Barclays Issues Positive Forecast for BlackRock (NYSE:BLK) Stock Price

BlackRock (NYSE:BLK - Get Free Report) had its target price hoisted by equities research analysts at Barclays from $990.00 to $1,220.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has an "overweight" rating on the asset manager's stock. Barclays's price objective points to a potential upside of 10.64% from the company's current price.

Other equities research analysts have also recently issued reports about the company. Argus reaffirmed a "buy" rating on shares of BlackRock in a report on Tuesday. UBS Group reaffirmed a "neutral" rating and set a $980.00 price target on shares of BlackRock in a report on Tuesday. Wall Street Zen raised BlackRock to a "hold" rating in a report on Saturday, May 24th. Wells Fargo & Company reiterated an "overweight" rating on shares of BlackRock in a research report on Tuesday. Finally, Citigroup reduced their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, BlackRock has an average rating of "Moderate Buy" and an average target price of $1,132.29.

BlackRock Stock Performance

BLK traded down $1.42 on Thursday, hitting $1,102.63. 545,380 shares of the stock traded hands, compared to its average volume of 693,487. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,106.39. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $170.83 billion, a PE ratio of 26.79, a P/E/G ratio of 3.25 and a beta of 1.41. The business has a fifty day moving average price of $993.20 and a two-hundred day moving average price of $971.28.

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

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated 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 sale, the director owned 66,034 shares of the company's stock, valued at $60,256,025. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackRock

Several hedge funds have recently modified their holdings of the stock. McLean Asset Management Corp increased its holdings in shares of BlackRock by 3.9% during the 2nd quarter. McLean Asset Management Corp now owns 266 shares of the asset manager's stock valued at $285,000 after purchasing an additional 10 shares in the last quarter. Trust Co. of Oklahoma raised its holdings in BlackRock by 0.5% in the 2nd quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager's stock valued at $2,123,000 after acquiring an additional 10 shares during the last quarter. Mascoma Wealth Management LLC raised its holdings in BlackRock by 9.5% in the 4th quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock valued at $130,000 after acquiring an additional 11 shares during the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of BlackRock by 2.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after buying an additional 11 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of BlackRock by 4.5% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock worth $263,000 after buying an additional 11 shares during the last quarter. 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.