BlackRock (NYSE:BLK) Price Target Increased to $554.00 by Analysts at Morgan Stanley

BlackRock (NYSE:BLK) had its price objective upped by Morgan Stanley from $547.00 to $554.00 in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. The firm currently has an overweight rating on the asset manager’s stock.

Several other research firms have also recently issued reports on BLK. JPMorgan Chase & Co. lowered their target price on shares of BlackRock from $527.00 to $525.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. BMO Capital Markets assumed coverage on shares of BlackRock in a research note on Monday, October 7th. They set a market perform rating and a $547.00 target price on the stock. UBS Group upped their target price on shares of BlackRock from $515.00 to $525.00 and gave the company a buy rating in a research note on Monday, July 8th. Citigroup lowered their target price on shares of BlackRock from $545.00 to $500.00 and set a buy rating on the stock in a research note on Tuesday, October 15th. Finally, Credit Suisse Group set a $567.00 target price on shares of BlackRock and gave the company a buy rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. BlackRock has a consensus rating of Buy and a consensus target price of $498.49.

BLK opened at $445.04 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.92 and a current ratio of 2.92. The stock has a market capitalization of $69.66 billion, a P/E ratio of 17.17, a P/E/G ratio of 1.56 and a beta of 1.54. The company’s 50-day simple moving average is $433.46 and its two-hundred day simple moving average is $447.33. BlackRock has a 52-week low of $360.79 and a 52-week high of $487.45.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 15th. The asset manager reported $7.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.95 by $0.20. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.69 billion. BlackRock had a net margin of 29.31% and a return on equity of 13.00%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.52 EPS. Research analysts forecast that BlackRock will post 27.54 EPS for the current fiscal year.

In other BlackRock news, insider Jerkovic Milan 2,522,596 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. Also, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $446.74, for a total transaction of $893,480.00. The disclosure for this sale can be found here. 1.42% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Eastern Bank increased its holdings in BlackRock by 1.1% in the 2nd quarter. Eastern Bank now owns 39,243 shares of the asset manager’s stock worth $18,417,000 after acquiring an additional 445 shares in the last quarter. BancorpSouth Bank increased its holdings in BlackRock by 8.6% in the 2nd quarter. BancorpSouth Bank now owns 14,321 shares of the asset manager’s stock worth $6,721,000 after acquiring an additional 1,131 shares in the last quarter. Heritage Way Advisors LLC increased its holdings in BlackRock by 1.4% in the 2nd quarter. Heritage Way Advisors LLC now owns 5,977 shares of the asset manager’s stock worth $2,805,000 after acquiring an additional 80 shares in the last quarter. Cumberland Partners Ltd increased its holdings in BlackRock by 365.2% in the 2nd quarter. Cumberland Partners Ltd now owns 8,802 shares of the asset manager’s stock worth $4,131,000 after acquiring an additional 6,910 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE increased its holdings in BlackRock by 13.3% in the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 850 shares of the asset manager’s stock worth $399,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 81.84% 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.

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Analyst Recommendations for BlackRock (NYSE:BLK)

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