BMO Capital Markets Issues Positive Forecast for BlackRock (NYSE:BLK) Stock Price
by Sarita Garza · The Markets DailyBlackRock (NYSE:BLK – Get Free Report) had its price objective boosted by research analysts at BMO Capital Markets from $1,200.00 to $1,250.00 in a research report issued on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the asset manager’s stock. BMO Capital Markets’ price objective points to a potential upside of 18.24% from the stock’s previous close.
A number of other research firms have also recently issued reports on BLK. CICC Research boosted their target price on BlackRock from $1,000.00 to $1,250.00 in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. decreased their target price on shares of BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. The Goldman Sachs Group lifted their price target on shares of BlackRock from $1,181.00 to $1,313.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley raised their price objective on BlackRock from $1,368.00 to $1,393.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Freedom Capital raised BlackRock from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,269.06.
View Our Latest Research Report on BLK
BlackRock Stock Up 0.5%
Shares of BLK opened at $1,057.15 on Monday. The firm has a market capitalization of $164.43 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 1.37 and a beta of 1.48. BlackRock has a 52 week low of $845.82 and a 52 week high of $1,219.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.98 and a current ratio of 2.98. The business’s fifty day moving average price is $1,012.55 and its two-hundred day moving average price is $1,066.51.
BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.40 by $0.13. BlackRock had a return on equity of 14.96% and a net margin of 24.40%.The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the business earned $9.64 earnings per share. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. On average, analysts predict that BlackRock will post 47.41 earnings per share for the current year.
Insider Buying and Selling at BlackRock
In other BlackRock news, Director J. Richard Kushel sold 20,000 shares of BlackRock stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $1,125.00, for a total value of $22,500,000.00. Following the completion of the transaction, the director directly owned 61,894 shares of the company’s stock, valued at $69,630,750. The trade was a 24.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Cohen sold 2,179 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $1,073.87, for a total transaction of $2,339,962.73. Following the sale, the director owned 6,543 shares in the company, valued at $7,026,331.41. The trade was a 24.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 84,272 shares of company stock valued at $92,323,426 in the last three months. Corporate insiders own 1.92% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in BLK. Brighton Jones LLC lifted its stake in shares of BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after acquiring an additional 296 shares during the last quarter. Bison Wealth LLC increased its stake in shares of BlackRock by 1.6% in the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after acquiring an additional 17 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in BlackRock during the 2nd quarter worth $259,000. Nebula Research & Development LLC bought a new stake in shares of BlackRock in the 2nd quarter worth $548,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of BlackRock during the second quarter valued at about $98,000. Institutional investors own 80.69% of the company’s stock.
BlackRock Company Profile
BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.
In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.