BlackRock (NYSE:BLK) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

BlackRock (NYSE:BLK) had its price objective boosted by equities researchers at Deutsche Bank Aktiengesellschaft from $1,105.00 to $1,133.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 9.35% from the company’s current price.

BLK has been the subject of a number of other research reports. TD Cowen increased their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their target price on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Citigroup boosted their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods raised their price objective on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley boosted their target price on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Price Performance

BlackRock stock opened at $1,036.09 on Monday. The firm has a market cap of $153.48 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The stock’s fifty day moving average price is $956.14 and its two-hundred day moving average price is $863.66. BlackRock has a one year low of $658.14 and a one year high of $1,068.34.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. BlackRock’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the business earned $10.91 earnings per share. As a group, research analysts expect that BlackRock will post 43.16 EPS for the current fiscal year.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $875.03, for a total value of $10,500,360.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,670,194.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BLK. Fairscale Capital LLC bought a new position in shares of BlackRock in the 2nd quarter worth about $31,000. Reston Wealth Management LLC bought a new stake in BlackRock in the third quarter worth approximately $37,000. MFA Wealth Advisors LLC lifted its position in shares of BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the period. Addison Advisors LLC boosted its position in shares of BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in BlackRock in the 3rd quarter valued at about $54,000. Institutional investors own 80.69% 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.