BlackRock (NYSE:BLK) Price Target Raised to $1,250.00 at CICC Research

BlackRock (NYSE:BLK) had its target price increased by investment analysts at CICC Research from $1,000.00 to $1,250.00 in a report issued on Tuesday,MarketScreener reports. CICC Research’s target price suggests a potential upside of 13.52% from the company’s current price.

BLK has been the topic of a number of other research reports. Freedom Capital upgraded shares of BlackRock from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. UBS Group set a $1,280.00 target price on shares of BlackRock in a report on Friday, January 16th. Evercore ISI decreased their price target on BlackRock from $1,300.00 to $1,275.00 and set an “outperform” rating for the company in a report on Monday, January 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of BlackRock in a research note on Monday, December 29th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $1,313.00 target price on shares of BlackRock in a research report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,311.11.

BlackRock Trading Down 1.7%

NYSE:BLK traded down $18.56 during trading hours on Tuesday, hitting $1,101.10. 48,198 shares of the company were exchanged, compared to its average volume of 722,677. The stock has a market capitalization of $170.84 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 1.40 and a beta of 1.47. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The company has a fifty day simple moving average of $1,090.17 and a 200 day simple moving average of $1,108.35. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.34.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Thursday, January 15th. The asset manager reported $13.16 earnings per share for the quarter, beating the consensus estimate of $12.55 by $0.61. The company had revenue of $6.33 billion during the quarter, compared to analysts’ expectations of $6.80 billion. BlackRock had a return on equity of 15.14% and a net margin of 22.93%.The business’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $11.93 earnings per share. Sell-side analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 20,000 shares of BlackRock stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $1,125.00, for a total transaction of $22,500,000.00. Following the transaction, the director owned 61,894 shares of the company’s stock, valued at $69,630,750. This trade represents a 24.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin Small sold 27,047 shares of the business’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $1,171.14, for a total value of $31,675,823.58. Following the completion of the transaction, the chief financial officer directly owned 10,557 shares in the company, valued at approximately $12,363,724.98. This represents a 71.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,305 shares of company stock valued at $55,488,396 over the last ninety days. 1.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BlackRock

Institutional investors have recently bought and sold shares of the company. Welch Group LLC grew its stake in shares of BlackRock by 1.2% during the 2nd quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock worth $797,000 after acquiring an additional 9 shares during the period. Stanley Laman Group Ltd. lifted its holdings in BlackRock by 2.7% during the second quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock valued at $357,000 after purchasing an additional 9 shares during the last quarter. CNB Bank boosted its position in BlackRock by 9.6% during the second quarter. CNB Bank now owns 103 shares of the asset manager’s stock worth $108,000 after purchasing an additional 9 shares during the period. Magellan Asset Management Ltd increased its stake in shares of BlackRock by 14.3% in the second quarter. Magellan Asset Management Ltd now owns 72 shares of the asset manager’s stock worth $76,000 after purchasing an additional 9 shares in the last quarter. Finally, FAS Wealth Partners Inc. lifted its stake in shares of BlackRock by 1.1% during the 2nd quarter. FAS Wealth Partners Inc. now owns 817 shares of the asset manager’s stock valued at $857,000 after buying an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

About BlackRock

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.