Barclays Boosts BlackRock (NYSE:BLK) Price Target to $1,220.00

BlackRock (NYSE:BLK - Get Free Report) had its price objective increased by analysts at Barclays from $990.00 to $1,220.00 in a research note issued on Thursday, MarketBeat Ratings reports. The firm currently has an "overweight" rating on the asset manager's stock. Barclays's price target would suggest a potential upside of 10.54% from the company's previous close.

A number of other equities analysts also recently weighed in on the stock. UBS Group reaffirmed a "neutral" rating and set a $980.00 target price on shares of BlackRock in a research note on Tuesday. 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. Morgan Stanley restated an "overweight" rating and set a $1,164.00 price target on shares of BlackRock in a report on Tuesday. Argus restated a "buy" rating on shares of BlackRock in a report on Tuesday. Finally, Wall Street Zen upgraded BlackRock to a "hold" rating in a report on Saturday, May 24th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,132.29.

BlackRock Stock Up 1.4%

BLK traded up $14.95 during trading on Thursday, reaching $1,103.70. The stock had a trading volume of 467,479 shares, compared to its average volume of 694,080. The stock's 50 day moving average is $993.20 and its two-hundred day moving average is $971.28. 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 company has a market capitalization of $170.99 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 3.25 and a beta of 1.41. BlackRock has a one year low of $773.74 and a one year high of $1,107.19.

BlackRock (NYSE:BLK - Get Free Report) last announced its 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 business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter last year, the firm earned $9.81 earnings per share. The business's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts expect that BlackRock will post 47.41 earnings per share for the current year.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on 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 completion of the sale, the director owned 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.98% of the company's stock.

Institutional Investors Weigh In On BlackRock

Large investors have recently made changes to their positions in the company. IAG Wealth Partners LLC bought a new stake in shares of BlackRock during the 4th quarter valued at about $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 valued at $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 valued at $28,000 after purchasing an additional 15 shares during the period. Garde Capital Inc. grew its stake in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock valued at $28,000 after purchasing an additional 18 shares during the period. Finally, Investment Management Corp VA ADV bought a new stake in shares of BlackRock during the 4th quarter valued at $30,000. 80.69% of the stock is currently owned by institutional investors.

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.