BlackRock, Inc. (BLK) Stock Rating Reaffirmed by Jefferies Group LLC
BlackRock, Inc. (NYSE:BLK)‘s stock had its “hold” rating reissued by stock analysts at Jefferies Group LLC in a note issued to investors on Tuesday. They currently have a $440.00 price objective on the asset manager’s stock. Jefferies Group LLC’s price target points to a potential upside of 1.29% from the stock’s current price.
BLK has been the subject of a number of other research reports. Morgan Stanley reiterated an “overweight” rating and issued a $460.00 target price (up previously from $422.00) on shares of BlackRock in a research report on Monday, July 10th. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Deutsche Bank AG restated a “buy” rating and set a $455.00 price target (down previously from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $425.00 price target (up previously from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. BlackRock currently has an average rating of “Buy” and an average target price of $449.08.
Shares of BlackRock (NYSE BLK) opened at 438.40 on Tuesday. The stock’s 50 day moving average is $422.45 and its 200 day moving average is $406.87. BlackRock has a 52 week low of $336.84 and a 52 week high of $442.84. The stock has a market capitalization of $71.11 billion, a PE ratio of 21.04 and a beta of 1.71.
BlackRock (NYSE:BLK) last released its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.39 by ($0.15). BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the previous year, the company earned $4.78 EPS. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. Analysts anticipate that BlackRock will post $21.83 EPS for the current fiscal year.
In related news, insider Robert W. Fairbairn sold 3,675 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The disclosure for this sale can be found here. Insiders sold a total of 4,447 shares of company stock worth $1,855,015 over the last quarter. 1.86% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of BLK. BlackRock Inc. grew its position in BlackRock by 2,775.4% in the 1st quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after purchasing an additional 6,314,004 shares during the last quarter. Third Point LLC acquired a new stake in BlackRock in the 2nd quarter worth $654,736,000. Harbour Capital Advisors LLC grew its position in BlackRock by 38,807.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock worth $2,848,000 after purchasing an additional 1,199,932 shares during the last quarter. Capital World Investors grew its position in BlackRock by 12.9% in the 2nd quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after purchasing an additional 810,667 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in BlackRock by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after purchasing an additional 656,569 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
Receive News & Stock Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related stocks with our FREE daily email newsletter.