BlackRock (NYSE:BLK) Price Target Raised to $971.00 at JPMorgan Chase & Co.

BlackRock (NYSE:BLKGet Free Report) had its price target boosted by analysts at JPMorgan Chase & Co. from $914.00 to $971.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 0.86% from the company’s previous close.

Several other analysts also recently issued reports on the stock. StockNews.com started coverage on shares of BlackRock in a research note on Wednesday, January 8th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Citigroup lifted their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Evercore ISI upped their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,088.67.

Read Our Latest Report on BLK

BlackRock Stock Up 0.8 %

Shares of BLK traded up $7.70 during mid-day trading on Tuesday, reaching $962.71. The company had a trading volume of 168,321 shares, compared to its average volume of 661,223. BlackRock has a 52 week low of $745.55 and a 52 week high of $1,082.45. The company has a market capitalization of $149.10 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.28. The firm has a 50-day moving average price of $1,030.22 and a 200 day moving average price of $942.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLKGet Free Report) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the firm posted $10.91 EPS. BlackRock’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, sell-side analysts forecast that BlackRock will post 43.18 EPS for the current year.

Insider Activity at BlackRock

In other news, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Trading of BlackRock

A number of hedge funds have recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new stake in shares of BlackRock in the third quarter worth approximately $26,000. Fairscale Capital LLC purchased a new stake in shares of BlackRock in the second quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new stake in shares of BlackRock in the third quarter worth approximately $37,000. MFA Wealth Advisors LLC raised its position in BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares in the last quarter. Finally, Addison Advisors LLC raised its position in BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 22 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

About BlackRock

(Get Free Report)

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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Analyst Recommendations for BlackRock (NYSE:BLK)

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