Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for BlackRock (NYSE:BLK) Stock

BlackRock (NYSE:BLK) had its target price upped by research analysts at Deutsche Bank Aktiengesellschaft from $1,215.00 to $1,275.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 26.96% from the stock’s previous close.

Several other research analysts have also recently issued reports on BLK. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. TD Cowen lifted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company lowered their price objective on BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com assumed coverage on shares of BlackRock in a report on Thursday. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,103.33.

BlackRock Stock Performance

BLK opened at $1,004.23 on Thursday. The company has a market cap of $155.54 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm’s 50-day moving average price is $1,028.03 and its 200-day moving average price is $944.64. BlackRock has a 52-week low of $745.55 and a 52-week high of $1,082.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. BlackRock’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.66 EPS. As a group, equities analysts anticipate that BlackRock will post 43.02 EPS for the current fiscal year.

Insider Activity at BlackRock

In other news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of BlackRock

Hedge funds have recently made changes to their positions in the company. State Street Corp lifted its stake in shares of BlackRock by 0.7% in the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock valued at $5,681,472,000 after purchasing an additional 42,757 shares during the last quarter. Geode Capital Management LLC boosted its holdings in BlackRock by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock valued at $2,663,330,000 after acquiring an additional 30,182 shares during the period. FMR LLC grew its position in BlackRock by 10.6% in the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after acquiring an additional 226,135 shares in the last quarter. Fisher Asset Management LLC increased its stake in BlackRock by 1.9% during the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock worth $2,081,561,000 after purchasing an additional 40,865 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of BlackRock by 2.9% during the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after purchasing an additional 46,728 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.