BlackRock (NYSE:BLK)‘s stock had its “buy” rating reiterated by equities research analysts at Barclays in a note issued to investors on Thursday.

A number of other analysts have also recently commented on BLK. Deutsche Bank lifted their target price on BlackRock from $549.00 to $559.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. JPMorgan Chase & Co. lifted their target price on BlackRock from $541.00 to $592.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. UBS Group cut their target price on BlackRock from $575.00 to $565.00 and set a “buy” rating on the stock in a research report on Monday, October 8th. Morgan Stanley cut their target price on BlackRock from $607.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, October 9th. Finally, Wells Fargo & Co cut their target price on BlackRock from $545.00 to $510.00 and set a “market perform” rating on the stock in a research report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. BlackRock presently has an average rating of “Buy” and a consensus price target of $513.08.

BlackRock stock traded down $1.59 during midday trading on Thursday, reaching $397.91. The company’s stock had a trading volume of 697,158 shares, compared to its average volume of 692,232. BlackRock has a fifty-two week low of $360.79 and a fifty-two week high of $594.52. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.07 and a quick ratio of 3.07. The stock has a market cap of $63.11 billion, a PE ratio of 17.61, a P/E/G ratio of 1.39 and a beta of 1.43.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $6.93 by $0.59. BlackRock had a return on equity of 13.72% and a net margin of 39.92%. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same period last year, the firm earned $5.76 earnings per share. BlackRock’s quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts expect that BlackRock will post 27.63 earnings per share for the current fiscal year.

In related news, Director J. Richard Kushel sold 2,100 shares of the business’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $419.11, for a total value of $880,131.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William E. Ford purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 17th. The stock was bought at an average price of $409.59 per share, for a total transaction of $819,180.00. Following the transaction, the director now directly owns 7,466 shares in the company, valued at $3,057,998.94. The disclosure for this purchase can be found here. Insiders own 1.75% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Exchange Capital Management Inc. boosted its holdings in BlackRock by 3.0% in the 3rd quarter. Exchange Capital Management Inc. now owns 12,588 shares of the asset manager’s stock valued at $5,933,000 after purchasing an additional 367 shares in the last quarter. Bristlecone Advisors LLC boosted its holdings in BlackRock by 51.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 6,667 shares of the asset manager’s stock valued at $3,142,000 after purchasing an additional 2,260 shares in the last quarter. New Potomac Partners LLC boosted its holdings in BlackRock by 4.4% in the 3rd quarter. New Potomac Partners LLC now owns 5,332 shares of the asset manager’s stock valued at $2,513,000 after purchasing an additional 225 shares in the last quarter. First Trust Advisors LP boosted its holdings in BlackRock by 8.4% in the 3rd quarter. First Trust Advisors LP now owns 142,435 shares of the asset manager’s stock valued at $67,134,000 after purchasing an additional 11,002 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in BlackRock by 2.8% in the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,293 shares of the asset manager’s stock valued at $3,639,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 82.43% 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.

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Analyst Recommendations for BlackRock (NYSE:BLK)

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