Deutsche Bank Aktiengesellschaft Increases BlackRock (NYSE:BLK) Price Target to $937.00

BlackRock (NYSE:BLK) had its target price upped by research analysts at Deutsche Bank Aktiengesellschaft from $912.00 to $937.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 7.45% from the stock’s previous close.

BLK has been the subject of a number of other reports. Morgan Stanley cut their price objective on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Keefe, Bruyette & Woods boosted their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. UBS Group lowered their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Evercore ISI boosted their target price on BlackRock from $910.00 to $920.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, TD Cowen lowered their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $874.07.

BlackRock Price Performance

BlackRock stock traded up $14.48 during midday trading on Thursday, hitting $872.00. 220,628 shares of the company’s stock were exchanged, compared to its average volume of 601,215. BlackRock has a 52-week low of $596.18 and a 52-week high of $885.10. The stock has a 50-day moving average price of $814.35 and a two-hundred day moving average price of $801.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The company has a market cap of $129.58 billion, a P/E ratio of 22.14, a PEG ratio of 1.92 and a beta of 1.32.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the previous year, the business earned $9.28 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that BlackRock will post 41.23 earnings per share for the current year.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,407,041.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,020 shares of company stock worth $83,094,987. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Tennessee Valley Asset Management Partners bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $27,000. Desjardins Global Asset Management Inc. raised its stake in shares of BlackRock by 1.3% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,265 shares of the asset manager’s stock valued at $1,027,000 after acquiring an additional 16 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $44,000. Daiwa Securities Group Inc. raised its stake in shares of BlackRock by 1.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,459 shares of the asset manager’s stock valued at $11,738,000 after acquiring an additional 168 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of BlackRock by 70.3% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 332 shares of the asset manager’s stock valued at $270,000 after acquiring an additional 137 shares in the last quarter. Hedge funds and other 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.