BlackRock (NYSE:BLK) Price Target Cut to $794.00

BlackRock (NYSE:BLK) had its target price lowered by equities researchers at BMO Capital Markets from $797.00 to $794.00 in a research report issued on Thursday, The Fly reports. The brokerage presently has a “market perform” rating on the asset manager’s stock. BMO Capital Markets’ price objective indicates a potential downside of 8.51% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reduced their price objective on BlackRock from $1,039.00 to $1,008.00 and set a “buy” rating for the company in a report on Thursday. UBS Group boosted their price target on BlackRock from $890.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, July 8th. Jefferies Financial Group boosted their price target on BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Citigroup boosted their price target on BlackRock from $1,030.00 to $1,035.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Credit Suisse Group cut their price target on BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating for the company in a report on Thursday, July 15th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, BlackRock currently has a consensus rating of “Buy” and an average price target of $952.29.

BLK opened at $867.81 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50 day simple moving average of $895.01 and a 200-day simple moving average of $866.24. The stock has a market capitalization of $132.08 billion, a P/E ratio of 24.39, a P/E/G ratio of 2.40 and a beta of 1.15. BlackRock has a 12 month low of $587.90 and a 12 month high of $959.89.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, October 12th. The asset manager reported $10.95 EPS for the quarter, beating the consensus estimate of $9.81 by $1.14. The business had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $4.82 billion. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the firm earned $9.22 EPS. Research analysts anticipate that BlackRock will post 38.24 EPS for the current year.

In other BlackRock news, General Counsel Christopher J. Meade sold 2,106 shares of the business’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total transaction of $1,847,467.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.16% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. E Fund Management Co. Ltd. acquired a new position in shares of BlackRock in the first quarter worth about $188,000. Quilter Plc lifted its stake in shares of BlackRock by 304.7% in the first quarter. Quilter Plc now owns 3,128 shares of the asset manager’s stock worth $2,358,000 after acquiring an additional 2,355 shares in the last quarter. M Holdings Securities Inc. acquired a new position in shares of BlackRock in the first quarter worth about $780,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in BlackRock during the first quarter valued at approximately $1,282,000. Finally, William Blair Investment Management LLC raised its stake in BlackRock by 1.2% during the first quarter. William Blair Investment Management LLC now owns 74,888 shares of the asset manager’s stock valued at $56,463,000 after buying an additional 911 shares in the last quarter. Institutional investors own 78.13% of the company’s stock.

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 Ralph L.

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