Brokerages Set BlackRock, Inc. (BLK) PT at $484.03

BlackRock, Inc. (NYSE:BLK) has been assigned an average recommendation of “Buy” from the fifteen analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $494.03.

BLK has been the topic of a number of research reports. Zacks Investment Research reissued a “sell” rating on shares of BlackRock in a report on Monday, December 31st. Deutsche Bank lowered shares of BlackRock from a “buy” rating to a “hold” rating and reduced their target price for the stock from $444.00 to $405.00 in a report on Thursday, January 10th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $472.00 price objective on shares of BlackRock in a research note on Wednesday, January 9th. Morgan Stanley reduced their price objective on shares of BlackRock from $514.00 to $489.00 and set an “overweight” rating on the stock in a research note on Friday, January 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $427.00 price objective on shares of BlackRock in a research note on Wednesday, January 9th.

BLK traded down $1.80 during trading on Tuesday, reaching $465.69. 530,369 shares of the company’s stock were exchanged, compared to its average volume of 617,644. BlackRock has a one year low of $360.79 and a one year high of $557.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $73.59 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.70 and a beta of 1.40.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.13 by $0.48. BlackRock had a net margin of 30.32% and a return on equity of 13.51%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same period in the previous year, the firm posted $6.48 EPS. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities research analysts predict that BlackRock will post 27.07 EPS for the current year.

In related news, insider J. Richard Kushel sold 3,077 shares of the stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $409.29, for a total transaction of $1,259,385.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Laurence Fink sold 30,832 shares of the stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $418.32, for a total transaction of $12,897,642.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,598 shares of company stock worth $48,686,551. 1.75% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLK. WESPAC Advisors SoCal LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at about $25,000. Hanson McClain Inc. raised its holdings in shares of BlackRock by 425.0% in the fourth quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 51 shares during the last quarter. Private Ocean LLC raised its holdings in shares of BlackRock by 620.0% in the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 62 shares during the last quarter. Evolution Wealth Advisors LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at about $33,000. Finally, Legacy Financial Advisors Inc. raised its holdings in shares of BlackRock by 125.6% in the fourth quarter. Legacy Financial Advisors Inc. now owns 88 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 83.64% 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.

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Analyst Recommendations for BlackRock (NYSE:BLK)

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