BlackRock (NYSE:BLK) Price Target Raised to $1,449.00

BlackRock (NYSE:BLK) had its price target increased by JPMorgan Chase & Co. from $1,435.00 to $1,449.00 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the asset manager’s stock.

Several other research analysts have also recently weighed in on BLK. UBS Group upped their price target on shares of BlackRock from $1,277.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America lifted their price objective on BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Wells Fargo & Company lifted their price objective on BlackRock from $1,230.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday. The Goldman Sachs Group restated a “buy” rating and set a $1,389.00 target price on shares of BlackRock in a research report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods upped their target price on BlackRock from $1,290.00 to $1,310.00 and gave the stock an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,312.06.

BlackRock Stock Performance

BlackRock stock opened at $1,133.07 on Thursday. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,187.17. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $175.48 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 1.25 and a beta of 1.41. The firm’s 50 day simple moving average is $1,106.23 and its 200 day simple moving average is $1,062.85.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, beating the consensus estimate of $14.32 by $1.61. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same period last year, the firm earned $8.43 EPS. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. As a group, analysts expect that BlackRock will post 57.47 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were given a dividend of $5.73 per share. The ex-dividend date was Tuesday, September 8th. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. BlackRock’s dividend payout ratio is 52.11%.

Hedge Funds Weigh In On BlackRock

Large investors have recently modified their holdings of the company. Santa Clara Valley Transportation Authority bought a new stake in shares of BlackRock during the second quarter valued at approximately $129,138,253,000. BlackRock Inc. bought a new position in BlackRock in the second quarter worth $9,747,857,000. Corient Private Wealth LLC raised its holdings in BlackRock by 5,190.3% in the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock worth $5,876,618,000 after purchasing an additional 5,386,640 shares in the last quarter. Temasek Holdings Private Ltd raised its holdings in BlackRock by 4.7% in the first quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock worth $5,126,387,000 after purchasing an additional 237,667 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in BlackRock by 0.7% during the first quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager’s stock valued at $5,032,603,000 after buying an additional 35,069 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Strong Q3 results support the rally. BlackRock reported adjusted earnings of $15.93 per share, exceeding the $14.32 consensus estimate, while revenue of $7.75 billion also topped expectations and increased 19.1% year over year. Improved operating income and margins helped ease concerns about profitability. BlackRock Stock Jumps as Q3 Earnings Power Margin Recovery
• Positive Sentiment: Record inflows point to continued organic growth. BlackRock attracted approximately $205 billion in net new client assets during the quarter, lifting assets under management to roughly $15.5 trillion. Broad ETF demand, fixed income, private markets and technology fees are diversifying the company’s revenue base. How Record Inflows at BlackRock Have Changed Its Investment Story
• Positive Sentiment: Analysts raised their expectations. JPMorgan increased its price target to $1,449 and maintained an Overweight rating, while Keefe, Bruyette & Woods raised its target to $1,310 with an Outperform rating. Bank of America also reiterated a Buy rating and lifted its target to $1,313, citing strong earnings and ETF inflows. Analysts Boost Forecasts on BlackRock
• Positive Sentiment: AI infrastructure could create new fee opportunities. Management highlighted financing for data centers and compute infrastructure, along with growth in higher-fee products, as potential longer-term earnings drivers. CEO Larry Fink’s support for continued data-center construction reinforces BlackRock’s positioning in this investment theme. BlackRock Sees Large Opportunity in Developing Compute Market
• Neutral Sentiment: BlackRock disclosed portfolio changes involving stakes in Qiagen, Suzano, Caledonia Mining and Fagron. These transactions demonstrate ongoing investment activity but are not expected to materially affect BLK’s earnings.
• Negative Sentiment: Ethereum ETFs experienced another day of net redemptions, led by BlackRock’s ETHA. Persistent crypto-fund outflows could pressure short-term fee revenue, although the impact is limited relative to BlackRock’s broader platform. Ethereum ETFs See Outflows
• Negative Sentiment: BlackRock faces tougher competition in low-cost Nasdaq-100 ETFs from State Street and other providers, while early inflows remain limited and trading volumes trail the established QQQ product. QQQ vs. Cheaper Nasdaq-100 ETFs

BlackRock Company Profile

BlackRock, Inc is a global investment management and financial technology company headquartered in New York. Founded in 1988, the company provides investment, technology and advisory services to institutional and individual investors, governments, foundations and other clients worldwide.

BlackRock offers a broad range of investment products and strategies, including equity and fixed-income funds, index funds, exchange-traded funds through its iShares business, multi-asset portfolios, cash-management products and alternative investments.