BlackRock (NYSE:BLK) PT Lowered to $1,008.00

BlackRock (NYSE:BLK) had its price target decreased by Deutsche Bank Aktiengesellschaft from $1,039.00 to $1,008.00 in a research note issued on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 16.15% from the company’s previous close.

A number of other equities analysts have also weighed in on BLK. Morgan Stanley lifted their price objective on BlackRock from $944.00 to $1,017.00 and gave the company an “overweight” rating in a research note on Friday, July 9th. BMO Capital Markets lifted their price objective on BlackRock from $773.00 to $803.00 and gave the company a “market perform” rating in a research note on Thursday, July 15th. Evercore ISI reiterated a “buy” rating and set a $956.00 price objective on shares of BlackRock in a research note on Friday, October 8th. Jefferies Financial Group lifted their price target on BlackRock from $1,001.00 to $1,075.00 and gave the company a “buy” rating in a research note on Tuesday, August 31st. Finally, UBS Group lifted their price target on BlackRock from $890.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, July 8th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $952.93.

Shares of BLK stock opened at $867.81 on Thursday. The firm has a market capitalization of $132.08 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The business has a fifty day moving average of $895.01 and a 200 day moving average of $866.24. BlackRock has a 1 year low of $587.90 and a 1 year high of $959.89.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, October 12th. The asset manager reported $10.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $9.81 by $1.14. The business had revenue of $5.05 billion during the quarter, compared to analyst estimates of $4.82 billion. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The company’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the business posted $9.22 EPS. As a group, equities research analysts expect that BlackRock will post 38.24 earnings per share for the current year.

In related news, General Counsel Christopher J. Meade sold 2,106 shares of BlackRock stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total value of $1,847,467.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.16% of the company’s stock.

A number of hedge funds have recently bought and sold shares of BLK. Silverleafe Capital Partners LLC boosted its holdings in shares of BlackRock by 4.7% during the 3rd quarter. Silverleafe Capital Partners LLC now owns 7,699 shares of the asset manager’s stock worth $6,457,000 after purchasing an additional 346 shares during the last quarter. Burns J W & Co. Inc. NY boosted its holdings in shares of BlackRock by 2.6% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 969 shares of the asset manager’s stock worth $813,000 after purchasing an additional 25 shares during the last quarter. Teamwork Financial Advisors LLC boosted its holdings in shares of BlackRock by 9.3% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 1,656 shares of the asset manager’s stock worth $1,388,000 after purchasing an additional 141 shares during the last quarter. CHICAGO TRUST Co NA boosted its holdings in shares of BlackRock by 18.0% during the 3rd quarter. CHICAGO TRUST Co NA now owns 812 shares of the asset manager’s stock worth $681,000 after purchasing an additional 124 shares during the last quarter. Finally, Five Oceans Advisors acquired a new position in shares of BlackRock during the 3rd quarter worth approximately $300,000. Institutional investors own 78.13% of the company’s stock.

BlackRock Company Profile

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

Featured Story: Do You Need a Fiduciary?

The Fly logo

Analyst Recommendations for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.