BlackRock, Inc. (NYSE:BLK) Receives $995.31 Average PT from Brokerages

BlackRock, Inc. (NYSE:BLK) has received a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $995.31.

A number of equities research analysts have recently weighed in on BLK shares. Argus boosted their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. StockNews.com began coverage on BlackRock in a research note on Tuesday. They set a “hold” rating for the company. Citigroup lifted their target price on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley increased their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group boosted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,029.82 on Thursday. The company’s fifty day moving average price is $947.54 and its 200-day moving average price is $857.04. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm has a market capitalization of $152.55 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 1.77 and a beta of 1.30. BlackRock has a one year low of $646.91 and a one year high of $1,057.51.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the business posted $10.91 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities research analysts anticipate that BlackRock will post 42.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,670,194.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 35,061 shares of company stock worth $30,734,840 in the last 90 days. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On BlackRock

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in BlackRock by 2.3% in 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 last quarter. Capital Research Global Investors increased its position in shares of BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after acquiring an additional 435,358 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in BlackRock by 2.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after acquiring an additional 46,728 shares during the last quarter. Legal & General Group Plc lifted its position in 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 acquiring an additional 22,311 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its stake in BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after purchasing an additional 1,044,962 shares during the last quarter. Hedge funds and other 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.