BlackRock (NYSE:BLK) Stock Price Expected to Rise, TD Cowen Analyst Says

BlackRock (NYSE:BLK) had its price objective boosted by stock analysts at TD Cowen from $1,190.00 to $1,212.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the asset manager’s stock. TD Cowen’s price objective indicates a potential upside of 13.48% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley cut their price target on BlackRock from $1,488.00 to $1,479.00 and set an “overweight” rating on the stock in a report on Friday, September 25th. JPMorgan Chase & Co. lifted their price objective on BlackRock from $1,364.00 to $1,435.00 and gave the company an “overweight” rating in a research note on Tuesday, October 6th. Wells Fargo & Company lowered their price objective on BlackRock from $1,245.00 to $1,230.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. UBS Group lowered their price objective on BlackRock from $1,320.00 to $1,277.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Finally, Bank of America upped their target price on shares of BlackRock from $1,298.00 to $1,320.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,309.88.

BlackRock Stock Down 1.5%

BlackRock stock opened at $1,068.07 on Monday. The firm has a market capitalization of $165.41 billion, a P/E ratio of 21.19, a P/E/G ratio of 1.22 and a beta of 1.41. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The stock’s fifty day simple moving average is $1,107.58 and its 200-day simple moving average is $1,060.27.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a return on equity of 14.90% and a net margin of 24.09%. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same period last year, the business posted $12.05 earnings per share. BlackRock’s revenue was up 30.6% compared to the same quarter last year. As a group, equities analysts expect that BlackRock will post 55.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackRock

Hedge funds and other institutional investors have recently made changes to their positions in the business. Salem Investment Counselors Inc. lifted its stake in BlackRock by 186.2% during the third quarter. Salem Investment Counselors Inc. now owns 269 shares of the asset manager’s stock worth $285,000 after purchasing an additional 175 shares during the last quarter. Signal Advisors Wealth LLC boosted its holdings in BlackRock by 11.7% in the third quarter. Signal Advisors Wealth LLC now owns 343 shares of the asset manager’s stock valued at $363,000 after purchasing an additional 36 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in BlackRock by 316.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 5,198 shares of the asset manager’s stock valued at $5,501,000 after purchasing an additional 3,951 shares in the last quarter. Krilogy Financial LLC increased its stake in BlackRock by 57.1% in the third quarter. Krilogy Financial LLC now owns 7,237 shares of the asset manager’s stock valued at $7,659,000 after purchasing an additional 2,630 shares during the last quarter. Finally, Maltin Wealth Management Inc. purchased a new position in BlackRock in the third quarter valued at approximately $214,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock-backed funds and accounts managed by HPS Investment Partners are forming a majority-owned joint venture with Humana to manage nearly 150 CenterWell senior-care clinics. The deal expands BlackRock’s private-market presence and could generate management and investment fees. Humana Announces New Strategic Joint Venture with BlackRock
• Positive Sentiment: Funds managed by BlackRock are co-leading a $200 million financing for 3D-printed homebuilder Icon, highlighting the firm’s ability to deploy capital into private growth companies and alternative assets. BlackRock and Baillie Gifford bet big on Icon 3D printed homes
• Positive Sentiment: The RBC iShares platform launched a new actively managed artificial-intelligence and technology ETF, adding to BlackRock’s product lineup and potential fee-generating assets. The RBC iShares Alliance Expands Lineup
• Positive Sentiment: TD Cowen raised its BlackRock price target to $1,212 from $1,190, although it maintained a Hold rating. BlackRock Given New Price Target at TD Cowen
• Neutral Sentiment: BlackRock is scheduled to report third-quarter results shortly, with analysts expecting continued growth and strong asset inflows. The report could be the next major catalyst for BLK.
• Neutral Sentiment: The BlackRock Foundation is funding a SaverLife financial-wellness app for more than 75,000 skilled-trades apprentices. The initiative supports the company’s workforce-development profile but is unlikely to materially affect near-term earnings. SaverLife and The BlackRock Foundation Partnership
• Negative Sentiment: BlackRock’s investment strategists moved U.S. Treasuries to overweight and closed their U.S. stock overweight, citing more attractive yields after the bond selloff. The shift signals caution toward equities and could raise concerns about market conditions affecting asset flows. BlackRock cools on US stocks, turns bullish on short-dated Treasuries
• Negative Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) recorded approximately $65.4 million in net outflows, representing the entire day’s withdrawals from U.S. spot Bitcoin ETFs. Continued redemptions could pressure fee revenue and investor sentiment. Bitcoin ETF Outflows Reach $65 Million
• Negative Sentiment: A viral claim that BlackRock assigned XRP a $32.91 price target appears to be unsupported, limiting any potential benefit from the speculation and underscoring misinformation risk around crypto-related headlines. Did BlackRock Really Put a $32.91 Price Target on XRP?

About BlackRock

BlackRock, Inc is a global investment management and financial technology company serving individual investors, institutions, governments and financial professionals. The company provides investment management, risk management and advisory services across a broad range of asset classes, including equities, fixed income, multi-asset strategies, alternatives and cash management.

BlackRock offers investment products through mutual funds, exchange-traded funds and other vehicles. Its iShares brand is one of the company’s principal platforms for exchange-traded funds, providing access to domestic and international markets, industry sectors, bonds, commodities and specialized investment strategies.

The company also provides technology and analytical solutions through its Aladdin platform, which is used by asset managers, institutional investors and other financial organizations for portfolio management, risk analysis, trading and operational support.