Deutsche Bank Aktiengesellschaft Increases BlackRock (NYSE:BLK) Price Target to $1,275.00

BlackRock (NYSE:BLK) had its target price lifted by investment analysts at Deutsche Bank Aktiengesellschaft from $1,215.00 to $1,275.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 25.91% from the stock’s current price.

Several other research firms have also weighed in on BLK. Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday. StockNews.com assumed coverage on BlackRock in a research report on Thursday. They set a “hold” rating on the stock. The Goldman Sachs Group raised their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company lowered their price objective on BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Evercore ISI raised their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,100.50.

BlackRock Price Performance

Shares of BLK opened at $1,012.62 on Thursday. BlackRock has a 52 week low of $745.55 and a 52 week high of $1,082.45. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market cap of $156.83 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 1.92 and a beta of 1.28. The stock has a 50 day moving average of $1,029.20 and a 200-day moving average of $943.81.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.66 earnings per share. As a group, analysts forecast that BlackRock will post 43.18 EPS for the current year.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On BlackRock

Several large investors have recently made changes to their positions in the business. FSA Wealth Management LLC bought a new stake in shares of BlackRock in the third quarter valued at about $26,000. Fairscale Capital LLC bought a new position in shares of BlackRock during the second quarter valued at $31,000. West Financial Advisors LLC acquired a new stake in shares of BlackRock during the 4th quarter worth about $39,000. Reston Wealth Management LLC bought a new position in shares of BlackRock in the third quarter valued at approximately $37,000. Finally, MFA Wealth Advisors LLC boosted its stake in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 80.69% 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.