BlackRock, Inc. (NYSE:BLK)‘s stock had its “buy” rating restated by analysts at Deutsche Bank AG in a research report issued to clients and investors on Saturday, April 22nd. They currently have a $441.00 target price on the asset manager’s stock, down from their previous target price of $449.00. Deutsche Bank AG’s price objective would indicate a potential upside of 12.12% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. Morgan Stanley reaffirmed a “buy” rating on shares of BlackRock in a research note on Saturday, March 18th. Jefferies Group LLC reaffirmed a “hold” rating and set a $383.00 target price on shares of BlackRock in a research note on Wednesday, January 11th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of BlackRock in a research note on Tuesday, January 17th. Citigroup Inc lifted their target price on shares of BlackRock from $425.00 to $430.00 and gave the stock a “buy” rating in a research note on Wednesday, January 25th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of BlackRock in a research note on Wednesday, March 8th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $410.70.
BlackRock (NYSE:BLK) traded up 1.25% during trading on Friday, hitting $393.32. The stock had a trading volume of 682,234 shares. The stock’s 50-day moving average price is $384.26 and its 200-day moving average price is $380.64. BlackRock has a 1-year low of $317.60 and a 1-year high of $399.46. The company has a market capitalization of $64.06 billion, a P/E ratio of 19.32 and a beta of 1.72.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, April 19th. The asset manager reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.31. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.86 billion. BlackRock had a net margin of 28.44% and a return on equity of 11.20%. BlackRock’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $4.25 earnings per share. Analysts expect that BlackRock will post $21.65 earnings per share for the current year.
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Large investors have recently made changes to their positions in the company. Garde Capital Inc. acquired a new stake in shares of BlackRock during the third quarter valued at $900,000. Rockland Trust Co. increased its stake in shares of BlackRock by 5.2% in the third quarter. Rockland Trust Co. now owns 15,590 shares of the asset manager’s stock valued at $5,651,000 after buying an additional 765 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of BlackRock by 2.5% in the third quarter. Great West Life Assurance Co. Can now owns 146,915 shares of the asset manager’s stock valued at $53,234,000 after buying an additional 3,542 shares during the last quarter. Kanawha Capital Management LLC increased its stake in shares of BlackRock by 3.6% in the third quarter. Kanawha Capital Management LLC now owns 2,468 shares of the asset manager’s stock valued at $895,000 after buying an additional 85 shares during the last quarter. Finally, Everett Harris & Co. CA increased its stake in shares of BlackRock by 3.2% in the third quarter. Everett Harris & Co. CA now owns 88,100 shares of the asset manager’s stock valued at $31,933,000 after buying an additional 2,725 shares during the last quarter. 80.82% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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