BlackRock (NYSE:BLK) had its price target lowered by stock analysts at Morgan Stanley from $554.00 to $514.00 in a research note issued on Wednesday, Marketbeat.com reports. The firm currently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s price objective points to a potential upside of 26.33% from the stock’s previous close.
BLK has been the topic of several other research reports. JPMorgan Chase & Co. upped their target price on BlackRock from $541.00 to $592.00 and gave the stock a “buy” rating in a report on Monday, October 8th. Citigroup dropped their target price on BlackRock to $500.00 and set a “buy” rating on the stock in a report on Wednesday, October 17th. Goldman Sachs Group lowered BlackRock from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, October 17th. Deutsche Bank upped their target price on BlackRock from $549.00 to $559.00 and gave the stock a “buy” rating in a report on Thursday, September 27th. Finally, ValuEngine upgraded BlackRock from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $562.46.
BLK opened at $406.88 on Wednesday. BlackRock has a 52-week low of $376.31 and a 52-week high of $594.52. The stock has a market cap of $65.00 billion, a P/E ratio of 15.02, a P/E/G ratio of 1.22 and a beta of 1.54. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.87 and a current ratio of 3.07.
In other BlackRock news, Director William E. Ford acquired 2,000 shares of the company’s stock in a transaction on Monday, October 22nd. The shares were purchased at an average price of $395.21 per share, for a total transaction of $790,420.00. Following the completion of the purchase, the director now directly owns 9,466 shares of the company’s stock, valued at $3,741,057.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.86% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC bought a new stake in BlackRock in the third quarter valued at approximately $116,000. Canton Hathaway LLC acquired a new position in shares of BlackRock in the third quarter valued at approximately $146,000. AlphaMark Advisors LLC acquired a new position in shares of BlackRock in the second quarter valued at approximately $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of BlackRock in the second quarter valued at approximately $150,000. Finally, Kaizen Advisory LLC grew its position in shares of BlackRock by 156.7% in the second quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock valued at $154,000 after purchasing an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 82.76% 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.
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