Shares of BlackRock (NYSE:BLK – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $1,269.0556.
Several equities analysts have recently weighed in on BLK shares. Wall Street Zen upgraded BlackRock from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Barclays lifted their price target on BlackRock from $1,290.00 to $1,310.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. BNP Paribas Exane lifted their price target on BlackRock from $1,290.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,296.00 to $1,380.00 in a research report on Thursday, January 15th. Finally, JPMorgan Chase & Co. reduced their price target on 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.
Check Out Our Latest Stock Analysis on BLK
Trending Headlines about BlackRock
- Positive Sentiment: BlackRock is drawing interest from investors after reports highlighted its new Aladdin private credit features with Preqin, which could strengthen its data and analytics offering in a growing market and support future asset-management revenue. BlackRock (BLK) Valuation Check As New Aladdin Private Credit Features With Preqin Draw Focus
- Positive Sentiment: CEO Larry Fink’s push for clearer crypto and tokenization rules, along with comments that “compute futures” could become a new asset class, reinforces BlackRock’s reputation as an innovation leader in digital assets and next-generation markets. BlackRock CEO Larry Fink Is Demanding Crypto Regulations. Here’s What It Means for Investors.
- Positive Sentiment: BlackRock’s ETF franchise continues to be highlighted as a major competitive advantage, with articles pointing to lower fees, scale, and liquidity benefits that could keep supporting inflows into iShares products. BlackRock Touts ETFs as Liquidity Antidote to Private Exposure
- Neutral Sentiment: BlackRock’s philanthropic $30 million Texas workforce initiative may improve brand and public relations, but it is unlikely to move the stock materially in the near term. BlackRock Launches Signature Philanthropic Initiative in Texas with $30M Commitment to Grow Electrical Workforce
- Negative Sentiment: Recent reports that BlackRock cut the value of parts of its private credit portfolio, including markdowns tied to software borrowers, are a reminder that credit risk remains elevated in a softer lending environment. BlackRock cut private credit fund’s value by 5% in first quarter
- Negative Sentiment: News that a BlackRock Asia private credit fund is trying to recover money from a defaulted China loan adds to concerns about underwriting quality and credit performance in the firm’s private markets business. BlackRock Fund Faces Test in Recovering Defaulted China Loan
Insider Buying and Selling at BlackRock
In related news, COO Robert L. Goldstein sold 54,190 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $1,087.29, for a total transaction of $58,920,245.10. Following the completion of the transaction, the chief operating officer directly owned 51,478 shares in the company, valued at $55,971,514.62. The trade was a 51.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the transaction, the president owned 210,186 shares of the company’s stock, valued at approximately $222,082,527.60. The trade was a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 106,911 shares of company stock valued at $114,670,698 over the last 90 days. Insiders own 1.92% of the company’s stock.
Hedge Funds Weigh In On BlackRock
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in BlackRock by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock worth $15,051,846,000 after buying an additional 221,123 shares in the last quarter. State Street Corp lifted its stake in BlackRock by 0.5% during the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock worth $6,705,193,000 after purchasing an additional 33,752 shares during the last quarter. Corient Private Wealth LLC lifted its stake in BlackRock by 5,190.3% during the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock worth $5,876,618,000 after purchasing an additional 5,386,640 shares during the last quarter. Bank of America Corp DE lifted its stake in BlackRock by 3.0% during the fourth quarter. Bank of America Corp DE now owns 5,197,904 shares of the asset manager’s stock worth $5,563,524,000 after purchasing an additional 149,902 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in BlackRock by 0.3% during the fourth quarter. Capital Research Global Investors now owns 3,838,937 shares of the asset manager’s stock worth $4,108,968,000 after purchasing an additional 12,019 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock Stock Performance
Shares of BLK opened at $1,083.38 on Monday. The firm has a market cap of $168.51 billion, a PE ratio of 27.19, a PEG ratio of 1.39 and a beta of 1.44. The stock’s fifty day moving average price is $1,006.83 and its two-hundred day moving average price is $1,056.97. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 2.98. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94.
BlackRock (NYSE:BLK – Get Free Report) last issued its 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. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The business’s revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the company posted $9.64 earnings per share. On average, equities research analysts forecast that BlackRock will post 52.77 EPS for the current year.
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.
Further Reading
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