Deutsche Bank Aktiengesellschaft Cuts BlackRock (NYSE:BLK) Price Target to $1,305.00

BlackRock (NYSE:BLK) had its price objective lowered by 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.

A number of other equities research analysts have also weighed in on the company. Loop Capital set a $1,255.00 price objective on BlackRock in a research report on Tuesday, October 21st. UBS Group reiterated a “hold” rating on shares of BlackRock in a report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of BlackRock in a research report on Thursday, October 30th. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Finally, Barclays lifted their target price on shares of BlackRock from $1,310.00 to $1,360.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,302.53.

BlackRock Price Performance

BLK stock opened at $1,057.41 on Friday. The stock has a market capitalization of $164.06 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.90 and a beta of 1.48. The firm’s 50-day moving average price is $1,127.37 and its two-hundred day moving average price is $1,076.22. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.78 by ($0.23). The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period in the previous year, the business earned $11.46 earnings per share. As a group, equities analysts predict that BlackRock will post 47.41 earnings per share for the current year.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the sale, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This represents a 62.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Several hedge funds have recently bought and sold shares of the business. Pacifica Partners Inc. lifted its holdings in shares of BlackRock by 450.0% during the third quarter. Pacifica Partners Inc. now owns 22 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 18 shares during the last quarter. TruNorth Capital Management LLC grew its stake in shares of BlackRock by 1,000.0% in the 3rd quarter. TruNorth Capital Management LLC now owns 22 shares of the asset manager’s stock worth $26,000 after buying an additional 20 shares during the last quarter. Garde Capital Inc. increased its position in BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after buying an additional 18 shares in the last quarter. Traub Capital Management LLC purchased a new position in BlackRock during the second quarter valued at $28,000. Finally, Whipplewood Advisors LLC boosted its holdings in BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after acquiring an additional 15 shares in the last quarter. 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.