BlackRock (NYSE:BLK) Stock Price Expected to Rise, BNP Paribas Exane Analyst Says

BlackRock (NYSE:BLK) had its target price hoisted by analysts at BNP Paribas Exane from $1,160.00 to $1,265.00 in a note issued to investors on Thursday,MarketScreener reports. The firm presently has an “outperform” rating on the asset manager’s stock. BNP Paribas Exane’s target price would indicate a potential upside of 11.74% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on BLK. Jefferies Financial Group boosted their price target on BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a report on Tuesday. The Goldman Sachs Group boosted their price target on BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $1,221.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Company lowered their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. Finally, BMO Capital Markets started coverage on shares of BlackRock in a report on Friday, October 3rd. They set an “outperform” rating and a $1,280.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,258.56.

BlackRock Stock Down 3.0%

BlackRock stock opened at $1,132.12 on Thursday. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,184.13. The firm has a market capitalization of $175.31 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The stock’s fifty day moving average is $1,134.85 and its two-hundred day moving average is $1,034.64.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the firm earned $10.36 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Activity at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares in the company, valued at $68,763,964.50. This represents a 21.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Rachel Lord sold 18,036 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the sale, the director owned 19,205 shares of the company’s stock, valued at approximately $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,494 shares of company stock valued at $74,694,573. Insiders own 1.98% of the company’s stock.

Institutional Trading of BlackRock

Institutional investors have recently modified their holdings of the company. Securian Asset Management Inc. purchased a new stake in shares of BlackRock during the 1st quarter worth about $7,331,000. Prudent Man Advisors LLC acquired a new position in shares of BlackRock during the 1st quarter valued at $2,018,000. Allianz SE lifted its holdings in shares of BlackRock by 2.6% during the 1st quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock valued at $10,435,000 after acquiring an additional 277 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of BlackRock during the 1st quarter valued at $40,868,000. Finally, Community Financial Services Group LLC raised its holdings in shares of BlackRock by 17.2% during the 1st quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager’s stock valued at $5,397,000 after buying an additional 836 shares during the period. Hedge funds and other 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.