BlackRock (NYSE:BLK) Price Target Raised to $1,210.00 at Jefferies Financial Group

BlackRock (NYSE:BLK - Get Free Report) had its price target hoisted by equities research analysts at Jefferies Financial Group from $959.00 to $1,210.00 in a report issued on Thursday,BayStreet.CA reports. Jefferies Financial Group's price target indicates a potential upside of 9.93% from the stock's previous close.

A number of other research analysts have also issued reports on the stock. Citigroup dropped their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Barclays increased their price objective on BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a report on Thursday. Argus restated a "buy" rating on shares of BlackRock in a report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and a consensus target price of $1,132.29.

BlackRock Stock Performance

Shares of NYSE:BLK traded up $11.96 during trading on Thursday, reaching $1,100.71. 213,410 shares of the stock were exchanged, compared to its average volume of 692,417. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,104.98. The firm has a market cap of $170.53 billion, a PE ratio of 26.76, a PEG ratio of 3.20 and a beta of 1.41. The stock has a 50-day moving average price of $989.46 and a 200-day moving average price of $970.84. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the previous year, the business earned $9.81 earnings per share. The firm's quarterly revenue was up 11.6% on a year-over-year basis. Research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the sale, the director owned 66,034 shares in the company, valued at $60,256,025. This represents a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BlackRock

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Security National Bank increased its stake in BlackRock by 0.3% in the 2nd quarter. Security National Bank now owns 7,053 shares of the asset manager's stock valued at $7,400,000 after buying an additional 18 shares during the last quarter. YHB Investment Advisors Inc. increased its stake in BlackRock by 2.2% in the 2nd quarter. YHB Investment Advisors Inc. now owns 3,140 shares of the asset manager's stock valued at $3,292,000 after buying an additional 68 shares during the last quarter. Rockland Trust Co. grew its position in shares of BlackRock by 0.4% during the 2nd quarter. Rockland Trust Co. now owns 27,105 shares of the asset manager's stock valued at $28,440,000 after acquiring an additional 97 shares during the period. Peoples Bank KS bought a new position in shares of BlackRock during the 2nd quarter valued at approximately $358,000. Finally, Exchange Traded Concepts LLC grew its position in shares of BlackRock by 44.8% during the 2nd quarter. Exchange Traded Concepts LLC now owns 4,308 shares of the asset manager's stock valued at $4,520,000 after acquiring an additional 1,332 shares during the period. Institutional investors and hedge funds 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.

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