BlackRock (NYSE:BLK) Given New $864.00 Price Target at JPMorgan Chase & Co.

BlackRock (NYSE:BLK) had its price target raised by research analysts at JPMorgan Chase & Co. from $774.00 to $864.00 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 target price points to a potential downside of 7.52% from the company’s previous close.

Other analysts have also recently issued research reports about the company. StockNews.com started coverage on BlackRock in a research report on Thursday, September 26th. They set a “hold” rating for the company. TD Cowen reduced their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Evercore ISI lifted their price objective on BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. UBS Group reduced their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Citigroup boosted their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $908.60.

BlackRock Stock Down 1.6 %

Shares of BLK stock traded down $15.30 on Tuesday, reaching $934.21. 222,707 shares of the company’s stock traded hands, compared to its average volume of 576,156. BlackRock has a 12-month low of $596.18 and a 12-month high of $952.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a market capitalization of $138.82 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. The business’s 50 day moving average price is $881.47 and its two-hundred day moving average price is $822.72.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $9.28 earnings per share. On average, equities analysts forecast that BlackRock will post 41.37 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mark Wiedman sold 11,061 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,527,116. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now owns 5,732 shares in the company, valued at $4,826,802.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,042 shares of company stock valued at $79,387,117. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On BlackRock

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC bought a new stake in shares of BlackRock in the 1st quarter valued at approximately $27,000. Pineridge Advisors LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $28,000. Fairscale Capital LLC acquired a new position in shares of BlackRock in the 2nd quarter valued at $31,000. Lam Group Inc. bought a new position in BlackRock during the 1st quarter worth about $33,000. Finally, Fairman Group LLC bought a new position in BlackRock during the 4th quarter worth about $35,000. 80.69% of the stock is currently owned by institutional investors.

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.