BlackRock (NYSE:BLK)‘s stock had its “buy” rating restated by equities research analysts at Morgan Stanley in a research note issued to investors on Wednesday, TipRanks reports. They currently have a $582.00 price objective on the asset manager’s stock. Morgan Stanley’s price objective points to a potential upside of 28.79% from the stock’s current price.
Other analysts also recently issued research reports about the company. Deutsche Bank decreased their target price on BlackRock from $516.00 to $463.00 and set a “hold” rating for the company in a research note on Wednesday, March 18th. Argus restated a “buy” rating and set a $570.00 target price (up previously from $535.00) on shares of BlackRock in a research note on Wednesday, January 15th. JPMorgan Chase & Co. decreased their target price on BlackRock from to in a research note on Monday, March 16th. Wells Fargo & Co decreased their target price on BlackRock from $590.00 to $490.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. Finally, Citigroup decreased their target price on BlackRock from $600.00 to $510.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. BlackRock has an average rating of “Buy” and an average price target of $505.08.
Shares of NYSE BLK opened at $451.90 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.48 and a current ratio of 2.48. The firm has a market cap of $57.55 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 1.10 and a beta of 1.51. The business’s 50-day simple moving average is $479.78 and its 200-day simple moving average is $480.64. BlackRock has a 52 week low of $323.98 and a 52 week high of $576.81.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, January 15th. The asset manager reported $8.34 EPS for the quarter, beating the Zacks’ consensus estimate of $7.69 by $0.65. BlackRock had a return on equity of 13.86% and a net margin of 30.79%. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same quarter in the prior year, the firm posted $6.08 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities research analysts forecast that BlackRock will post 28.83 earnings per share for the current year.
In other BlackRock news, insider Marc D. Comerchero sold 600 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $553.01, for a total value of $331,806.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gary Shedlin sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $571.49, for a total value of $2,285,960.00. The disclosure for this sale can be found here. Insiders sold a total of 110,381 shares of company stock valued at $60,691,912 in the last quarter. Corporate insiders own 1.42% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in shares of BlackRock during the 4th quarter worth approximately $1,218,129,000. Capital International Investors lifted its position in shares of BlackRock by 75.6% during the 4th quarter. Capital International Investors now owns 1,798,139 shares of the asset manager’s stock worth $903,924,000 after buying an additional 774,309 shares during the period. Nuveen Asset Management LLC lifted its position in shares of BlackRock by 23.7% during the 4th quarter. Nuveen Asset Management LLC now owns 721,738 shares of the asset manager’s stock worth $362,818,000 after buying an additional 138,084 shares during the period. FMR LLC lifted its position in shares of BlackRock by 11.3% during the 4th quarter. FMR LLC now owns 1,287,278 shares of the asset manager’s stock worth $647,115,000 after buying an additional 130,314 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in shares of BlackRock by 585.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 104,224 shares of the asset manager’s stock worth $8,430,000 after buying an additional 89,027 shares during the period. Institutional investors own 83.16% 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.
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