The stock of BlackRock, Inc. (NYSE:BLK) hit a new 52-week high and has $410.92 target or 9.00% above today’s $376.99 share price. The 7 months bullish chart indicates low risk for the $61.47 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $410.92 price target is reached, the company will be worth $5.53B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 426,244 shares traded hands. BlackRock, Inc. (NYSE:BLK) has risen 3.33% since April 28, 2016 and is uptrending. It has underperformed by 2.59% the S&P500.
Analysts await BlackRock, Inc. (NYSE:BLK) to report earnings on January, 20. They expect $5.11 EPS, up 7.58% or $0.36 from last year’s $4.75 per share. BLK’s profit will be $833.21 million for 18.44 P/E if the $5.11 EPS becomes a reality. After $5.14 actual EPS reported by BlackRock, Inc. for the previous quarter, Wall Street now forecasts -0.58% negative EPS growth.
BlackRock, Inc. (NYSE:BLK) Ratings Coverage
Out of 13 analysts covering BlackRock (NYSE:BLK), 8 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 62% are positive. BlackRock has been the topic of 54 analyst reports since August 26, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained the shares of BLK in a report on Friday, September 9 with “Buy” rating. The rating was maintained by Credit Suisse with “Outperform” on Tuesday, April 12. The stock of BlackRock, Inc. (NYSE:BLK) has “Equal-Weight” rating given on Tuesday, April 5 by Barclays Capital. The firm has “Buy” rating by Deutsche Bank given on Thursday, March 17. The firm has “Equal-Weight” rating by Barclays Capital given on Wednesday, August 26. The stock has “Buy” rating given by Deutsche Bank on Wednesday, October 5. Credit Suisse upgraded BlackRock, Inc. (NYSE:BLK) on Thursday, September 10 to “Outperform” rating. The stock of BlackRock, Inc. (NYSE:BLK) has “Buy” rating given on Thursday, April 14 by Citigroup. The firm has “Market Perform” rating given on Friday, July 15 by Keefe Bruyette & Woods. The rating was upgraded by UBS to “Buy” on Friday, October 2.
According to Zacks Investment Research, “BlackRock, Inc. is one of the largest investment management firms in the United States. The company offers a variety of investment products to institutional and individual investors in the U.S. and internationally. The company also offers a variety of risk management services to large institutional fixed income investors.”
Insitutional Activity: The institutional sentiment increased to 1.14 in 2016 Q2. Its up 0.18, from 0.96 in 2016Q1. The ratio increased, as 66 funds sold all BlackRock, Inc. shares owned while 282 reduced positions. 55 funds bought stakes while 279 increased positions. They now own 129.74 million shares or 9.62% less from 143.56 million shares in 2016Q1.
Dynamic Advisors Solutions Ltd Llc accumulated 0.29% or 2,080 shares. Blackrock Ltd Liability Co last reported 64,924 shares in the company. Atria Limited Liability owns 800 shares or 0.03% of their US portfolio. Acadian Asset Mgmt Ltd Liability Com holds 1,025 shares or 0% of its portfolio. Middleton & Incorporated Ma, a Massachusetts-based fund reported 1,820 shares. Dai Ichi Life Insurance has invested 0.05% of its portfolio in BlackRock, Inc. (NYSE:BLK). Papp L Roy last reported 52,700 shares in the company. Arizona State Retirement Systems reported 43,642 shares or 0.21% of all its holdings. Riverpark Advisors Ltd Liability Com, a New York-based fund reported 10,319 shares. Invest Advisors owns 4,205 shares or 0.13% of their US portfolio. Trust Co Of Vermont, a Vermont-based fund reported 18,814 shares. Ep Wealth Advsrs Inc holds 1.44% or 26,357 shares in its portfolio. Deutsche State Bank Ag has 0.07% invested in the company for 299,248 shares. The Nebraska-based Ameritas has invested 0.15% in BlackRock, Inc. (NYSE:BLK). Cadence Capital Management Limited holds 0.42% of its portfolio in BlackRock, Inc. (NYSE:BLK) for 16,330 shares.
Another recent and important BlackRock, Inc. (NYSE:BLK) news was published by Wsj.com which published an article titled: “BlackRock Plans Move to Manhattan’s West Side” on November 08, 2016.
BLK Company Profile
BlackRock, Inc., incorporated on February 13, 2006, is an investment management company. The Firm provides a range of investment and risk management services to institutional and retail clients across the world. The Company’s product offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. The Company’s products are offered directly and through intermediaries in a range of vehicles, including open-end and closed-end mutual funds, iShares exchange-traded funds (ETFs), separate accounts, collective investment funds and other pooled investment vehicles. The Firm offers its BlackRock Solutions (BRS) investment and risk management technology platform, Aladdin; risk analytics, and advisory services and solutions to a range of institutional investors.
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