BlackRock (NYSE:BLK) Given New $1,340.00 Price Target at Barclays

Key Points

• Barclays raised its price target on BlackRock from $1,310 to $1,340 and kept an overweight rating, implying about 34.5% upside from the current share price.
• Other analysts remain broadly positive on BLK, with several firms recently lifting targets; the stock now carries a Moderate Buy consensus and a $1,271.11 average price target.
• BlackRock’s latest earnings beat expectations, with quarterly EPS of $12.53 on revenue of $6.70 billion, while insiders Robert Kapito and Larry Fink recently sold shares.

BlackRock (NYSE:BLK - Get Free Report) had its price target hoisted by Barclays from $1,310.00 to $1,340.00 in a report released on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the asset manager's stock. Barclays's target price indicates a potential upside of 34.51% from the company's current price.

Several other equities research analysts also recently weighed in on the stock. BMO Capital Markets increased their target price on shares of BlackRock from $1,200.00 to $1,250.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Morgan Stanley upped their price target on BlackRock from $1,393.00 to $1,430.00 and gave the stock an "overweight" rating in a research note on Friday, June 26th. BNP Paribas Exane increased their price target on BlackRock from $1,300.00 to $1,350.00 and gave the stock an "outperform" rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. lowered their price objective on shares of BlackRock from $1,269.00 to $1,128.00 and set a "neutral" rating on the stock in a research report on Monday, April 13th. Finally, The Goldman Sachs Group upped their price objective on shares of BlackRock from $1,181.00 to $1,313.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,271.11.

BlackRock Price Performance

Shares of NYSE BLK opened at $996.22 on Thursday. The stock has a market cap of $154.64 billion, a P/E ratio of 24.99, a P/E/G ratio of 1.30 and a beta of 1.43. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The stock has a 50 day moving average of $1,035.08 and a two-hundred day moving average of $1,044.39. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $12.40 by $0.13. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The company's revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period last year, the firm posted $9.64 earnings per share. On average, research analysts forecast that BlackRock will post 53.45 earnings per share for the current year.

Insider Activity at BlackRock

In related news, President Robert Kapito sold 8,739 shares of the company's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the sale, the president owned 210,186 shares of the company's stock, valued at approximately $222,082,527.60. This represents a 3.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 33,900 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the sale, the chief executive officer owned 230,516 shares in the company, valued at approximately $242,168,583.80. This trade represents a 12.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.92% of the company's stock.

Institutional Investors Weigh In On BlackRock

Several hedge funds have recently modified their holdings of BLK. Brighton Jones LLC lifted its stake in shares of BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after purchasing an additional 296 shares during the period. Bison Wealth LLC grew its position in shares of BlackRock by 1.6% in the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock valued at $1,078,000 after purchasing an additional 17 shares during the period. Schnieders Capital Management LLC. acquired a new position in BlackRock in the second quarter valued at $259,000. Nebula Research & Development LLC purchased a new position in BlackRock during the second quarter worth about $548,000. Finally, Osterweis Capital Management Inc. acquired a new stake in BlackRock in the 2nd quarter worth about $98,000. 80.69% of the stock is owned by institutional investors and hedge funds.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: UBS reiterated a Buy rating on BlackRock and kept a $1,270 target, saying strong ETF demand and resilient earnings should support the stock. BlackRock: Buy Rating Reiterated as Resilient Earnings and ETF Demand Support Unchanged $1,270 Target
• Positive Sentiment: Analysts are expecting BlackRock’s upcoming quarterly report to show earnings growth, reinforcing hopes for another solid beat. BlackRock (BLK) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
• Positive Sentiment: BlackRock is expanding its ETF lineup with a lower-cost Nasdaq-100 fund, which could help attract more assets and fee revenue over time. BlackRock to launch Nasdaq-100 ETF, challenging Invesco's dominance as AI rally boosts demand
• Positive Sentiment: BlackRock also said its Aladdin platform is expanding private-markets benchmarking tools, a sign of continued product development in higher-growth areas. BlackRock Aladdin Expands Preqin Benchmarks and Indices, Advancing Transparency in Private Markets With Common Performance Measurement Standard
• Neutral Sentiment: BlackRock reported a change in shareholding at Caledonia Mining, reflecting ongoing portfolio adjustments rather than a clear direct catalyst for BLK. Caledonia Mining Corporation Plc: Notification of Relevant Change to Significant Shareholder
• Neutral Sentiment: Rick Rieder said BlackRock has reduced equity exposure somewhat, but remained constructive on AI-related investing and broader market positioning. Reduced decent amount of exposure in equities: BlackRock's Rick Rieder
• Negative Sentiment: BlackRock shares may still face pressure from weakness across financial stocks and some caution ahead of earnings, which can cap near-term upside. Sector Update: Financial Stocks Decline in Afternoon Trading

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.

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