Citigroup Increases BlackRock (NYSE:BLK) Price Target to $1,035.00

BlackRock (NYSE:BLK) had its price objective increased by stock analysts at Citigroup from $1,030.00 to $1,035.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Citigroup’s target price would indicate a potential upside of 19.27% from the company’s current price.

BLK has been the subject of several other reports. Morgan Stanley raised their target price on shares of BlackRock from $944.00 to $1,017.00 and gave the company an “overweight” rating in a research note on Friday, July 9th. Credit Suisse Group reduced their price objective on shares of BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating for the company in a research report on Thursday, July 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of BlackRock from $1,018.00 to $1,001.00 and set a “buy” rating for the company in a research report on Thursday, July 15th. Evercore ISI reaffirmed a “buy” rating and set a $956.00 price objective on shares of BlackRock in a research report on Friday, October 8th. Finally, Argus lifted their price objective on shares of BlackRock from $950.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, July 15th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $952.93.

NYSE:BLK opened at $867.81 on Thursday. BlackRock has a 1-year low of $587.90 and a 1-year high of $959.89. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $895.01 and a 200 day simple moving average of $866.24. The stock has a market capitalization of $132.08 billion, a PE ratio of 24.39, a P/E/G ratio of 2.40 and a beta of 1.15.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, October 12th. The asset manager reported $10.95 earnings per share for the quarter, beating the consensus estimate of $9.81 by $1.14. BlackRock had a net margin of 30.39% and a return on equity of 16.30%. The business had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the business earned $9.22 earnings per share. The firm’s revenue was up 15.6% on a year-over-year basis. On average, equities analysts predict that BlackRock will post 38.24 earnings per share for the current fiscal year.

In other news, General Counsel Christopher J. Meade sold 2,106 shares of the business’s stock in a transaction dated Tuesday, July 20th. The shares were sold at an average price of $877.24, for a total value of $1,847,467.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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. E Fund Management Co. Ltd. acquired a new position in BlackRock in the first quarter valued at about $188,000. Quilter Plc raised its stake in BlackRock by 304.7% during the first quarter. Quilter Plc now owns 3,128 shares of the asset manager’s stock worth $2,358,000 after acquiring an additional 2,355 shares in the last quarter. M Holdings Securities Inc. acquired a new position in BlackRock during the first quarter worth about $780,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new position in BlackRock during the first quarter worth about $1,282,000. Finally, William Blair Investment Management LLC raised its stake in BlackRock by 1.2% during the first quarter. William Blair Investment Management LLC now owns 74,888 shares of the asset manager’s stock worth $56,463,000 after acquiring an additional 911 shares in the last quarter. 78.13% of the stock is owned by institutional investors and hedge funds.

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.

See Also: What is a stock portfolio tracker?

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.