Morgan Stanley Lowers BlackRock (NYSE:BLK) Price Target to $932.00

BlackRock (NYSE:BLKGet Rating) had its target price dropped by analysts at Morgan Stanley from $966.00 to $932.00 in a research report issued on Thursday, MarketBeat reports. The firm currently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s target price points to a potential upside of 35.43% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. BNP Paribas lowered shares of BlackRock from an “outperform” rating to a “neutral” rating and set a $725.00 price target on the stock. in a research note on Tuesday, March 8th. The Goldman Sachs Group cut their price objective on shares of BlackRock from $1,000.00 to $800.00 and set a “buy” rating on the stock in a research note on Monday, March 14th. Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating and set a $808.00 price objective on the stock in a research note on Monday, April 4th. Bank of America assumed coverage on shares of BlackRock in a research note on Thursday, December 16th. They issued a “buy” rating on the stock. Finally, StockNews.com assumed coverage on shares of BlackRock in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, BlackRock currently has an average rating of “Buy” and a consensus price target of $889.71.

Shares of BlackRock stock opened at $688.17 on Thursday. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.38. BlackRock has a 12-month low of $660.15 and a 12-month high of $973.16. The firm has a market capitalization of $104.63 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 1.72 and a beta of 1.22. The firm’s 50 day simple moving average is $739.58 and its two-hundred day simple moving average is $838.94.

BlackRock (NYSE:BLKGet Rating) last issued its quarterly earnings results on Wednesday, April 13th. The asset manager reported $9.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $9.18 by $0.34. BlackRock had a net margin of 31.20% and a return on equity of 17.08%. The business had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the prior year, the business posted $7.77 EPS. BlackRock’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, sell-side analysts predict that BlackRock will post 40.12 EPS for the current fiscal year.

In related news, Director Mark Mccombe sold 1,400 shares of the stock in a transaction on Monday, February 7th. The shares were sold at an average price of $819.32, for a total transaction of $1,147,048.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.16% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Columbia Trust Co 01012016 lifted its holdings in BlackRock by 7.7% during the first quarter. Columbia Trust Co 01012016 now owns 3,103 shares of the asset manager’s stock valued at $2,136,000 after purchasing an additional 223 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of BlackRock by 16.9% in the first quarter. Wealthcare Advisory Partners LLC now owns 766 shares of the asset manager’s stock worth $586,000 after buying an additional 111 shares in the last quarter. CRA Financial Services LLC lifted its stake in shares of BlackRock by 11.1% in the first quarter. CRA Financial Services LLC now owns 412 shares of the asset manager’s stock worth $315,000 after buying an additional 41 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of BlackRock by 14.4% in the first quarter. Ritholtz Wealth Management now owns 1,102 shares of the asset manager’s stock worth $842,000 after buying an additional 139 shares in the last quarter. Finally, Osher Van de Voorde Investment Management lifted its stake in shares of BlackRock by 3.5% in the first quarter. Osher Van de Voorde Investment Management now owns 25,398 shares of the asset manager’s stock worth $19,408,000 after buying an additional 851 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

About BlackRock (Get Rating)

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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