BlackRock (NYSE:BLK – Get Rating) had its target price lowered by equities research analysts at Evercore ISI from $760.00 to $740.00 in a research note issued to investors on Thursday, The Fly reports. Evercore ISI’s price target points to a potential upside of 11.12% from the stock’s previous close.
Several other research firms also recently weighed in on BLK. StockNews.com assumed coverage on shares of BlackRock in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Bank of America boosted their target price on shares of BlackRock from $813.00 to $868.00 in a research report on Wednesday, April 5th. Credit Suisse Group dropped their target price on shares of BlackRock from $675.00 to $662.00 in a research report on Thursday. Morgan Stanley boosted their target price on shares of BlackRock from $828.00 to $829.00 and gave the stock an “overweight” rating in a research report on Thursday, April 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of BlackRock from $800.00 to $779.00 and set an “overweight” rating on the stock in a report on Wednesday, March 29th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $745.25.
BlackRock Trading Down 0.6 %
NYSE BLK opened at $665.97 on Thursday. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.33. The firm has a market cap of $100.06 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 2.22 and a beta of 1.27. The company has a 50 day moving average price of $682.41 and a 200 day moving average price of $682.03. BlackRock has a 52 week low of $503.12 and a 52 week high of $785.65.
BlackRock (NYSE:BLK – Get Rating) last posted its quarterly earnings data on Friday, January 13th. The asset manager reported $8.93 EPS for the quarter, topping the consensus estimate of $7.99 by $0.94. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.16 billion. BlackRock had a net margin of 28.97% and a return on equity of 14.38%. As a group, sell-side analysts forecast that BlackRock will post 34.64 EPS for the current fiscal year.
Insider Activity at BlackRock
In related news, Director Stephen Cohen sold 390 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $756.26, for a total value of $294,941.40. Following the completion of the transaction, the director now directly owns 4,357 shares in the company, valued at approximately $3,295,024.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Stephen Cohen sold 390 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $756.26, for a total value of $294,941.40. Following the completion of the transaction, the director now directly owns 4,357 shares in the company, valued at approximately $3,295,024.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 1,000 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $742.31, for a total transaction of $742,310.00. Following the transaction, the director now owns 74,307 shares of the company’s stock, valued at $55,158,829.17. The disclosure for this sale can be found here. Insiders sold a total of 4,839 shares of company stock worth $3,578,947 in the last three months. Company insiders own 1.06% of the company’s stock.
Hedge Funds Weigh In On BlackRock
Large investors have recently added to or reduced their stakes in the stock. Horan Securities Inc. raised its position in BlackRock by 72.7% during the fourth quarter. Horan Securities Inc. now owns 38 shares of the asset manager’s stock worth $27,000 after acquiring an additional 16 shares during the period. Y.D. More Investments Ltd acquired a new stake in shares of BlackRock in the fourth quarter valued at about $28,000. HBC Financial Services PLLC raised its position in shares of BlackRock by 55.6% in the fourth quarter. HBC Financial Services PLLC now owns 42 shares of the asset manager’s stock valued at $30,000 after buying an additional 15 shares during the last quarter. Salem Investment Counselors Inc. raised its position in shares of BlackRock by 275.0% in the third quarter. Salem Investment Counselors Inc. now owns 45 shares of the asset manager’s stock valued at $25,000 after buying an additional 33 shares during the last quarter. Finally, Steward Financial Group LLC acquired a new stake in shares of BlackRock in the fourth quarter valued at about $31,000. 77.69% of the stock is currently 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 Susan L.