BlackRock Inc. (BLK) Receives $382.70 Average Price Target from Analysts
BlackRock Inc. (NYSE:BLK) has been assigned a consensus rating of “Buy” from the seventeen research firms that are presently covering the company. Seven analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $382.70.
Several research firms recently weighed in on BLK. Deutsche Bank AG upped their price target on BlackRock from $412.00 to $418.00 and gave the stock a “buy” rating in a research note on Wednesday, October 5th. Citigroup Inc. restated a “buy” rating and issued a $400.00 price target on shares of BlackRock in a research note on Monday, October 10th. Wells Fargo & Co. restated a “market perform” rating on shares of BlackRock in a research note on Monday, October 10th. Goldman Sachs Group Inc. downgraded BlackRock from a “conviction-buy” rating to a “buy” rating and upped their price target for the stock from $390.00 to $400.00 in a research note on Monday, August 8th. Finally, Zacks Investment Research upgraded BlackRock from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th.
In related news, Director Mark Mccombe sold 1,400 shares of the firm’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $374.92, for a total value of $524,888.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William S. Demchak bought 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The stock was bought at an average cost of $341.11 per share, for a total transaction of $409,332.00. Following the completion of the acquisition, the director now owns 1,200 shares in the company, valued at approximately $409,332. The disclosure for this purchase can be found here. 2.20% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. NEXT Financial Group Inc raised its stake in shares of BlackRock by 22.2% in the third quarter. NEXT Financial Group Inc now owns 275 shares of the company’s stock worth $100,000 after buying an additional 50 shares during the last quarter. Feltz Wealth PLAN Inc. acquired a new stake in shares of BlackRock during the second quarter worth about $126,000. Mycio Wealth Partners LLC raised its stake in shares of BlackRock by 3.3% in the second quarter. Mycio Wealth Partners LLC now owns 379 shares of the company’s stock worth $130,000 after buying an additional 12 shares during the last quarter. Ropes Wealth Advisors LLC raised its stake in shares of BlackRock by 0.3% in the second quarter. Ropes Wealth Advisors LLC now owns 388 shares of the company’s stock worth $133,000 after buying an additional 1 shares during the last quarter. Finally, Global X Management Co. LLC raised its stake in shares of BlackRock by 294.9% in the third quarter. Global X Management Co. LLC now owns 391 shares of the company’s stock worth $142,000 after buying an additional 292 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.
Shares of BlackRock (NYSE:BLK) opened at 371.37 on Tuesday. The stock has a market capitalization of $60.85 billion, a P/E ratio of 19.51 and a beta of 1.65. BlackRock has a 52-week low of $280.55 and a 52-week high of $380.30. The firm has a 50-day moving average price of $353.95 and a 200-day moving average price of $357.57.
BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 18th. The company reported $5.14 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.16. BlackRock had a return on equity of 11.04% and a net margin of 28.59%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business earned $5.00 EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts predict that BlackRock will post $19.26 EPS for the current year.
BlackRock Company Profile
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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