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

Key Points

• Morgan Stanley has raised its target price for BlackRock (NYSE:BLK) from $1,224.00 to $1,362.00, indicating a potential upside of 17.03% from the stock’s previous close.
• BlackRock's recent quarterly earnings showed an earnings per share (EPS) of $12.05, surpassing the consensus estimate of $10.41 and reflecting a year-over-year revenue increase of 12.9%.
• Following insider transactions, where directors sold substantial shares, about 1.98% of BlackRock's stock is currently owned by insiders.

BlackRock (NYSE:BLK - Get Free Report) had its target price upped by analysts at Morgan Stanley from $1,224.00 to $1,362.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the asset manager's stock. Morgan Stanley's price objective suggests a potential upside of 17.03% from the stock's previous close.

BLK has been the subject of a number of other research reports. UBS Group reiterated a "neutral" rating and issued a $980.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Evercore ISI increased their price target on shares of BlackRock from $1,170.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. BMO Capital Markets started coverage on shares of BlackRock in a report on Friday. They issued an "outperform" rating and a $1,280.00 target price for the company. Keefe, Bruyette & Woods reduced their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Finally, Barclays lifted their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,222.87.

BlackRock Stock Up 0.3%

Shares of NYSE BLK traded up $3.08 during mid-day trading on Monday, reaching $1,163.77. The company had a trading volume of 47,078 shares, compared to its average volume of 716,747. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,183.50. The stock has a market cap of $180.21 billion, a P/E ratio of 28.14, a PEG ratio of 2.18 and a beta of 1.45. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The firm has a 50 day simple moving average of $1,129.67 and a two-hundred day simple moving average of $1,028.70.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the company posted $10.36 earnings per share. The business's quarterly revenue was up 12.9% compared to the same quarter last year. Sell-side analysts predict that BlackRock will post 47.41 earnings per share for the current year.

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the business's stock in a transaction dated 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 completion of the sale, the director owned 19,205 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 over the last ninety days. 1.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BLK. Fairway Wealth LLC raised its holdings 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 buying an additional 13 shares during the period. Game Plan Financial Advisors LLC lifted its position in shares of BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 15 shares in the last quarter. Garde Capital Inc. grew its holdings in 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 in the last quarter. Traub Capital Management LLC purchased a new stake in BlackRock during the 2nd quarter worth $28,000. Finally, Cheviot Value Management LLC acquired a new stake in shares of BlackRock during the first quarter valued at about $30,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

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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