BlackRock (BLK) Stock Rating Reaffirmed by Wells Fargo & Co

BlackRock (NYSE:BLK)‘s stock had its “market perform” rating reaffirmed by stock analysts at Wells Fargo & Co in a note issued to investors on Tuesday. They currently have a $555.00 target price on the asset manager’s stock, up from their previous target price of $535.00. Wells Fargo & Co’s price target points to a potential downside of 3.73% from the stock’s current price.

BLK has been the topic of several other research reports. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 target price on the stock in a report on Thursday, January 11th. Jefferies Group upped their target price on shares of BlackRock to $565.00 and gave the stock a “hold” rating in a report on Monday. Citigroup upped their target price on shares of BlackRock to $625.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of BlackRock to $558.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a report on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $547.92.

Shares of BlackRock (BLK) traded up $13.51 during trading on Tuesday, reaching $576.51. 983,900 shares of the company’s stock traded hands, compared to its average volume of 682,127. The company has a market cap of $93,460.00, a price-to-earnings ratio of 19.03, a PEG ratio of 1.54 and a beta of 1.81. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. BlackRock has a 12-month low of $365.83 and a 12-month high of $578.63.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.94 by $0.30. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the firm earned $5.14 EPS. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. sell-side analysts forecast that BlackRock will post 28.01 EPS for the current year.

In other BlackRock news, Director Susan Wagner sold 4,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the sale, the director now owns 481,915 shares of the company’s stock, valued at approximately $243,897,181.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeff A. Smith sold 100 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $477.54, for a total transaction of $47,754.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,525 shares of company stock worth $2,312,687. Insiders own 1.86% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Oakbrook Investments LLC bought a new stake in BlackRock during the 4th quarter worth about $2,877,000. Acadian Asset Management LLC grew its holdings in BlackRock by 284.8% during the 4th quarter. Acadian Asset Management LLC now owns 2,778 shares of the asset manager’s stock worth $1,427,000 after acquiring an additional 2,056 shares during the last quarter. Berkshire Asset Management LLC PA grew its holdings in BlackRock by 33.0% during the 4th quarter. Berkshire Asset Management LLC PA now owns 899 shares of the asset manager’s stock worth $462,000 after acquiring an additional 223 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in BlackRock by 4.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 437,350 shares of the asset manager’s stock worth $224,672,000 after acquiring an additional 19,152 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in BlackRock by 10.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 960 shares of the asset manager’s stock worth $493,000 after acquiring an additional 93 shares during the last quarter. 83.55% of the stock is currently owned by hedge funds and other institutional investors.

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BlackRock Company Profile

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

Analyst Recommendations for BlackRock (NYSE:BLK)

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