Barclays Lowers BlackRock (NYSE:BLK) Price Target to $1,160.00

BlackRock (NYSE:BLK) had its price objective lowered by stock analysts at Barclays from $1,220.00 to $1,160.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the asset manager’s stock. Barclays‘s target price suggests a potential upside of 22.11% from the company’s previous close.

Several other brokerages also recently issued reports on BLK. The Goldman Sachs Group boosted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. TD Cowen boosted their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company reduced their price target on BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley increased their target price on shares of BlackRock from $1,245.00 to $1,261.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,065.08.

BlackRock Stock Down 0.6 %

BLK opened at $950.00 on Monday. The business has a 50 day moving average price of $1,030.97 and a two-hundred day moving average price of $941.35. The company has a market cap of $147.14 billion, a PE ratio of 23.45, a P/E/G ratio of 1.92 and a beta of 1.28. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock has a 52 week low of $745.55 and a 52 week high of $1,082.45.

BlackRock (NYSE:BLK) last posted its earnings results 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. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.91 EPS. As a group, research analysts anticipate that BlackRock will post 43.18 EPS for the current year.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $6,777,432. This represents a 84.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackRock

Several hedge funds have recently made changes to their positions in the stock. FSA Wealth Management LLC purchased a new stake in shares of BlackRock in the 3rd quarter worth approximately $26,000. Fairscale Capital LLC purchased a new position in shares of BlackRock during the 2nd quarter valued at about $31,000. Reston Wealth Management LLC purchased a new stake in shares of BlackRock in the third quarter worth $37,000. MFA Wealth Advisors LLC raised its holdings in BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the period. Finally, Modus Advisors LLC purchased a new position in shares of BlackRock in the fourth quarter valued at about $48,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Company Profile

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.