BlackRock (NYSE:BLK) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

BlackRock (NYSE:BLK) had its target price lifted by Deutsche Bank Aktiengesellschaft from $1,105.00 to $1,133.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the asset manager’s stock.

BLK has been the topic of several other research reports. JPMorgan Chase & Co. boosted their price target on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Wells Fargo & Company boosted their target price on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods increased their price target on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. TD Cowen boosted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Barclays upped their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,047.01 on Monday. The stock has a market cap of $155.09 billion, a P/E ratio of 25.84, a P/E/G ratio of 1.85 and a beta of 1.30. BlackRock has a twelve month low of $697.70 and a twelve month high of $1,068.34. The stock has a 50 day moving average of $962.02 and a two-hundred day moving average of $866.74. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. BlackRock’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.91 EPS. On average, research analysts forecast that BlackRock will post 43.17 earnings per share for the current year.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLK. FSA Wealth Management LLC purchased a new position in shares of BlackRock during the third quarter valued at approximately $26,000. Fairscale Capital LLC acquired a new position in BlackRock in the 2nd quarter valued at $31,000. Reston Wealth Management LLC purchased a new position in shares of BlackRock during the 3rd quarter worth $37,000. MFA Wealth Advisors LLC grew its position in shares of BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares during the period. Finally, Addison Advisors LLC increased its stake in BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 22 shares during 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.