BlackRock (NYSE:BLK) PT Raised to $850.00 at UBS Group

BlackRock (NYSE:BLK) had its target price lifted by analysts at UBS Group from $818.00 to $850.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. UBS Group’s price objective would suggest a potential upside of 11.34% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $802.29.

BlackRock Stock Down 2.9 %

Shares of BlackRock stock opened at $763.40 on Friday. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock has a 12 month low of $596.18 and a 12 month high of $845.00. The business has a fifty day simple moving average of $808.88 and a 200 day simple moving average of $752.88. The stock has a market cap of $113.70 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.69 and a beta of 1.37.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the firm earned $7.93 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Research analysts predict that BlackRock will post 41.32 EPS for the current year.

Insider Transactions at BlackRock

In other news, insider Marc D. Comerchero sold 450 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the sale, the insider now owns 5,975 shares in the company, valued at approximately $4,691,032.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other BlackRock news, insider Marc D. Comerchero sold 450 shares of BlackRock stock in a transaction on Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the transaction, the insider now directly owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephen Cohen sold 950 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the sale, the director now owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. Insiders have sold a total of 100,511 shares of company stock worth $71,864,028 in the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of BlackRock

A number of hedge funds have recently modified their holdings of BLK. Tennessee Valley Asset Management Partners bought a new position in BlackRock during the fourth quarter worth about $27,000. Private Wealth Management Group LLC bought a new position in BlackRock during the fourth quarter worth about $28,000. Pineridge Advisors LLC bought a new position in BlackRock during the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA increased its position in BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after acquiring an additional 25 shares during the period. Finally, Wetzel Investment Advisors Inc. bought a new position in BlackRock during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 80.69% 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.