BlackRock (NYSE:BLK) had its price objective lifted by research analysts at Citigroup to $625.00 in a report issued on Tuesday, The Fly reports. The firm currently has a “buy” rating on the asset manager’s stock. Citigroup’s price target suggests a potential upside of 8.41% from the stock’s current price.
Several other brokerages have also recently commented on BLK. Jefferies Group upped their target price on BlackRock to $565.00 and gave the company a “hold” rating in a report on Monday. Credit Suisse Group reiterated a “buy” rating and issued a $680.00 target price on shares of BlackRock in a report on Friday, January 12th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 target price on the stock in a report on Thursday, January 11th. Wells Fargo & Co reiterated a “market perform” rating and issued a $475.00 target price (up from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Finally, JPMorgan Chase & Co. upped their target price on BlackRock to $558.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. BlackRock presently has a consensus rating of “Buy” and a consensus target price of $547.92.
BlackRock (NYSE:BLK) traded up $13.51 during trading hours on Tuesday, hitting $576.51. The stock had a trading volume of 983,900 shares, compared to its average volume of 682,127. The company has a market capitalization of $93,460.00, a PE ratio of 19.03, a P/E/G ratio of 1.54 and a beta of 1.81. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. BlackRock has a 52 week low of $365.83 and a 52 week high of $578.63.
In other BlackRock news, Director Susan Wagner sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total value of $2,024,400.00. Following the transaction, the director now directly owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeff A. Smith sold 100 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $477.54, for a total value of $47,754.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,525 shares of company stock worth $2,312,687. Insiders own 1.86% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Oakbrook Investments LLC acquired a new position in BlackRock in the fourth quarter valued at approximately $2,877,000. Acadian Asset Management LLC lifted its stake in BlackRock by 284.8% in the fourth quarter. Acadian Asset Management LLC now owns 2,778 shares of the asset manager’s stock valued at $1,427,000 after buying an additional 2,056 shares during the period. Berkshire Asset Management LLC PA lifted its stake in BlackRock by 33.0% in the fourth quarter. Berkshire Asset Management LLC PA now owns 899 shares of the asset manager’s stock valued at $462,000 after buying an additional 223 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in BlackRock by 4.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 437,350 shares of the asset manager’s stock valued at $224,672,000 after buying an additional 19,152 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in BlackRock by 10.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 960 shares of the asset manager’s stock valued at $493,000 after buying an additional 93 shares during the period. 83.55% of the stock is currently owned by hedge funds and other institutional investors.
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BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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