BlackRock, Inc. (NYSE:BLK) Receives $995.31 Average Price Target from Brokerages

Shares of BlackRock, Inc. (NYSE:BLK) have earned an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $995.31.

A number of brokerages have recently weighed in on BLK. Barclays increased their target price on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Morgan Stanley upped their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group increased their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods upped their price target on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Finally, UBS Group dropped their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th.

BlackRock Stock Performance

NYSE:BLK opened at $1,029.82 on Thursday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $152.55 billion, a P/E ratio of 25.42, a P/E/G ratio of 1.77 and a beta of 1.30. The company has a fifty day moving average of $947.54 and a 200-day moving average of $857.04. BlackRock has a twelve month low of $646.91 and a twelve month high of $1,057.51.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the firm earned $10.91 EPS. The business’s revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts anticipate that BlackRock will post 42.94 EPS for the current year.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 35,061 shares of company stock worth $30,734,840. 0.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On BlackRock

Institutional investors have recently made changes to their positions in the stock. Fairscale Capital LLC bought a new position in BlackRock in the 2nd quarter worth about $31,000. Reston Wealth Management LLC purchased a new position in BlackRock during the third quarter valued at approximately $37,000. Chilton Capital Management LLC bought a new stake in BlackRock during the 1st quarter worth approximately $38,000. MFA Wealth Advisors LLC lifted its stake in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares in the last quarter. Finally, Addison Advisors LLC increased its holdings in shares of BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.