BlackRock (NYSE:BLK) Price Target Raised to $1,300.00

Key Points

• BMO Capital Markets raised its price target on BlackRock to $1,300 from $1,250 and kept an outperform rating, implying about 21% upside from the stock’s current price.
• BlackRock shares were down 1.5% on Friday to $1,070.78, even as trading remained active and the company’s valuation and balance-sheet metrics stayed solid.
• The company recently posted a strong quarterly earnings beat, with EPS of $13.91 versus $12.69 expected and revenue of $7.08 billion versus $6.73 billion expected, while analysts continued to lean bullish overall.

BlackRock (NYSE:BLK - Get Free Report) had its price objective raised by stock analysts at BMO Capital Markets from $1,250.00 to $1,300.00 in a research report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the asset manager's stock. BMO Capital Markets' target price indicates a potential upside of 21.41% from the stock's current price.

A number of other brokerages also recently issued reports on BLK. Weiss Ratings upgraded BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Jefferies Financial Group cut their price objective on BlackRock from $1,351.00 to $1,199.00 and set a "buy" rating on the stock in a research report on Wednesday, April 8th. Morgan Stanley boosted their target price on BlackRock from $1,383.00 to $1,488.00 and gave the company an "overweight" rating in a research note on Thursday. JPMorgan Chase & Co. upgraded BlackRock from a "neutral" rating to an "overweight" rating and upped their target price for the company from $1,165.00 to $1,364.00 in a report on Thursday. Finally, Evercore reiterated an "outperform" rating and issued a $1,145.00 price target on shares of BlackRock in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,304.29.

BlackRock Trading Down 1.5%

BLK traded down $16.27 during trading on Friday, hitting $1,070.78. 450,305 shares of the stock traded hands, compared to its average volume of 804,858. The firm has a market capitalization of $165.96 billion, a P/E ratio of 25.64, a price-to-earnings-growth ratio of 1.31 and a beta of 1.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09. The firm has a 50-day moving average of $1,033.96 and a 200 day moving average of $1,042.92. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $12.69 by $1.22. The firm had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 15.01%. The company's revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $12.05 earnings per share. Equities research analysts anticipate that BlackRock will post 54.09 EPS for the current year.

Insider Activity

In other BlackRock news, CEO Laurence Fink sold 33,900 shares of the company's stock in a transaction dated 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 represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the transaction, the president owned 210,186 shares of the company's stock, valued at $222,082,527.60. The trade was a 3.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in shares of BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after acquiring an additional 296 shares during the last quarter. Bison Wealth LLC boosted its stake in BlackRock by 1.6% in the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock worth $1,078,000 after purchasing an additional 17 shares in the last quarter. Schnieders Capital Management LLC. purchased a new stake in BlackRock during the 2nd quarter valued at about $259,000. Nebula Research & Development LLC purchased a new stake in BlackRock during the 2nd quarter valued at about $548,000. Finally, Osterweis Capital Management Inc. bought a new stake in BlackRock during the 2nd quarter valued at about $98,000. Institutional investors own 80.69% of the company's stock.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock posted a very strong Q2, with revenue and EPS both beating expectations and the firm reporting record assets under management of about $15.3 trillion, reinforcing its scale advantage and fee-growth outlook. Blackrock CEO Says Client Demand Has ‘Never Been Greater’ as Assets Reach Record $15.3 Trillion
• Positive Sentiment: Analysts turned more constructive after earnings, including JPMorgan upgrading BlackRock to overweight/buy-equivalent and Bank of America lifting its target, which signals confidence in continued upside from growth engines like private markets, direct indexing, automation, and tokenization. BlackRock's Multiple Growth Engines Keep Wall Street Firmly Bullish
• Positive Sentiment: BlackRock’s iShares business surpassed $6 trillion in assets, and its spot Bitcoin ETF continued to pull in fresh inflows, adding to evidence that the firm is winning market share in both traditional and digital asset products. BlackRock iShares Surpasses $6 Trillion in Assets
• Neutral Sentiment: BlackRock was also the subject of multiple bullish commentary pieces and dividend-focused writeups, which support the stock’s long-term investment case but are less likely to move the shares immediately. BlackRock (BLK) is a Top Dividend Stock Right Now: Should You Buy?
• Neutral Sentiment: BlackRock’s growing role in crypto markets remains a mixed short-term driver: inflows into IBIT are supportive, but headlines about Ethereum outflows and crypto volatility can create noise around sentiment. U.S. Spot Bitcoin ETFs Attract $79M While Ethereum Funds Extend Outflow Streak

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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