Deutsche Bank Aktiengesellschaft Increases BlackRock (NYSE:BLK) Price Target to $937.00

BlackRock (NYSE:BLK) had its target price raised by equities research analysts at Deutsche Bank Aktiengesellschaft from $912.00 to $937.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 7.45% from the company’s current price.

Other analysts also recently issued reports about the company. Citigroup upped their price objective on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods upped their price objective on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Evercore ISI boosted their target price on BlackRock from $910.00 to $920.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. TD Cowen dropped their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Finally, Morgan Stanley dropped their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $874.07.

BlackRock Stock Performance

Shares of BlackRock stock traded up $14.48 on Thursday, hitting $872.00. The stock had a trading volume of 220,628 shares, compared to its average volume of 601,215. The company’s 50 day moving average price is $814.35 and its 200 day moving average price is $801.11. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The stock has a market cap of $129.58 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 1.92 and a beta of 1.32. BlackRock has a 52-week low of $596.18 and a 52-week high of $885.10.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $9.28 EPS. On average, research analysts anticipate that BlackRock will post 41.23 EPS for the current year.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 11,061 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $852.95, for a total value of $9,434,479.95. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,527,116. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,020 shares of company stock worth $83,094,987. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of BlackRock in the 4th quarter worth $1,812,920,000. Capital World Investors raised its position in shares of BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after buying an additional 1,279,952 shares during the period. Capital Research Global Investors raised its position in shares of BlackRock by 23.7% in the 4th quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after buying an additional 749,654 shares during the period. Mayflower Financial Advisors LLC raised its position in shares of BlackRock by 24,171.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock worth $346,831,000 after buying an additional 414,300 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after buying an additional 292,017 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.