BlackRock (NYSE:BLK) had its price target lifted by investment analysts at Barclays from $490.00 to $515.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the asset manager’s stock. Barclays‘s target price indicates a potential upside of 10.88% from the stock’s previous close.
BLK has been the subject of several other reports. Zacks Investment Research cut shares of BlackRock from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Deutsche Bank lowered shares of BlackRock from a “buy” rating to a “hold” rating and reduced their target price for the company from $444.00 to $405.00 in a report on Thursday, January 10th. Bank of America restated a “buy” rating and set a $498.00 target price (up previously from $490.00) on shares of BlackRock in a report on Friday, March 8th. Jefferies Financial Group restated a “hold” rating and set a $427.00 target price on shares of BlackRock in a report on Wednesday, January 9th. Finally, Credit Suisse Group restated a “buy” rating and set a $532.00 target price on shares of BlackRock in a report on Thursday, January 17th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $505.45.
Shares of NYSE BLK traded down $2.06 during trading on Wednesday, hitting $464.49. 124,862 shares of the company traded hands, compared to its average volume of 500,267. BlackRock has a 1 year low of $360.79 and a 1 year high of $557.00. The stock has a market capitalization of $73.45 billion, a PE ratio of 17.25, a P/E/G ratio of 1.70 and a beta of 1.40. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.64.
In other BlackRock news, CEO Laurence Fink sold 25,102 shares of the business’s stock in a transaction on Friday, January 18th. The shares were sold at an average price of $418.89, for a total value of $10,514,976.78. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Robert L. Goldstein sold 5,133 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $443.00, for a total transaction of $2,273,919.00. The disclosure for this sale can be found here. Insiders sold a total of 138,650 shares of company stock worth $57,774,089 in the last quarter. 1.75% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of BLK. Norges Bank bought a new position in shares of BlackRock in the fourth quarter valued at approximately $1,092,934,000. Northern Trust Corp grew its stake in BlackRock by 0.9% in the 4th quarter. Northern Trust Corp now owns 1,666,574 shares of the asset manager’s stock valued at $654,663,000 after buying an additional 14,587 shares during the last quarter. Geode Capital Management LLC grew its stake in BlackRock by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock valued at $566,150,000 after buying an additional 60,941 shares during the last quarter. Rehmann Capital Advisory Group grew its stake in BlackRock by 51,763.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,084,461 shares of the asset manager’s stock valued at $2,300,000 after buying an additional 1,082,370 shares during the last quarter. Finally, Pennsylvania Trust Co grew its stake in BlackRock by 5,049.8% in the 1st quarter. Pennsylvania Trust Co now owns 1,084,132 shares of the asset manager’s stock valued at $44,805,000 after buying an additional 1,063,080 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.
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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