UBS Group Raises BlackRock (NYSE:BLK) Price Target to $850.00

BlackRock (NYSE:BLK) had its price target raised by UBS Group from $818.00 to $850.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

Several other equities analysts have also weighed in on the company. TD Cowen raised BlackRock from a market perform rating to an outperform rating and increased their target price for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods reissued an outperform rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price target on BlackRock from $742.00 to $767.00 and gave the stock a neutral rating in a research report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $811.43.

BlackRock Trading Down 0.1 %

Shares of BLK opened at $762.99 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 firm has a market capitalization of $113.64 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.65 and a beta of 1.37. The stock’s fifty day simple moving average is $808.48 and its 200-day simple moving average is $754.48.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the prior year, the firm posted $7.93 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts predict that BlackRock will post 41.35 earnings per share for the current year.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Marc D. Comerchero sold 450 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $785.11, for a total value of $353,299.50. Following the completion of the sale, the insider now directly owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The disclosure for this sale can be found here. Insiders sold a total of 100,511 shares of company stock worth $71,864,028 over the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of BlackRock

Hedge funds have recently made changes to their positions in the business. Tennessee Valley Asset Management Partners bought a new stake in BlackRock in the 4th quarter valued at $27,000. Private Wealth Management Group LLC bought a new stake in BlackRock in the 4th quarter valued at $28,000. Pineridge Advisors LLC bought a new stake in BlackRock in the 4th quarter valued at $28,000. LFA Lugano Financial Advisors SA boosted its stake in BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 25 shares during the period. Finally, Wetzel Investment Advisors Inc. bought a new stake in BlackRock in the 4th quarter valued at $32,000. 80.69% of the stock is owned by institutional investors and hedge funds.

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.