Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for BlackRock (NYSE:BLK) Stock Price

BlackRock (NYSE:BLK) had its target price dropped by Deutsche Bank Aktiengesellschaft from $1,305.00 to $1,298.00 in a research note issued on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 22.05% from the stock’s current price.

Other analysts have also issued reports about the company. Argus boosted their price target on BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods cut their target price on BlackRock from $1,390.00 to $1,322.00 and set an “outperform” rating on the stock in a research note on Tuesday. BNP Paribas Exane raised their price target on shares of BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Evercore ISI boosted their price objective on shares of BlackRock from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, Jefferies Financial Group increased their target price on shares of BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,316.18.

BlackRock Trading Down 0.1%

Shares of BlackRock stock opened at $1,063.54 on Wednesday. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94. The company has a 50-day simple moving average of $1,084.19 and a 200 day simple moving average of $1,090.16. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $165.01 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 1.66 and a beta of 1.47.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a return on equity of 14.80% and a net margin of 26.64%.The firm’s revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the company earned $11.46 EPS. Research analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

Insider Transactions at BlackRock

In related news, CFO Martin Small sold 1,258 shares of BlackRock stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $1,043.38, for a total transaction of $1,312,572.04. Following the completion of the transaction, the chief financial officer owned 6,209 shares in the company, valued at approximately $6,478,346.42. This trade represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares in the company, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BLK. Westerkirk Capital Inc. bought a new stake in shares of BlackRock during the 2nd quarter valued at $2,877,000. Police & Firemen s Retirement System of New Jersey increased its position in shares of BlackRock by 7.9% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,167 shares of the asset manager’s stock worth $24,308,000 after purchasing an additional 1,693 shares during the period. California Public Employees Retirement System raised its stake in BlackRock by 8.2% in the second quarter. California Public Employees Retirement System now owns 256,937 shares of the asset manager’s stock valued at $269,591,000 after purchasing an additional 19,404 shares in the last quarter. Opus Investment Management Inc. bought a new stake in BlackRock during the first quarter worth about $1,420,000. Finally, Ally Financial Inc. acquired a new stake in BlackRock during the first quarter worth about $1,893,000. 80.69% of the stock is owned by institutional investors.

About BlackRock

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.