Morgan Stanley Lowers BlackRock (BLK) Price Target to $514.00

BlackRock (NYSE:BLK) had its price objective lowered by Morgan Stanley from $554.00 to $514.00 in a research note published on Wednesday, Marketbeat reports. Morgan Stanley currently has an overweight rating on the asset manager’s stock.

Several other analysts have also issued reports on BLK. Barclays cut their price objective on BlackRock from $615.00 to $595.00 and set an overweight rating for the company in a report on Tuesday, July 17th. ValuEngine upgraded BlackRock from a sell rating to a hold rating in a report on Wednesday, October 31st. Argus cut their price objective on BlackRock from $620.00 to $535.00 and set a buy rating for the company in a report on Wednesday, October 17th. Zacks Investment Research lowered BlackRock from a hold rating to a sell rating in a report on Tuesday, August 7th. Finally, Goldman Sachs Group cut their price objective on BlackRock to $570.00 and set a buy rating for the company in a report on Tuesday, July 17th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $554.31.

Shares of NYSE:BLK opened at $411.00 on Wednesday. The company has a quick ratio of 3.87, a current ratio of 3.07 and a debt-to-equity ratio of 0.76. BlackRock has a 1 year low of $376.31 and a 1 year high of $594.52. The firm has a market cap of $64.82 billion, a P/E ratio of 18.19, a PEG ratio of 1.23 and a beta of 1.54.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, October 16th. The asset manager reported $7.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.93 by $0.59. BlackRock had a return on equity of 13.72% and a net margin of 39.92%. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the company earned $5.76 earnings per share. BlackRock’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts anticipate that BlackRock will post 27.84 earnings per share for the current year.

In related news, Director William E. Ford bought 2,000 shares of the business’s stock in a transaction on Wednesday, October 17th. The shares were bought at an average cost of $409.59 per share, for a total transaction of $819,180.00. Following the completion of the acquisition, the director now directly owns 7,466 shares in the company, valued at $3,057,998.94. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.86% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital World Investors raised its holdings in BlackRock by 1.8% during the third quarter. Capital World Investors now owns 8,353,670 shares of the asset manager’s stock valued at $3,937,335,000 after buying an additional 148,805 shares in the last quarter. BlackRock Inc. increased its stake in shares of BlackRock by 2.1% in the second quarter. BlackRock Inc. now owns 7,601,685 shares of the asset manager’s stock worth $3,793,546,000 after purchasing an additional 153,749 shares during the period. Capital International Investors bought a new position in shares of BlackRock in the third quarter worth about $477,939,000. Franklin Resources Inc. increased its stake in shares of BlackRock by 0.5% in the third quarter. Franklin Resources Inc. now owns 741,134 shares of the asset manager’s stock worth $349,319,000 after purchasing an additional 3,976 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of BlackRock by 2.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 476,036 shares of the asset manager’s stock worth $237,562,000 after purchasing an additional 12,785 shares during the period. Institutional investors own 82.76% of the company’s stock.

BlackRock Company Profile

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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