BlackRock (NYSE:BLK) Price Target Raised to $1,240.00

BlackRock (NYSE:BLK) had its target price raised by investment analysts at Keefe, Bruyette & Woods from $1,150.00 to $1,240.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 17.60% from the stock’s current price.

Other research analysts have also issued reports about the company. BMO Capital Markets reduced their price target on BlackRock from $1,300.00 to $1,200.00 and set an “outperform” rating for the company in a research report on Friday, April 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of BlackRock in a report on Wednesday. Evercore reissued an “outperform” rating and set a $1,220.00 price target on shares of BlackRock in a research report on Wednesday. Jefferies Financial Group cut their price objective on shares of BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Finally, BNP Paribas Exane increased their target price on shares of BlackRock from $1,290.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,255.89.

BlackRock Trading Down 0.0%

NYSE BLK opened at $1,054.44 on Wednesday. BlackRock has a one year low of $845.82 and a one year high of $1,219.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market capitalization of $164.01 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 1.42 and a beta of 1.48. The company’s 50-day simple moving average is $1,013.76 and its two-hundred day simple moving average is $1,069.03.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.40 by $0.13. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.56 billion. BlackRock had a net margin of 22.93% and a return on equity of 14.78%. The company’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period last year, the firm earned $9.64 earnings per share. Equities analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Buying and Selling at BlackRock

In related news, COO Robert L. Goldstein sold 54,190 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were 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 owned 51,478 shares of the company’s stock, valued at $55,971,514.62. This trade represents a 51.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Martin Small sold 27,047 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 10,557 shares in the company, valued at $12,363,724.98. The trade was a 71.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 111,319 shares of company stock valued at $123,999,249. 1.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackRock

Several institutional investors and hedge funds have recently modified their holdings of BLK. Pacifica Partners Inc. increased its stake in shares of BlackRock by 450.0% during the third quarter. Pacifica Partners Inc. now owns 22 shares of the asset manager’s stock worth $25,000 after purchasing an additional 18 shares in the last quarter. TruNorth Capital Management LLC increased its stake in BlackRock by 1,000.0% during the 3rd quarter. TruNorth Capital Management LLC now owns 22 shares of the asset manager’s stock worth $26,000 after buying an additional 20 shares in the last quarter. Evolution Wealth Management Inc. purchased a new stake in BlackRock during the 4th quarter worth approximately $26,000. Birchbrook Inc. acquired a new position in shares of BlackRock during the fourth quarter valued at approximately $31,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in BlackRock in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Q1 earnings beat and financials — BlackRock reported stronger?than?expected Q1 results (EPS $12.53; revenue $6.7B), rising net income and a larger dividend, driven by higher investment and performance fees. This is the primary driver of today’s upside. Read More.
• Positive Sentiment: Record ETF and net inflows — iShares/ETF inflows fueled $130bn in net client inflows and AUM near $13.9T, supporting fee growth and margins. That flow momentum underpins optimism about recurring revenue. Read More.
• Positive Sentiment: Management outlook — BlackRock management flagged opportunity in private credit and reiterated a bullish view on U.S. stocks and AI?related themes, suggesting multiple growth levers beyond passive ETF flows. Read More.
• Neutral Sentiment: Risk?management advice for clients — BlackRock’s hedge?fund team is advising investors to diversify hedge?fund exposures amid faster market swings from AI/geopolitics; this is thought?leadership rather than a direct earnings mover. Read More.
• Neutral Sentiment: Volatility expectations — Options traders had been pricing a sizable move around earnings (expected swings), which can amplify intraday moves but does not change fundamentals. Read More.
• Negative Sentiment: Analyst downward adjustment — JPMorgan trimmed BlackRock’s price target and kept a neutral rating, which can cap upside and signal more cautious sentiment among institutional analysts. Read More.
• Negative Sentiment: Investor litigation inquiry — A Pomerantz LLP investor investigation was announced, creating a legal/PR overhang that could weigh on sentiment until clarified. Read More.
• Negative Sentiment: Analyst caution on exposure — Some commentators flag private?credit exposure and higher expenses as reasons for caution despite the beat, which could limit multiple expansion. Read More.

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.