BlackRock (BLK) Given New $431.00 Price Target at Deutsche Bank

BlackRock (NYSE:BLK) had its target price lifted by equities researchers at Deutsche Bank from $428.00 to $431.00 in a research note issued to investors on Friday. The firm presently has a “hold” rating on the asset manager’s stock. Deutsche Bank’s price objective indicates a potential downside of 1.31% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Credit Suisse Group reaffirmed a “buy” rating and set a $532.00 price objective on shares of BlackRock in a research report on Thursday, January 17th. Morgan Stanley reduced their price target on BlackRock from $514.00 to $489.00 and set an “overweight” rating for the company in a report on Friday, January 4th. Bank of America reissued a “buy” rating and issued a $478.00 price target (down from $525.00) on shares of BlackRock in a report on Thursday, December 6th. Jefferies Financial Group raised BlackRock from a “hold” rating to a “buy” rating and set a $405.36 price target for the company in a report on Tuesday, January 29th. Finally, Argus reissued a “buy” rating on shares of BlackRock in a report on Thursday, January 17th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $498.49.

BlackRock stock traded up $3.07 during mid-day trading on Friday, reaching $436.70. 17,132 shares of the company were exchanged, compared to its average volume of 636,439. BlackRock has a twelve month low of $360.79 and a twelve month high of $573.47. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $67.61 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.73 and a beta of 1.41.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, January 16th. The asset manager reported $6.08 earnings per share for the quarter, missing analysts’ consensus estimates of $6.35 by ($0.27). BlackRock had a return on equity of 13.51% and a net margin of 30.32%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the business posted $6.24 earnings per share. The firm’s revenue was down 8.8% compared to the same quarter last year. Equities analysts predict that BlackRock will post 26.23 earnings per share for the current year.

In related news, Chairman Laurence Fink sold 30,832 shares of BlackRock stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $418.32, for a total transaction of $12,897,642.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert L. Goldstein sold 5,133 shares of BlackRock stock in a transaction on Monday, March 4th. The stock was sold at an average price of $443.00, for a total value of $2,273,919.00. The disclosure for this sale can be found here. Insiders sold a total of 138,650 shares of company stock valued at $57,774,089 over the last three months. Insiders own 1.75% of the company’s stock.

A number of hedge funds have recently modified their holdings of BLK. Norges Bank purchased a new position in BlackRock during the fourth quarter worth $1,092,934,000. Rehmann Capital Advisory Group increased its position in BlackRock by 51,763.3% during the third quarter. Rehmann Capital Advisory Group now owns 1,084,461 shares of the asset manager’s stock worth $2,300,000 after buying an additional 1,082,370 shares in the last quarter. Capital International Investors purchased a new position in BlackRock during the third quarter worth $477,939,000. Flossbach Von Storch AG grew its position in shares of BlackRock by 114.1% in the fourth quarter. Flossbach Von Storch AG now owns 582,743 shares of the asset manager’s stock valued at $228,913,000 after purchasing an additional 310,623 shares during the period. Finally, Beutel Goodman & Co Ltd. purchased a new stake in shares of BlackRock in the fourth quarter valued at $6,039,000. 82.09% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for BlackRock (NYSE:BLK)

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