Brokerages Set BlackRock, Inc. (BLK) PT at $494.03

Shares of BlackRock, Inc. (NYSE:BLK) have earned a consensus recommendation of “Buy” from the fifteen research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $494.03.

Several brokerages have recently issued reports on BLK. Barclays upped their target price on shares of BlackRock from $490.00 to $515.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Credit Suisse Group reissued a “buy” rating and issued a $532.00 price objective on shares of BlackRock in a research note on Thursday, January 17th. Jefferies Financial Group raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $405.36 price objective for the company in a research note on Tuesday, January 29th. Argus reissued a “buy” rating on shares of BlackRock in a research note on Thursday, January 17th. Finally, Morgan Stanley set a $515.00 price objective on shares of BlackRock and gave the stock a “buy” rating in a research note on Friday, February 8th.

Shares of NYSE BLK traded up $3.99 during midday trading on Friday, hitting $446.77. 4,977 shares of the company traded hands, compared to its average volume of 604,439. BlackRock has a 12-month low of $360.79 and a 12-month high of $557.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $73.17 billion, a P/E ratio of 16.58, a P/E/G ratio of 1.67 and a beta of 1.44.



BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 EPS for the quarter, topping the consensus estimate of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.35%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the previous year, the firm posted $6.48 earnings per share. BlackRock’s quarterly revenue was down 6.6% on a year-over-year basis. Research analysts anticipate that BlackRock will post 27.78 earnings per share for the current year.

In other BlackRock news, Chairman Laurence Fink sold 31,250 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total transaction of $15,055,937.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gary Shedlin sold 2,750 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $467.99, for a total transaction of $1,286,972.50. The disclosure for this sale can be found here. Insiders have sold 44,346 shares of company stock valued at $20,869,645 over the last ninety days. 1.42% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Standard Life Aberdeen plc lifted its stake in BlackRock by 10.0% during the 3rd quarter. Standard Life Aberdeen plc now owns 41,267 shares of the asset manager’s stock valued at $19,451,000 after acquiring an additional 3,752 shares during the period. Marshall Wace North America L.P. lifted its position in shares of BlackRock by 256.9% during the third quarter. Marshall Wace North America L.P. now owns 3,212 shares of the asset manager’s stock worth $1,514,000 after purchasing an additional 2,312 shares in the last quarter. Sheets Smith Wealth Management lifted its position in shares of BlackRock by 1.4% during the fourth quarter. Sheets Smith Wealth Management now owns 5,935 shares of the asset manager’s stock worth $2,331,000 after purchasing an additional 80 shares in the last quarter. Beech Hill Advisors Inc. acquired a new stake in shares of BlackRock during the fourth quarter worth about $3,543,000. Finally, Pennsylvania Trust Co lifted its position in shares of BlackRock by 4.1% during the fourth quarter. Pennsylvania Trust Co now owns 21,052 shares of the asset manager’s stock worth $8,269,000 after purchasing an additional 828 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

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.

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Analyst Recommendations for BlackRock (NYSE:BLK)

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