BNP Paribas Exane Forecasts Strong Price Appreciation for BlackRock (NYSE:BLK) Stock

Key Points

• BNP Paribas Exane has raised its price target for BlackRock stock from $1,160 to $1,265, indicating a potential upside of 7.76% based on the stock's previous close.
• Analysts show strong confidence in BlackRock, with one Strong Buy rating, fifteen Buy ratings, and an average price target of $1,258.56.
• BlackRock reported earnings of $12.05 EPS for the last quarter, surpassing expectations and marking a 12.9% revenue growth compared to the same quarter last year.

BlackRock (NYSE:BLK - Get Free Report) had its price objective boosted by analysts at BNP Paribas Exane from $1,160.00 to $1,265.00 in a research note issued to investors on Thursday,MarketScreener reports. The brokerage presently has an "outperform" rating on the asset manager's stock. BNP Paribas Exane's price target would suggest a potential upside of 7.76% from the stock's previous close.

A number of other equities research analysts have also recently commented on the stock. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Barclays raised their target price on shares of BlackRock from $1,210.00 to $1,310.00 and gave the stock an "overweight" rating in a research note on Wednesday. Jefferies Financial Group lifted their price objective on shares of BlackRock from $1,196.00 to $1,325.00 and gave the company a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $1,093.00 to $1,242.00 and gave the company a "neutral" rating in a research report on Thursday, October 2nd. Finally, Zacks Research cut shares of BlackRock from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,258.56.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,173.94 on Thursday. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,184.13. The stock has a market capitalization of $181.79 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.21 and a beta of 1.45. The firm's 50 day moving average price is $1,134.03 and its 200-day moving average price is $1,033.55. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter last year, the business earned $10.36 EPS. The firm's revenue was up 12.9% compared to the same quarter last year. Equities research analysts expect that BlackRock will post 47.41 EPS for the current year.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the transaction, the director directly owned 19,205 shares of the company's stock, valued at $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the transaction, the director directly owned 61,369 shares of the company's stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,494 shares of company stock worth $74,694,573. Company insiders own 1.98% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Securian Asset Management Inc. purchased a new position in BlackRock during the first quarter worth $7,331,000. Prudent Man Advisors LLC purchased a new stake in shares of BlackRock during the first quarter valued at $2,018,000. Allianz SE boosted its stake in shares of BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager's stock valued at $10,435,000 after purchasing an additional 277 shares during the period. Arizona State Retirement System purchased a new stake in shares of BlackRock during the first quarter valued at $40,868,000. Finally, Community Financial Services Group LLC lifted its stake in BlackRock by 17.2% in the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock worth $5,397,000 after acquiring an additional 836 shares during the period. 80.69% of the stock is owned by hedge funds and other 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.

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