Evercore ISI Increases BlackRock (NYSE:BLK) Price Target to $995.00

by · The Cerbat Gem

BlackRock (NYSE:BLK – Get Free Report) had its target price increased by investment analysts at Evercore ISI from $945.00 to $995.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. Evercore ISI’s target price would indicate a potential upside of 4.83% from the stock’s previous close.

Several other research analysts have also recently weighed in on BLK. Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Morgan Stanley lowered their price objective on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Wells Fargo & Company began coverage on BlackRock in a research note on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Finally, Barclays raised their price objective on shares of BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $932.71.

Get Our Latest Research Report on BLK

BlackRock Stock Down 0.2 %

NYSE BLK opened at $949.19 on Friday. The business has a fifty day moving average price of $890.01 and a 200 day moving average price of $826.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a market cap of $141.05 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.05 and a beta of 1.30. BlackRock has a one year low of $596.18 and a one year high of $960.74.

BlackRock (NYSE:BLK – Get Free Report) last issued its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $9.28 earnings per share. Research analysts anticipate that BlackRock will post 41.37 EPS for the current fiscal year.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock valued at $79,387,117 in the last three months. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BlackRock

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after buying an additional 292,017 shares during the period. Capital Research Global Investors lifted its stake in BlackRock by 11.1% in the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after acquiring an additional 435,358 shares during the last quarter. Fisher Asset Management LLC grew its holdings in BlackRock by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,015,337 shares of the asset manager’s stock worth $1,636,052,000 after acquiring an additional 47,128 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of BlackRock by 2.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after purchasing an additional 46,728 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of BlackRock by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after purchasing an additional 22,311 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Company Profile

(Get Free Report)

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.

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