BlackRock (NYSE:BLK) PT Raised to $545.00 at Morgan Stanley

BlackRock (NYSE:BLK) had its target price increased by equities research analysts at Morgan Stanley from $536.00 to $545.00 in a note issued to investors on Wednesday, April 17th, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s target price points to a potential upside of 17.71% from the company’s current price.

A number of other research firms have also weighed in on BLK. Citigroup upped their price objective on BlackRock from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Deutsche Bank boosted their target price on BlackRock from $428.00 to $431.00 and gave the stock a “hold” rating in a research report on Friday, March 15th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $491.00 target price on the stock in a research report on Tuesday, April 2nd. Barclays boosted their target price on BlackRock from $472.00 to $490.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Finally, Bank of America reiterated a “buy” rating and issued a $498.00 target price (up from $490.00) on shares of BlackRock in a research report on Friday, March 8th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $509.38.

NYSE:BLK traded down $1.22 during trading hours on Wednesday, reaching $463.00. 483,998 shares of the company traded hands, compared to its average volume of 545,110. BlackRock has a 1 year low of $360.79 and a 1 year high of $557.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $73.36 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.67 and a beta of 1.44.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.13 by $0.48. BlackRock had a return on equity of 13.35% and a net margin of 30.58%. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.30 billion. During the same quarter in the previous year, the business earned $6.48 earnings per share. The company’s revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts predict that BlackRock will post 27.78 EPS for the current year.

In other news, insider Jeff A. Smith sold 75 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $479.40, for a total value of $35,955.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Laurence Fink sold 31,250 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $481.79, for a total value of $15,055,937.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,346 shares of company stock worth $39,030,645. Company insiders own 1.42% of the company’s stock.

A number of large investors have recently made changes to their positions in BLK. Blue Fin Capital Inc. boosted its position in BlackRock by 7.5% during the 3rd quarter. Blue Fin Capital Inc. now owns 4,739 shares of the asset manager’s stock valued at $2,234,000 after acquiring an additional 329 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in BlackRock during the 3rd quarter valued at $236,000. Point72 Asset Management L.P. bought a new stake in BlackRock during the 3rd quarter valued at $1,508,000. Mackenzie Financial Corp boosted its position in BlackRock by 0.3% during the 3rd quarter. Mackenzie Financial Corp now owns 103,063 shares of the asset manager’s stock valued at $48,577,000 after acquiring an additional 324 shares in the last quarter. Finally, HRT Financial LLC bought a new stake in BlackRock during the 3rd quarter valued at $228,000. 83.67% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for BlackRock (NYSE:BLK)

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