BlackRock (NYSE:BLK) Price Target Increased to $914.00 by Analysts at JPMorgan Chase & Co.

BlackRock (NYSE:BLK) had its target price lifted by JPMorgan Chase & Co. from $864.00 to $914.00 in a research report sent to investors on Monday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the asset manager’s stock.

A number of other equities analysts have also weighed in on BLK. Barclays lifted their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. The Goldman Sachs Group raised their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company increased their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, TD Cowen raised their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $995.31.

BlackRock Price Performance

BLK stock opened at $984.32 on Monday. The stock has a market capitalization of $146.27 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock has a 52-week low of $596.18 and a 52-week high of $1,032.00. The stock’s fifty day simple moving average is $924.23 and its 200-day simple moving average is $841.60.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the company earned $10.91 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. Equities research analysts expect that BlackRock will post 41.73 EPS for the current year.

Insider Transactions at BlackRock

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, Director Mark Wiedman sold 11,061 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,527,116. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,042 shares of company stock valued at $56,857,777. 0.90% of the stock is currently owned by insiders.

Institutional Trading of BlackRock

Several institutional investors and hedge funds have recently bought and sold shares of BLK. Old Port Advisors raised its position in shares of BlackRock by 5.9% during the 3rd quarter. Old Port Advisors now owns 428 shares of the asset manager’s stock valued at $406,000 after acquiring an additional 24 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of BlackRock by 0.6% during the third quarter. Nisa Investment Advisors LLC now owns 41,711 shares of the asset manager’s stock worth $39,605,000 after purchasing an additional 265 shares during the period. Independent Investors Inc. bought a new position in shares of BlackRock in the 3rd quarter worth about $214,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of BlackRock by 2.5% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,179 shares of the asset manager’s stock valued at $1,120,000 after buying an additional 29 shares during the period. Finally, Concord Wealth Partners grew its position in shares of BlackRock by 3.0% during the 3rd quarter. Concord Wealth Partners now owns 657 shares of the asset manager’s stock valued at $624,000 after buying an additional 19 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

About BlackRock

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.