JPMorgan Chase & Co. Raises BlackRock (NYSE:BLK) Price Target to $914.00

BlackRock (NYSE:BLK) had its price objective hoisted by JPMorgan Chase & Co. from $864.00 to $914.00 in a research report released on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the asset manager’s stock.

Several other equities research analysts have also weighed in on the company. TD Cowen lifted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Wells Fargo & Company increased their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. StockNews.com initiated coverage on shares of BlackRock in a research note on Sunday. They set a “hold” rating on the stock. Finally, UBS Group decreased their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $995.31.

BlackRock Stock Performance

Shares of BLK stock opened at $988.16 on Monday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average of $924.23 and a 200 day moving average of $841.60. The firm has a market capitalization of $146.84 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 1.94 and a beta of 1.30. BlackRock has a 52 week low of $596.18 and a 52 week high of $1,032.00.

BlackRock (NYSE:BLK) last announced its 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 net margin of 32.36% and a return on equity of 15.44%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the previous year, the firm posted $10.91 EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, research analysts expect that BlackRock will post 41.73 earnings per share for the current year.

Insider Buying and Selling at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares in the company, valued at $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,042 shares of company stock worth $56,857,777. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On BlackRock

A number of institutional investors and hedge funds have recently modified their holdings of BLK. Vanguard Group Inc. boosted its holdings in shares of 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 boosted its stake in shares of BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after acquiring an additional 435,358 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of 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 purchasing an additional 46,728 shares in the last quarter. Legal & General Group Plc raised its holdings 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 worth $942,640,000 after purchasing an additional 22,311 shares during the period. Finally, International Assets Investment Management LLC lifted its position in BlackRock by 104,468.9% during the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after purchasing an additional 791,874 shares in the last quarter. 80.69% of the stock is currently 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.