BlackRock (BLK) PT Raised to $480.00 at Wells Fargo & Co
BlackRock (NYSE:BLK) had its price target hoisted by equities researchers at Wells Fargo & Co from $460.00 to $480.00 in a report issued on Wednesday, The Fly reports. The firm currently has an “average” rating on the asset manager’s stock. Wells Fargo & Co‘s price target indicates a potential upside of 3.07% from the stock’s previous close.
BLK has been the subject of a number of other reports. Barclays upped their target price on BlackRock from $490.00 to $515.00 and gave the company an “overweight” rating in a research report on Wednesday. Jefferies Financial Group raised BlackRock from a “hold” rating to a “buy” rating and set a $405.36 target price for the company in a research report on Tuesday, January 29th. Credit Suisse Group decreased their target price on BlackRock from $573.00 to $529.00 and set an “outperform” rating for the company in a research report on Monday, January 14th. Morgan Stanley upped their target price on BlackRock from $536.00 to $545.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Deutsche Bank upped their target price on BlackRock from $428.00 to $431.00 and gave the company a “hold” rating in a research report on Friday, March 15th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $509.38.
NYSE:BLK opened at $465.69 on Wednesday. The stock has a market cap of $73.45 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 1.70 and a beta of 1.40. BlackRock has a 1 year low of $360.79 and a 1 year high of $557.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.64.
In other BlackRock news, insider J. Richard Kushel sold 3,077 shares of the company’s stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $409.29, for a total transaction of $1,259,385.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Laurence Fink sold 44,000 shares of the company’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $412.75, for a total value of $18,161,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,598 shares of company stock valued at $48,686,551. 1.75% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. WESPAC Advisors SoCal LLC purchased a new position in shares of BlackRock during the 4th quarter worth approximately $25,000. Hanson McClain Inc. raised its stake in shares of BlackRock by 425.0% during the 4th quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock worth $25,000 after buying an additional 51 shares in the last quarter. Private Ocean LLC raised its stake in shares of BlackRock by 620.0% during the 4th quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock worth $28,000 after buying an additional 62 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new position in shares of BlackRock during the 4th quarter worth approximately $33,000. Finally, Legacy Financial Advisors Inc. raised its stake in shares of BlackRock by 125.6% during the 4th quarter. Legacy Financial Advisors Inc. now owns 88 shares of the asset manager’s stock worth $35,000 after buying an additional 49 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.
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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