BlackRock (NYSE:BLK) Price Target Lowered to $1,224.00 at Keefe, Bruyette & Woods

BlackRock (NYSE:BLK - Get Free Report) had its price target dropped by analysts at Keefe, Bruyette & Woods from $1,247.00 to $1,224.00 in a research note issued on Wednesday, Marketbeat.com reports. The firm currently has an "outperform" rating on the asset manager's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 10.48% from the stock's previous close.

Several other research firms have also recently commented on BLK. Argus restated a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Jefferies Financial Group upped their price objective on shares of BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Wells Fargo & Company reiterated an "overweight" rating on shares of BlackRock in a research report on Tuesday, July 8th. Bank of America decreased their price target on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Finally, TD Cowen dropped their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,151.21.

BlackRock Price Performance

BLK stock traded up $25.62 during mid-day trading on Wednesday, reaching $1,107.86. 911,069 shares of the company traded hands, compared to its average volume of 701,643. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,112.13. The company has a market capitalization of $171.64 billion, a P/E ratio of 26.80, a P/E/G ratio of 2.12 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The company has a fifty day moving average price of $1,006.37 and a 200-day moving average price of $972.22.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. The business had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company posted $10.36 EPS. As a group, analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the sale, the director owned 66,034 shares in the company, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BLK. Garde Capital Inc. lifted its holdings in BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock worth $28,000 after buying an additional 18 shares during the period. Investment Management Corp VA ADV bought a new position in shares of BlackRock during the fourth quarter valued at approximately $30,000. Fairway Wealth LLC lifted its stake in BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after acquiring an additional 13 shares during the period. Game Plan Financial Advisors LLC boosted its holdings in BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock valued at $28,000 after acquiring an additional 15 shares in the last quarter. Finally, MorganRosel Wealth Management LLC purchased a new position in BlackRock during the 1st quarter valued at $31,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

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.