BlackRock (NYSE:BLK) Price Target Cut to $1,305.00 by Analysts at Deutsche Bank Aktiengesellschaft

BlackRock (NYSE:BLK) had its target price reduced by equities researchers at Deutsche Bank Aktiengesellschaft from $1,312.00 to $1,305.00 in a report issued on Friday,MarketScreener reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 22.88% from the company’s previous close.

A number of other research firms also recently commented on BLK. Bank of America increased their price objective on shares of BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. UBS Group reissued a “hold” rating on shares of BlackRock in a research report on Tuesday, October 21st. The Goldman Sachs Group boosted their price target on shares of BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Argus increased their price objective on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, TD Cowen boosted their target price on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,302.53.

BlackRock Trading Down 0.7%

NYSE BLK traded down $7.66 on Friday, hitting $1,061.99. 143,603 shares of the stock were exchanged, compared to its average volume of 710,794. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,219.94. The firm has a market capitalization of $164.45 billion, a P/E ratio of 27.32, a P/E/G ratio of 1.90 and a beta of 1.48. The stock has a fifty day moving average price of $1,128.20 and a two-hundred day moving average price of $1,073.03. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same period last year, the firm earned $11.46 EPS. The business’s quarterly revenue was up 25.2% on a year-over-year basis. Research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Activity

In other news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the transaction, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of BlackRock by 1.7% during the second quarter. Vanguard Group Inc. now owns 13,991,264 shares of the asset manager’s stock worth $14,680,334,000 after purchasing an additional 227,192 shares in the last quarter. Geode Capital Management LLC grew its stake in BlackRock by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,143,429 shares of the asset manager’s stock worth $3,281,641,000 after buying an additional 34,049 shares during the last quarter. Norges Bank acquired a new position in BlackRock during the second quarter worth approximately $2,644,007,000. Franklin Resources Inc. lifted its stake in BlackRock by 72.5% in the second quarter. Franklin Resources Inc. now owns 2,005,358 shares of the asset manager’s stock valued at $2,104,122,000 after buying an additional 842,901 shares during the last quarter. Finally, Capital International Investors boosted its holdings in shares of BlackRock by 0.6% in the third quarter. Capital International Investors now owns 1,841,088 shares of the asset manager’s stock valued at $2,146,663,000 after acquiring an additional 10,591 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Company Profile

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.