December 7, 2022

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BlackRock (NYSE:BLKGet Rating) had its target price raised by investment analysts at The Goldman Sachs Group from $615.00 to $741.00 in a report released on Wednesday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the asset manager’s stock. The Goldman Sachs Group’s price target points to a potential upside of 0.79% from the stock’s current price.
Other analysts have also issued reports about the company. Morgan Stanley lowered their price target on BlackRock from $773.00 to $754.00 and set an “overweight” rating on the stock in a research note on Monday, October 3rd. BMO Capital Markets lowered their price objective on BlackRock from $495.00 to $481.00 and set a “market perform” rating on the stock in a research note on Friday, October 14th. Credit Suisse Group assumed coverage on BlackRock in a research note on Tuesday, October 18th. They set a “neutral” rating and a $540.00 price objective on the stock. StockNews.com assumed coverage on BlackRock in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Evercore ISI reduced their target price on BlackRock to $640.00 in a research report on Thursday, October 20th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $703.92.

BlackRock Stock Performance

BLK stock traded up $1.75 during trading on Wednesday, hitting $735.20. 4,186 shares of the company traded hands, compared to its average volume of 926,461. The stock’s 50-day simple moving average is $628.27 and its 200 day simple moving average is $641.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.03 and a quick ratio of 3.03. The company has a market cap of $110.43 billion, a PE ratio of 20.23, a P/E/G ratio of 3.80 and a beta of 1.29. BlackRock has a 1 year low of $503.12 and a 1 year high of $939.41.
BlackRock (NYSE:BLKGet Rating) last posted its quarterly earnings data on Thursday, October 13th. The asset manager reported $9.55 EPS for the quarter, beating analysts’ consensus estimates of $7.73 by $1.82. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.17 billion. BlackRock had a return on equity of 15.07% and a net margin of 29.84%. The business’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $10.95 earnings per share. On average, equities analysts expect that BlackRock will post 33.88 earnings per share for the current fiscal year.

Insider Transactions at BlackRock

In related news, Director Rachel Lord sold 3,950 shares of the company’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $773.41, for a total value of $3,054,969.50. Following the completion of the sale, the director now directly owns 8,319 shares of the company’s stock, valued at approximately $6,433,997.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Laurence Fink sold 14,600 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $685.58, for a total transaction of $10,009,468.00. Following the completion of the transaction, the chief executive officer now directly owns 549,171 shares of the company’s stock, valued at approximately $376,500,654.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Rachel Lord sold 3,950 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $773.41, for a total value of $3,054,969.50. Following the transaction, the director now directly owns 8,319 shares of the company’s stock, valued at $6,433,997.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,900 shares of company stock valued at $14,067,231. 1.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BlackRock

Large investors have recently modified their holdings of the business. Fisher Asset Management LLC increased its stake in BlackRock by 753.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,723,157 shares of the asset manager’s stock valued at $948,219,000 after purchasing an additional 1,521,293 shares in the last quarter. Public Investment Fund acquired a new stake in BlackRock during the 2nd quarter valued at $451,721,000. Franklin Resources Inc. grew its holdings in BlackRock by 105.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,343,027 shares of the asset manager’s stock valued at $817,958,000 after buying an additional 689,874 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in shares of BlackRock by 79,395.4% during the first quarter. Aaron Wealth Advisors LLC now owns 670,941 shares of the asset manager’s stock worth $878,000 after purchasing an additional 670,097 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of BlackRock by 3.4% during the third quarter. Vanguard Group Inc. now owns 13,492,083 shares of the asset manager’s stock worth $7,424,424,000 after purchasing an additional 444,552 shares during the last quarter. 76.88% of the stock is owned by hedge funds and other institutional investors.

BlackRock Company Profile

(Get Rating)
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)
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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