BlackRock (NYSE:BLK) had its price target lowered by equities research analysts at Credit Suisse Group from $573.00 to $529.00 in a research report issued to clients and investors on Monday, The Fly reports. The firm presently has an “outperform” rating on the asset manager’s stock. Credit Suisse Group’s target price suggests a potential upside of 33.75% from the stock’s current price.
Several other brokerages also recently weighed in on BLK. Morgan Stanley lowered their target price on shares of BlackRock from $554.00 to $514.00 and set an “overweight” rating on the stock in a report on Wednesday, November 14th. Citigroup lowered their target price on shares of BlackRock to $500.00 and set a “buy” rating on the stock in a report on Wednesday, October 17th. Zacks Investment Research reaffirmed a “sell” rating on shares of BlackRock in a report on Monday, December 31st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $472.00 target price on shares of BlackRock in a report on Wednesday, January 9th. Finally, Deutsche Bank downgraded shares of BlackRock from a “buy” rating to a “hold” rating and lowered their target price for the company from $444.00 to $405.00 in a report on Thursday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $501.31.
Shares of NYSE:BLK traded down $0.90 during midday trading on Monday, hitting $395.53. The stock had a trading volume of 130,313 shares, compared to its average volume of 732,189. The company has a market cap of $62.76 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.39 and a beta of 1.43. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.76. BlackRock has a 1 year low of $360.79 and a 1 year high of $594.52.
BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.93 by $0.59. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.65 billion. BlackRock had a net margin of 39.92% and a return on equity of 13.72%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.76 earnings per share. On average, research analysts forecast that BlackRock will post 27.42 EPS for the current year.
In related news, Director William E. Ford acquired 2,000 shares of BlackRock stock in a transaction that occurred on Monday, October 22nd. The stock was purchased at an average price of $395.21 per share, for a total transaction of $790,420.00. Following the completion of the purchase, the director now directly owns 9,466 shares of the company’s stock, valued at $3,741,057.86. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director J. Richard Kushel sold 2,100 shares of the firm’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $419.11, for a total transaction of $880,131.00. The disclosure for this sale can be found here. 1.75% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in BLK. Highwater Wealth Management LLC acquired a new position in BlackRock during the fourth quarter worth about $41,000. Moody National Bank Trust Division raised its position in BlackRock by 73.9% during the fourth quarter. Moody National Bank Trust Division now owns 200 shares of the asset manager’s stock worth $78,000 after acquiring an additional 85 shares during the last quarter. Truvestments Capital LLC acquired a new position in BlackRock during the third quarter worth about $116,000. Canton Hathaway LLC acquired a new position in BlackRock during the third quarter worth about $146,000. Finally, Legacy Advisors LLC raised its position in BlackRock by 79.8% during the third quarter. Legacy Advisors LLC now owns 338 shares of the asset manager’s stock worth $159,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 82.42% of the company’s stock.
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.
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