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.
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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