BlackRock (NYSE:BLK) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

BlackRock (NYSE:BLK) had its target price upped by analysts at JPMorgan Chase & Co. from $1,364.00 to $1,435.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 34.31% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Zacks Research cut shares of BlackRock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Morgan Stanley decreased their price target on shares of BlackRock from $1,488.00 to $1,479.00 and set an “overweight” rating on the stock in a report on Friday, September 25th. UBS Group upped their price objective on shares of BlackRock from $1,270.00 to $1,320.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. BNP Paribas Exane increased their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a research note on Tuesday, June 23rd. Finally, Evercore restated an “outperform” rating and issued a $1,260.00 target price on shares of BlackRock in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,304.24.

BlackRock Trading Down 1.0%

Shares of BLK opened at $1,068.41 on Tuesday. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. The business’s fifty day moving average is $1,110.65 and its 200-day moving average is $1,057.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. The firm has a market cap of $165.46 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.22 and a beta of 1.41.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, topping the consensus estimate of $12.69 by $1.22. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.BlackRock’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same period in the prior year, the company earned $12.05 EPS. Equities analysts anticipate that BlackRock will post 55.73 EPS for the current fiscal year.

Institutional Investors Weigh In On BlackRock

A number of institutional investors have recently added to or reduced their stakes in BLK. RMG Wealth Management LLC bought a new stake in shares of BlackRock in the first quarter worth $25,000. Addison Advisors LLC acquired a new stake in BlackRock in the second quarter valued at $25,000. Kelly Lawrence W & Associates Inc. CA bought a new position in BlackRock during the 2nd quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in BlackRock during the 2nd quarter worth about $30,000. Finally, Wilkerson Advisory Group LLC lifted its holdings in BlackRock by 100.0% during the 1st quarter. Wilkerson Advisory Group LLC now owns 34 shares of the asset manager’s stock worth $33,000 after buying an additional 17 shares during the period. 80.69% of the stock is owned by institutional investors.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: JPMorgan raised its BlackRock price target from $1,364 to $1,435 and maintained an “overweight” rating, implying substantial upside from recent levels. BlackRock Stock Price Target Raised at JPMorgan Chase
• Positive Sentiment: BlackRock is reportedly in exclusive talks to acquire Stack Infrastructure’s Asia-Pacific data-center operations for approximately $20 billion to $25 billion. The potential transaction would expand its exposure to AI and cloud infrastructure, although it would also require significant capital. BlackRock in Talks on Data Center Deal
• Positive Sentiment: Recent coverage highlights strong performance from BlackRock’s income and semiconductor funds, while the company continues developing tokenized money-market funds, stablecoin infrastructure and crypto products. These initiatives could support future fee growth and asset inflows. BlackRock Income Fund Performance

BlackRock Company Profile

BlackRock, Inc is a global investment management and financial technology company serving individual investors, institutions, governments and financial professionals. The company provides investment management, risk management and advisory services across a broad range of asset classes, including equities, fixed income, multi-asset strategies, alternatives and cash management.

BlackRock offers investment products through mutual funds, exchange-traded funds and other vehicles. Its iShares brand is one of the company’s principal platforms for exchange-traded funds, providing access to domestic and international markets, industry sectors, bonds, commodities and specialized investment strategies.

The company also provides technology and analytical solutions through its Aladdin platform, which is used by asset managers, institutional investors and other financial organizations for portfolio management, risk analysis, trading and operational support.