BlackRock (NYSE:BLK) Stock Gets Price Target Bump from Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised BlackRock’s price target to $1,310 from $1,290 while maintaining an “outperform” rating, implying 21.85% upside. The stock has a “Moderate Buy” consensus rating and an average target of $1,308.62.
• BlackRock exceeded quarterly expectations, reporting $15.93 in EPS versus $14.32 expected and $7.75 billion in revenue, up 19.1% year over year. The company also benefited from $205 billion in net inflows and record assets under management of $15.49 trillion.
• Risks remain around valuation and market conditions: BlackRock is trading near the upper end of its 52-week range, while management has reduced U.S. equity exposure in favor of Treasuries amid concerns about interest-rate expectations.

BlackRock (NYSE:BLK - Get Free Report) had its price target hoisted by stock analysts at Keefe, Bruyette & Woods from $1,290.00 to $1,310.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an "outperform" rating on the asset manager's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 21.85% from the stock's current price.

A number of other research analysts have also commented on BLK. BNP Paribas Exane upped their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a report on Tuesday, June 23rd. Weiss Ratings downgraded BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Morgan Stanley dropped their target price on BlackRock from $1,479.00 to $1,468.00 and set an "overweight" rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $1,258.00 target price on shares of BlackRock in a research report on Thursday, July 16th. Finally, Zacks Research downgraded shares of BlackRock from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,308.62.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,075.09 on Thursday. The firm has a market cap of $166.50 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.41. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94. The business's 50 day moving average is $1,106.43 and its 200-day moving average is $1,061.02.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, topping the consensus estimate of $14.32 by $1.61. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.42 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%. The firm's revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period last year, the firm posted $8.43 EPS. Equities research analysts predict that BlackRock will post 55.70 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. RMG Wealth Management LLC bought a new stake in shares of BlackRock during the first quarter valued at approximately $25,000. Addison Advisors LLC bought a new position in shares of BlackRock in the 2nd quarter worth $25,000. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of BlackRock in the 2nd quarter worth $25,000. Meeder Asset Management Inc. bought a new position in shares of BlackRock in the 2nd quarter worth $30,000. Finally, Wilkerson Advisory Group LLC grew its position in BlackRock by 100.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 34 shares of the asset manager's stock valued at $33,000 after purchasing an additional 17 shares during the period. Institutional investors own 80.69% of the company's stock.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Quarterly beat and strong inflows: BlackRock reported adjusted EPS of $15.93, above the $14.32 consensus estimate, while revenue rose 19.1% year over year to $7.75 billion. Net inflows reached $205 billion, including $135 billion into ETFs, helping push assets under management to a record $15.49 trillion. BlackRock profit jumps as resilient markets boost fees
• Positive Sentiment: Growth outlook remains constructive: Management pointed to continued momentum in iShares ETFs, private-markets fundraising, technology revenue and performance fees. BlackRock’s crypto ETF assets also reportedly climbed 63% to approximately $80 billion, adding to fee-growth potential. BlackRock expects strong fourth quarter
• Positive Sentiment: Analyst price target raised: Bank of America reiterated a Buy rating and increased its price target from $1,287 to $1,313, citing strong third-quarter results and surging ETF inflows. BlackRock earns Buy rating and higher price target
• Neutral Sentiment: Strategic expansion: BlackRock is deploying capital across private markets, including a $2.8 billion CenterWell clinic joint venture with Humana and investments in technology and infrastructure. These moves broaden long-term fee opportunities but may require significant capital and execution. Humana forms joint venture with BlackRock
• Negative Sentiment: Rate and valuation risks: BlackRock has reduced U.S. stock exposure and favored Treasuries, warning that markets may be pricing in too many Federal Reserve rate hikes. Other commentary highlights emerging yield risks, while the stock’s elevated valuation could limit upside if markets weaken. BlackRock cuts U.S. stock exposure

BlackRock Company Profile

BlackRock, Inc is a global investment management and financial technology company serving individual investors, institutions, governments and financial professionals. The company provides investment management, risk management and advisory services across a broad range of asset classes, including equities, fixed income, multi-asset strategies, alternatives and cash management.

BlackRock offers investment products through mutual funds, exchange-traded funds and other vehicles. Its iShares brand is one of the company's principal platforms for exchange-traded funds, providing access to domestic and international markets, industry sectors, bonds, commodities and specialized investment strategies.

The company also provides technology and analytical solutions through its Aladdin platform, which is used by asset managers, institutional investors and other financial organizations for portfolio management, risk analysis, trading and operational support.

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