UBS Group Has Lowered Expectations for BlackRock (NYSE:BLK) Stock Price

BlackRock (NYSE:BLK) had its target price reduced by investment analysts at UBS Group from $1,045.00 to $1,010.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. UBS Group’s price objective would indicate a potential upside of 14.85% from the stock’s previous close.

A number of other equities analysts have also weighed in on BLK. Citigroup boosted their target price on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. lowered their price objective on shares of BlackRock from $1,053.00 to $1,046.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Bank of America cut their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Barclays lowered their price objective on shares of BlackRock from $1,210.00 to $950.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Finally, TD Cowen decreased their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,096.92.

BlackRock Trading Up 2.4 %

NYSE:BLK opened at $879.39 on Friday. The stock has a market cap of $136.53 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.90 and a beta of 1.38. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average price is $942.05 and its 200-day moving average price is $987.97. BlackRock has a 52 week low of $745.55 and a 52 week high of $1,084.22.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period last year, the business posted $9.81 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 430 shares of BlackRock stock in a transaction on Friday, February 28th. The shares were sold at an average price of $949.37, for a total value of $408,229.10. Following the sale, the director now directly owns 3,720 shares in the company, valued at approximately $3,531,656.40. The trade was a 10.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 20,430 shares of company stock worth $21,234,629 in the last three months. 0.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BLK. Vanguard Group Inc. increased its stake in BlackRock by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager’s stock worth $13,712,493,000 after acquiring an additional 68,405 shares during the last quarter. Capital World Investors lifted its position in BlackRock by 2.3% in the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock worth $4,200,450,000 after buying an additional 93,844 shares during the last quarter. GAMMA Investing LLC boosted its stake in BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock worth $3,312,759,000 after buying an additional 3,496,740 shares during the period. Geode Capital Management LLC raised its stake in shares of BlackRock by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager’s stock valued at $3,072,787,000 after acquiring an additional 190,188 shares during the period. Finally, FMR LLC lifted its holdings in shares of BlackRock by 1.1% in the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager’s stock worth $2,450,475,000 after acquiring an additional 26,485 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.