4 days Ago By ABMN Staff
BlackRock ( NYSE:BLK – Get Free Report ) had its price target cut by research analysts at Citigroup from $1,200.00 to $1,100.00 in a report issued on Monday, Benzinga reports.
The firm currently has a “buy” rating on the asset manager’s stock. Citigroup’s price objective would suggest a potential upside of 23.70% from the company’s previous close.
Several other research firms also recently weighed in on BLK. Bank of America dropped their price target on BlackRock from $1,196.00 to $1,178.
00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. UBS Group cut their price target on shares of BlackRock from $1,045.00 to $1,010.
00 and set a “neutral” rating on the stock in a report on Friday, April 11th. TD Cowen decreased their target price on shares of BlackRock from $1,251.00 to $1,032.
00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company cut their price target on BlackRock from $1,065.00 to $1,035.
00 and set an “overweight” rating on the stock in a research report on Monday. Finally, StockNews.com assumed coverage on BlackRock in a report on Monday.
They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,077.
08. Read Our Latest Analysis on BLK BlackRock Stock Performance BlackRock ( NYSE:BLK – Get Free Report ) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.
30 earnings per share for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46.
BlackRock had a return on equity of 16.32% and a net margin of 31.21%.
The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion.
During the same quarter in the previous year, the firm earned $9.81 earnings per share. The company’s revenue was up 11.
6% on a year-over-year basis. On average, sell-side analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.
Insider Buying and Selling at BlackRock In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1,010.
00, for a total transaction of $10,100,000.00. Following the completion of the transaction, the director now owns 68,433 shares of the company’s stock, valued at $69,117,330.
This trade represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website .
Insiders sold a total of 20,430 shares of company stock worth $21,234,629 in the last three months. 0.90% of the stock is owned by corporate insiders.
Institutional Trading of BlackRock Several institutional investors have recently added to or reduced their stakes in the stock. Kelly Financial Services LLC purchased a new position in shares of BlackRock during the first quarter worth $203,000. First United Bank & Trust purchased a new position in BlackRock during the 1st quarter valued at about $85,000.
Simon Quick Advisors LLC grew its position in BlackRock by 139.8% in the 1st quarter. Simon Quick Advisors LLC now owns 844 shares of the asset manager’s stock valued at $799,000 after acquiring an additional 492 shares in the last quarter.
Zhang Financial LLC increased its stake in BlackRock by 2.4% during the first quarter. Zhang Financial LLC now owns 968 shares of the asset manager’s stock worth $916,000 after purchasing an additional 23 shares during the period.
Finally, Exchange Bank lifted its position in shares of BlackRock by 3.8% during the first quarter. Exchange Bank now owns 486 shares of the asset manager’s stock worth $460,000 after purchasing an additional 18 shares in the last quarter.
Institutional investors and hedge funds own 80.69% of the company’s stock. BlackRock Company Profile ( 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. Featured Articles Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter .
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