Evercore ISI Increases BlackRock (NYSE:BLK) Price Target to $1,300.00

BlackRock (NYSE:BLK) had its price target upped by investment analysts at Evercore ISI from $1,200.00 to $1,300.00 in a research report issued on Friday,MarketScreener reports. The firm presently has an “outperform” rating on the asset manager’s stock. Evercore ISI’s price target suggests a potential upside of 20.19% from the company’s current price.

A number of other research analysts have also commented on BLK. BMO Capital Markets boosted their price target on shares of BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Jefferies Financial Group boosted their target price on BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. The Goldman Sachs Group boosted their price objective on BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Loop Capital set a $1,255.00 target price on shares of BlackRock in a research note on Tuesday, October 21st. Finally, Argus boosted their price target on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,303.41.

BlackRock Stock Performance

Shares of BLK stock opened at $1,081.66 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The firm has a 50-day moving average of $1,130.62 and a 200-day moving average of $1,069.28. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The company has a market cap of $167.50 billion, a P/E ratio of 27.81, a P/E/G ratio of 1.90 and a beta of 1.48.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same period in the prior year, the firm posted $11.46 EPS. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. Equities research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the sale, the director owned 7,205 shares in the company, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BLK. Pacifica Partners Inc. raised its position in shares of BlackRock by 450.0% in the 3rd quarter. Pacifica Partners Inc. now owns 22 shares of the asset manager’s stock worth $25,000 after acquiring an additional 18 shares in the last quarter. TruNorth Capital Management LLC lifted its stake in shares of BlackRock by 1,000.0% in the third quarter. TruNorth Capital Management LLC now owns 22 shares of the asset manager’s stock worth $26,000 after buying an additional 20 shares in the last quarter. Garde Capital Inc. boosted its stake in BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares during the last quarter. Traub Capital Management LLC purchased a new stake in shares of BlackRock during the second quarter valued at $28,000. Finally, Whipplewood Advisors LLC boosted its holdings in shares of BlackRock by 107.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 15 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

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.