BlackRock (NYSE:BLK) Stock Has Consensus Target Price of $1,337.19

BlackRock (NYSE:BLK) has been given an average rating of “Moderate Buy” by the eighteen ratings firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $1,342.25.

A number of equities research analysts have recently weighed in on BLK shares. Wells Fargo & Company lifted their price objective on BlackRock from $1,230.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. upped their target price on BlackRock from $1,435.00 to $1,449.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Zacks Research lowered BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Bank of America cut their price target on shares of BlackRock from $1,320.00 to $1,287.00 in a report on Monday, October 5th. Finally, Evercore reissued an “outperform” rating and set a $1,275.00 price objective (down from $1,300.00) on shares of BlackRock in a research report on Friday, October 9th.

Institutional Investors Weigh In On BlackRock

A number of large investors have recently modified their holdings of BLK. Chicago Partners Investment Group LLC boosted its position in shares of BlackRock by 50.0% during the third quarter. Chicago Partners Investment Group LLC now owns 2,321 shares of the asset manager’s stock valued at $2,595,000 after purchasing an additional 774 shares in the last quarter. Richardson Financial Services Inc. grew its stake in BlackRock by 38.1% in the third quarter. Richardson Financial Services Inc. now owns 87 shares of the asset manager’s stock worth $92,000 after purchasing an additional 24 shares during the period. Ascent Group LLC raised its holdings in BlackRock by 1.0% in the third quarter. Ascent Group LLC now owns 1,361 shares of the asset manager’s stock worth $1,440,000 after purchasing an additional 14 shares in the last quarter. Caldwell Trust Co raised its holdings in BlackRock by 0.3% in the third quarter. Caldwell Trust Co now owns 12,095 shares of the asset manager’s stock worth $12,800,000 after purchasing an additional 32 shares in the last quarter. Finally, 3Chopt Investment Partners LLC lifted its position in BlackRock by 17.4% during the third quarter. 3Chopt Investment Partners LLC now owns 950 shares of the asset manager’s stock valued at $1,006,000 after buying an additional 141 shares during the period. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 0.0%

NYSE BLK opened at $1,147.61 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The stock has a market capitalization of $177.73 billion, a PE ratio of 26.09, a PEG ratio of 1.19 and a beta of 1.37. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,187.17. The business’s 50-day moving average is $1,103.88 and its 200 day moving average is $1,064.04.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, beating analysts’ consensus estimates of $14.32 by $1.61. BlackRock had a return on equity of 16.08% and a net margin of 24.22%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the prior year, the company posted $8.43 EPS. BlackRock’s quarterly revenue was up 19.1% compared to the same quarter last year. Sell-side analysts forecast that BlackRock will post 57.82 earnings per share for the current year.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Private-market assets are projected to exceed $34 trillion by 2031, supporting BlackRock’s long-term growth opportunity in private equity, private credit and other alternative investments. Private markets assets forecast to exceed $34tn by 2031, says Preqin
• Positive Sentiment: BlackRock disclosed that its ownership of OMV rose above 5%, indicating increased exposure to the energy company, although the investment’s direct effect on BlackRock’s earnings is likely limited. BlackRock Lifts OMV Stake Above 5% Threshold
• Neutral Sentiment: BlackRock’s closed-end funds announced estimated distribution sources. The disclosure is routine and mainly provides investors with information about income, capital gains and potential return of capital. Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions
• Neutral Sentiment: The SEC is reviewing whether existing ETF rules adequately cover newer crypto products beyond bitcoin and ether. Clearer regulation could benefit BlackRock over time, but uncertainty may slow product development in the near term. Crypto ETFs Already Go Far Beyond Bitcoin. The SEC Wants to Know If Its Rules Have Kept Up
• Negative Sentiment: A reported $6.3 billion Binance security breach triggered a crypto-market shock, sending BlackRock’s iShares Bitcoin Trust (IBIT) lower. Falling crypto prices can reduce ETF assets under management and fee revenue while damaging sentiment toward BlackRock’s digital-asset expansion. Binance’s $6.3B Hack Sends Bitcoin ETF Tumbling 5%

About BlackRock

BlackRock, Inc is a global investment management and financial technology company headquartered in New York. Founded in 1988, the company provides investment, technology and advisory services to institutional and individual investors, governments, foundations and other clients worldwide.

BlackRock offers a broad range of investment products and strategies, including equity and fixed-income funds, index funds, exchange-traded funds through its iShares business, multi-asset portfolios, cash-management products and alternative investments.