BlackRock (NYSE:BLK) Price Target Raised to $850.00 at UBS Group

BlackRock (NYSE:BLK) had its target price upped by research analysts at UBS Group from $818.00 to $850.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. UBS Group’s target price suggests a potential upside of 11.34% from the stock’s previous close.

A number of other brokerages also recently issued reports on BLK. JPMorgan Chase & Co. increased their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $802.29.

BlackRock Price Performance

NYSE BLK opened at $763.40 on Friday. The company has a market cap of $113.70 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.69 and a beta of 1.37. BlackRock has a 52 week low of $596.18 and a 52 week high of $845.00. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The firm’s 50-day simple moving average is $808.88 and its two-hundred day simple moving average is $752.88.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a net margin of 30.81% and a return on equity of 14.74%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.93 earnings per share. Research analysts predict that BlackRock will post 41.32 earnings per share for the current year.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares in the company, valued at approximately $13,910,292.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other BlackRock news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares in the company, valued at approximately $13,910,292.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Christopher J. Meade sold 18,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the sale, the general counsel now owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,511 shares of company stock worth $71,864,028. 0.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Abacus Planning Group Inc. lifted its position in shares of BlackRock by 4.0% during the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after buying an additional 13 shares in the last quarter. Knuff & Co LLC lifted its position in shares of BlackRock by 48.1% during the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after buying an additional 13 shares in the last quarter. Everhart Financial Group Inc. lifted its position in shares of BlackRock by 3.2% during the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after buying an additional 14 shares in the last quarter. Spreng Capital Management Inc. lifted its position in shares of BlackRock by 1.1% during the 4th quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after buying an additional 14 shares in the last quarter. Finally, Magellan Asset Management Ltd lifted its position in shares of BlackRock by 3.6% during the 4th quarter. Magellan Asset Management Ltd now owns 404 shares of the asset manager’s stock valued at $328,000 after buying an additional 14 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other 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.