BlackRock (NYSE:BLK)‘s stock had its “buy” rating reissued by analysts at Evercore ISI in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They presently have a $956.00 price objective on the asset manager’s stock. Evercore ISI’s price target indicates a potential upside of 10.16% from the stock’s previous close.
Other analysts have also issued research reports about the company. Morgan Stanley lifted their price objective on BlackRock from $944.00 to $1,017.00 and gave the stock an “overweight” rating in a report on Friday, July 9th. Citigroup boosted their price target on BlackRock from $1,030.00 to $1,035.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets boosted their price target on BlackRock from $773.00 to $803.00 and gave the company a “market perform” rating in a report on Thursday, July 15th. UBS Group boosted their price target on BlackRock from $890.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, July 8th. Finally, Argus boosted their target price on BlackRock from $950.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, July 15th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, BlackRock has an average rating of “Buy” and an average price target of $952.93.
Shares of NYSE:BLK opened at $867.81 on Thursday. The stock has a market capitalization of $132.08 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.40 and a beta of 1.15. The stock has a fifty day simple moving average of $895.01 and a two-hundred day simple moving average of $866.24. BlackRock has a 12-month low of $587.90 and a 12-month high of $959.89. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.
In other BlackRock news, General Counsel Christopher J. Meade sold 2,106 shares of the company’s stock in a transaction on Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total transaction of $1,847,467.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.16% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Moser Wealth Advisors LLC purchased a new position in BlackRock in the 2nd quarter worth $26,000. Atlas Private Wealth Advisors raised its stake in BlackRock by 130.8% in the 2nd quarter. Atlas Private Wealth Advisors now owns 30 shares of the asset manager’s stock worth $26,000 after acquiring an additional 17 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in BlackRock during the 2nd quarter worth about $31,000. Clean Yield Group acquired a new stake in BlackRock during the 2nd quarter worth about $35,000. Finally, KB Financial Partners LLC acquired a new stake in BlackRock during the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 78.13% of the company’s stock.
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
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