Wells Fargo & Company Has Lowered Expectations for BlackRock (NYSE:BLK) Stock Price

BlackRock (NYSE:BLK) had its target price decreased by stock analysts at Wells Fargo & Company from $1,200.00 to $1,155.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 16.46% from the stock’s previous close.

Several other research firms also recently issued reports on BLK. TD Cowen upped their price target on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays upped their price objective on shares of BlackRock from $1,120.00 to $1,220.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Citigroup boosted their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Morgan Stanley increased their target price on BlackRock from $1,245.00 to $1,261.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,070.08.

BlackRock Stock Down 2.1 %

BlackRock stock traded down $20.96 during mid-day trading on Tuesday, hitting $991.78. The company’s stock had a trading volume of 236,538 shares, compared to its average volume of 468,868. The company has a market cap of $153.61 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 1.92 and a beta of 1.28. BlackRock has a 52-week low of $745.55 and a 52-week high of $1,082.45. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm’s 50 day moving average is $1,031.46 and its 200 day moving average is $936.16.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the firm posted $10.91 EPS. The business’s revenue was up 14.9% compared to the same quarter last year. On average, analysts anticipate that BlackRock will post 43.18 earnings per share for the current year.

Insider Transactions at BlackRock

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

Institutional Trading of BlackRock

Several large investors have recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new stake in BlackRock during the 3rd quarter worth approximately $26,000. Fairscale Capital LLC bought a new stake in shares of BlackRock during the second quarter worth $31,000. Reston Wealth Management LLC acquired a new stake in shares of BlackRock in the third quarter valued at $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 valued at $38,000 after buying an additional 20 shares during the last quarter. Finally, Addison Advisors LLC lifted its position in BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after buying an additional 22 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

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.