Deutsche Bank Aktiengesellschaft Raises BlackRock (NYSE:BLK) Price Target to $1,300.00

Key Points

• Deutsche Bank Aktiengesellschaft raised BlackRock's price target from $1,221.00 to $1,300.00, indicating a potential upside of 11.99% from the current stock price.
• BlackRock's stock recently traded down 0.4%, reaching $1,160.83, compared to its average volume which is substantially higher, at 714,337 shares.
• Despite some analysts lowering their price targets, several firms, including Citigroup and Barclays, have increased their targets, reflecting mixed market sentiment regarding the stock.

BlackRock (NYSE:BLK - Get Free Report) had its price target hoisted by equities research analysts at Deutsche Bank Aktiengesellschaft from $1,221.00 to $1,300.00 in a research report issued on Thursday,MarketScreener reports. The brokerage currently has a "buy" rating on the asset manager's stock. Deutsche Bank Aktiengesellschaft's price target would suggest a potential upside of 11.99% from the company's current price.

A number of other analysts have also recently commented on BLK. Wells Fargo & Company dropped their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. BMO Capital Markets started coverage on shares of BlackRock in a research report on Friday, October 3rd. They set an "outperform" rating and a $1,280.00 price target for the company. Barclays upped their price target on BlackRock from $1,210.00 to $1,310.00 and gave the stock an "overweight" rating in a research note on Wednesday. Citigroup upped their price objective on BlackRock from $1,200.00 to $1,350.00 and gave the stock a "buy" rating in a report on Monday, September 29th. Finally, Morgan Stanley increased their price target on BlackRock from $1,224.00 to $1,362.00 and gave the company an "overweight" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,258.13.

BlackRock Stock Down 0.4%

Shares of BlackRock stock traded down $4.17 during trading on Thursday, reaching $1,160.83. 40,306 shares of the company traded hands, compared to its average volume of 714,337. The company has a 50 day moving average price of $1,132.82 and a 200-day moving average price of $1,032.16. The firm has a market capitalization of $179.76 billion, a PE ratio of 28.10, a P/E/G ratio of 2.20 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,184.13.

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

Insider Activity at BlackRock

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the sale, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fabrizio Freda sold 4,434 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the sale, the director directly owned 3,506 shares of the company's stock, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company's stock.

Hedge Funds Weigh In On BlackRock

Several hedge funds have recently modified their holdings of BLK. Norges Bank acquired a new stake in BlackRock during the second quarter valued at $2,644,007,000. Laurel Wealth Advisors LLC lifted its holdings in BlackRock by 105,267.4% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,705,899 shares of the asset manager's stock worth $1,789,915,000 after buying an additional 1,704,280 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of BlackRock by 72.5% during the second quarter. Franklin Resources Inc. now owns 2,005,358 shares of the asset manager's stock valued at $2,104,122,000 after acquiring an additional 842,901 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of BlackRock by 1,962.0% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 792,494 shares of the asset manager's stock valued at $831,524,000 after purchasing an additional 754,060 shares during the period. Finally, Royal Bank of Canada raised its stake in BlackRock by 73.2% during the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager's stock worth $1,243,059,000 after buying an additional 555,098 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

About BlackRock

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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