BlackRock (BLK) Stock Rating Reaffirmed by Barclays

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BlackRock (NYSE:BLK)‘s stock had its “buy” rating reissued by research analysts at Barclays in a research note issued to investors on Thursday.

Several other equities research analysts have also recently commented on BLK. Deutsche Bank increased their price target on BlackRock from $549.00 to $559.00 and gave the company a “buy” rating in a report on Thursday, September 27th. JPMorgan Chase & Co. raised BlackRock to an “overweight” rating in a report on Tuesday, October 9th. Morgan Stanley cut their price target on BlackRock from $607.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, October 9th. UBS Group cut their price target on BlackRock from $575.00 to $565.00 and set a “buy” rating for the company in a report on Monday, October 8th. Finally, Wells Fargo & Co cut their price target on BlackRock from $545.00 to $510.00 and set a “market perform” rating for the company in a report on Thursday, October 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. BlackRock has an average rating of “Buy” and a consensus target price of $513.08.

Shares of BlackRock stock traded down $1.59 during mid-day trading on Thursday, reaching $397.91. 697,158 shares of the stock traded hands, compared to its average volume of 692,232. BlackRock has a fifty-two week low of $360.79 and a fifty-two week high of $594.52. The stock has a market capitalization of $63.11 billion, a P/E ratio of 17.61, a PEG ratio of 1.39 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.07 and a quick ratio of 3.07.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, October 16th. The asset manager reported $7.52 EPS for the quarter, beating analysts’ consensus estimates of $6.93 by $0.59. BlackRock had a return on equity of 13.72% and a net margin of 39.92%. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the prior year, the firm earned $5.76 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts anticipate that BlackRock will post 27.63 EPS for the current fiscal year.

In other BlackRock news, Director J. Richard Kushel sold 2,100 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $419.11, for a total transaction of $880,131.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William E. Ford bought 2,000 shares of the business’s stock in a transaction on Wednesday, October 17th. The shares were acquired at an average cost of $409.59 per share, with a total value of $819,180.00. Following the purchase, the director now owns 7,466 shares of the company’s stock, valued at $3,057,998.94. The disclosure for this purchase can be found here. 1.75% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLK. Renaissance Technologies LLC boosted its position in shares of BlackRock by 655.0% during the second quarter. Renaissance Technologies LLC now owns 105,700 shares of the asset manager’s stock worth $52,749,000 after buying an additional 91,700 shares during the period. Voya Investment Management LLC boosted its position in shares of BlackRock by 1.8% during the second quarter. Voya Investment Management LLC now owns 63,849 shares of the asset manager’s stock worth $31,863,000 after buying an additional 1,138 shares during the period. OLD Mission Capital LLC purchased a new position in shares of BlackRock during the second quarter worth $299,000. Flagship Harbor Advisors LLC purchased a new position in shares of BlackRock during the second quarter worth $240,000. Finally, Paloma Partners Management Co purchased a new position in shares of BlackRock during the second quarter worth $4,142,000. Institutional investors and hedge funds own 82.43% of the company’s stock.

About BlackRock

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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Analyst Recommendations for BlackRock (NYSE:BLK)

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