BlackRock (NYSE:BLK) Price Target Raised to $890.00 at Wells Fargo & Company


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BlackRock (NYSE:BLK) had its target price hoisted by analysts at Wells Fargo & Company from $875.00 to $890.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 10.55% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $437.00 to $847.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley upped their price target on shares of BlackRock from $890.00 to $924.00 and gave the stock an “overweight” rating in a report on Thursday, April 8th. Zacks Investment Research downgraded shares of BlackRock from a “buy” rating to a “hold” rating and set a $733.00 price target for the company. in a report on Monday, December 21st. Barclays boosted their price objective on shares of BlackRock from $800.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, January 15th. Finally, BMO Capital Markets boosted their price objective on shares of BlackRock from $709.00 to $715.00 and gave the stock a “market perform” rating in a research note on Friday, January 15th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $740.91.

BLK traded down $2.95 during trading on Tuesday, hitting $805.03. 11,777 shares of the stock traded hands, compared to its average volume of 698,739. BlackRock has a twelve month low of $440.00 and a twelve month high of $810.62. The company has a market cap of $122.87 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.88 and a beta of 1.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.01 and a quick ratio of 1.02. The business has a 50 day moving average price of $734.26 and a 200 day moving average price of $694.98.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 13th. The asset manager reported $10.18 EPS for the quarter, beating the consensus estimate of $9.14 by $1.04. BlackRock had a net margin of 30.43% and a return on equity of 15.74%. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the business earned $8.34 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. On average, equities research analysts predict that BlackRock will post 36.68 earnings per share for the current year.

In other news, COO Robert L. Goldstein sold 1,775 shares of the company’s stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $735.85, for a total transaction of $1,306,133.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Gary Shedlin sold 3,206 shares of the company’s stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $730.41, for a total transaction of $2,341,694.46. The disclosure for this sale can be found here. Insiders have sold 40,418 shares of company stock worth $29,492,515 in the last ninety days. Insiders own 1.42% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. McCarthy Asset Management Inc. acquired a new stake in shares of BlackRock in the 4th quarter worth about $25,000. Sittner & Nelson LLC acquired a new stake in shares of BlackRock in the 4th quarter worth about $25,000. Birch Capital Management LLC acquired a new stake in shares of BlackRock in the 1st quarter worth about $26,000. Baron Silver Stevens Financial Advisors LLC acquired a new stake in shares of BlackRock in the 4th quarter worth about $35,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in shares of BlackRock in the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 79.10% 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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