UBS Group Raises BlackRock (NYSE:BLK) Price Target to $850.00

BlackRock (NYSE:BLK) had its price objective lifted by UBS Group from $818.00 to $850.00 in a research report sent to investors on Friday morning, Benzinga reports. UBS Group currently has a neutral rating on the asset manager’s stock.

A number of other research firms have also recently weighed in on BLK. TD Cowen raised BlackRock from a market perform rating to an outperform rating and lifted their price objective for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Keefe, Bruyette & Woods reissued an outperform rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. boosted their price target on BlackRock from $742.00 to $767.00 and gave the stock a neutral rating in a report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $811.43.

BlackRock Stock Down 0.1 %

BLK stock opened at $762.99 on Friday. BlackRock has a twelve month low of $596.18 and a twelve month high of $845.00. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock has a market cap of $113.64 billion, a P/E ratio of 19.39, a PEG ratio of 1.65 and a beta of 1.37. The business’s 50-day moving average price is $808.48 and its 200-day moving average price is $754.48.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the firm earned $7.93 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities research analysts forecast that BlackRock will post 41.35 EPS for the current year.

Insiders Place Their Bets

In other news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the transaction, the director now owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the transaction, the director now owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Insiders have sold a total of 100,511 shares of company stock valued at $71,864,028 in the last quarter. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BlackRock

Several hedge funds have recently bought and sold shares of the business. Fairfield Bush & CO. purchased a new stake in shares of BlackRock in the 1st quarter worth $115,000. United Bank lifted its stake in shares of BlackRock by 17.1% during the 1st quarter. United Bank now owns 1,287 shares of the asset manager’s stock worth $983,000 after purchasing an additional 188 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in shares of BlackRock by 2.6% during the 1st quarter. Panagora Asset Management Inc. now owns 1,978 shares of the asset manager’s stock worth $1,512,000 after purchasing an additional 51 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of BlackRock by 35.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,025 shares of the asset manager’s stock worth $783,000 after purchasing an additional 268 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of BlackRock by 11.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,452 shares of the asset manager’s stock worth $1,110,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

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.