BlackRock (NYSE:BLK – Get Free Report) had its price target decreased by Barclays from $1,220.00 to $1,160.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Barclays‘s price target indicates a potential upside of 20.49% from the company’s current price.
A number of other brokerages have also issued reports on BLK. Evercore ISI raised their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Cowen upped their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their price target on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company decreased their price objective on BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $1,088.67.
Get Our Latest Analysis on BlackRock
BlackRock Stock Up 0.8 %
Insider Activity
In related news, 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 value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
Hedge Funds Weigh In On BlackRock
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FSA Wealth Management LLC purchased a new position in shares of BlackRock during the 3rd quarter worth approximately $26,000. Fairscale Capital LLC acquired a new stake in BlackRock during the 2nd quarter valued at $31,000. Reston Wealth Management LLC purchased a new position in BlackRock during the third quarter worth $37,000. MFA Wealth Advisors LLC raised its holdings in shares of BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares during the last quarter. Finally, West Financial Advisors LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at $39,000. Institutional investors and hedge funds 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.
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