BlackRock (NYSE:BLK) Price Target Raised to $1,105.00 at Wells Fargo & Company

BlackRock (NYSE:BLK - Get Free Report) had its price target lifted by investment analysts at Wells Fargo & Company from $1,035.00 to $1,105.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the asset manager's stock. Wells Fargo & Company's price objective suggests a potential upside of 12.28% from the company's previous close.

BLK has been the subject of several other reports. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. Citigroup lowered their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Morgan Stanley cut their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. UBS Group cut their price target on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Barclays increased their price objective on shares of BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,082.46.

BlackRock Price Performance

Shares of BlackRock stock traded down $4.79 during trading hours on Wednesday, reaching $984.18. The company's stock had a trading volume of 479,363 shares, compared to its average volume of 688,618. The firm has a 50 day moving average price of $923.63 and a 200-day moving average price of $974.25. BlackRock has a one year low of $752.30 and a one year high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The stock has a market cap of $152.48 billion, a P/E ratio of 23.43, a P/E/G ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $9.81 EPS. On average, analysts predict that BlackRock will post 47.41 EPS for the current year.

Insider Activity 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 shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now owns 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.98% of the company's stock.

Institutional Trading of BlackRock

Several institutional investors and hedge funds have recently bought and sold shares of the business. IAG Wealth Partners LLC acquired a new position in shares of BlackRock during the 4th quarter worth $26,000. Fairway Wealth LLC grew its stake in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 13 shares during the period. Game Plan Financial Advisors LLC grew its stake in shares of BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 15 shares during the period. Investment Management Corp VA ADV acquired a new position in shares of BlackRock during the 4th quarter worth $30,000. Finally, Cheviot Value Management LLC acquired a new stake in BlackRock in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Company Profile

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.