Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for BlackRock (NYSE:BLK) Stock Price

BlackRock (NYSE:BLK) had its target price reduced by equities research analysts at Deutsche Bank Aktiengesellschaft from $1,305.00 to $1,298.00 in a research note issued on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 19.95% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods cut their target price on BlackRock from $1,390.00 to $1,322.00 and set an “outperform” rating on the stock in a research note on Tuesday. Cowen restated a “buy” rating on shares of BlackRock in a report on Wednesday, October 15th. Loop Capital set a $1,255.00 target price on BlackRock in a research note on Tuesday, October 21st. UBS Group initiated coverage on BlackRock in a research report on Thursday, December 11th. They set a “neutral” rating and a $1,180.00 target price for the company. Finally, Argus upped their price target on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,316.18.

BlackRock Stock Performance

NYSE:BLK opened at $1,082.12 on Wednesday. The company has a market cap of $167.89 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.69 and a beta of 1.47. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94. The stock’s 50 day simple moving average is $1,088.21 and its two-hundred day simple moving average is $1,090.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.33 and a quick ratio of 3.33.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 14.80%. The firm’s revenue was up 25.2% on a year-over-year basis. During the same period in the previous year, the business posted $11.46 EPS. As a group, equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Martin Small sold 1,258 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $1,043.38, for a total transaction of $1,312,572.04. Following the transaction, the chief financial officer directly owned 6,209 shares of the company’s stock, valued at approximately $6,478,346.42. This represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rachel Lord sold 12,000 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the sale, the director owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On BlackRock

Hedge funds have recently modified their holdings of the stock. Welch Group LLC increased its holdings in shares of BlackRock by 1.2% during the 2nd quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock worth $797,000 after buying an additional 9 shares during the last quarter. Stanley Laman Group Ltd. boosted its holdings in BlackRock by 2.7% during the 2nd quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock valued at $357,000 after acquiring an additional 9 shares during the period. CNB Bank grew its holdings in shares of BlackRock by 9.6% in the second quarter. CNB Bank now owns 103 shares of the asset manager’s stock valued at $108,000 after purchasing an additional 9 shares in the last quarter. Magellan Asset Management Ltd grew its stake in shares of BlackRock by 14.3% in the second quarter. Magellan Asset Management Ltd now owns 72 shares of the asset manager’s stock worth $76,000 after acquiring an additional 9 shares in the last quarter. Finally, FAS Wealth Partners Inc. increased its holdings in BlackRock by 1.1% during the 2nd quarter. FAS Wealth Partners Inc. now owns 817 shares of the asset manager’s stock worth $857,000 after purchasing an additional 9 shares during the period. Institutional investors and hedge funds 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.