BlackRock (BLK) Price Target Increased to $515.00 by Analysts at Barclays

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.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.13 by $0.48. BlackRock had a net margin of 30.32% and a return on equity of 13.51%. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.30 billion. During the same period in the previous year, the company earned $6.48 EPS. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. Equities research analysts expect that BlackRock will post 27.07 EPS for the current fiscal year.

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.

About BlackRock

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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Analyst Recommendations for BlackRock (NYSE:BLK)

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