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut BlackRock from a “buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank reduced their price target on BlackRock to $623.00 and set a “buy” rating on the stock in a research note on Tuesday, March 6th. Citigroup cut BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price target on the stock. in a research note on Thursday, January 25th. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $555.00 price target (up from $535.00) on shares of BlackRock in a research note on Tuesday, January 16th. Finally, Argus reaffirmed a “buy” rating and issued a $620.00 price target (up from $520.00) on shares of BlackRock in a research note on Tuesday, January 16th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $567.15.
Shares of BlackRock (NYSE:BLK) traded down $1.11 during mid-day trading on Wednesday, reaching $557.85. The company had a trading volume of 15,589 shares, compared to its average volume of 650,299. The stock has a market capitalization of $89,840.00, a PE ratio of 24.22, a price-to-earnings-growth ratio of 1.51 and a beta of 1.71. BlackRock has a 12 month low of $368.00 and a 12 month high of $594.52. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.94 and a current ratio of 2.94.
In other news, insider Mark Mccombe sold 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $520.64, for a total transaction of $1,041,280.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Robert L. Goldstein sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $558.00, for a total value of $2,790,000.00. The disclosure for this sale can be found here. Insiders sold 20,961 shares of company stock worth $11,375,444 over the last three months. Corporate insiders own 1.86% of the company’s stock.
Several large investors have recently made changes to their positions in BLK. BlackRock Inc. lifted its holdings in shares of BlackRock by 4.4% during the fourth quarter. BlackRock Inc. now owns 7,255,797 shares of the asset manager’s stock valued at $3,727,377,000 after purchasing an additional 307,213 shares in the last quarter. Fred Alger Management Inc. lifted its holdings in shares of BlackRock by 2,347.6% during the fourth quarter. Fred Alger Management Inc. now owns 185,965 shares of the asset manager’s stock valued at $95,532,000 after purchasing an additional 178,367 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of BlackRock by 2,450.2% during the third quarter. Stifel Financial Corp now owns 181,678 shares of the asset manager’s stock valued at $81,105,000 after purchasing an additional 174,554 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of BlackRock by 31.6% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 442,328 shares of the asset manager’s stock valued at $227,228,000 after purchasing an additional 106,315 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of BlackRock during the fourth quarter valued at $53,310,000. 84.65% of the stock is currently owned by hedge funds and other institutional investors.
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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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