BlackRock (BLK) is Upgraded by Citigroup to Buy

BlackRock (BLK) was Upgraded by Citigroup to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Apr 19, 2016.

Many Wall Street Analysts have commented on BlackRock. Company shares were Reiterated by RBC Capital Mkts on Apr 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 392 from a previous price target of $367 .Company shares were Reiterated by UBS on Apr 15, 2016 to “Buy”, Firm has raised the Price Target to $ 390 from a previous price target of $350 .Company shares were Reiterated by Deutsche Bank on Apr 15, 2016 to “Buy”, Firm has raised the Price Target to $ 383 from a previous price target of $379 .

On the company’s financial health, BlackRock reported $4.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Apr 14, 2016. Analyst had a consensus of $4.30. The company had revenue of $2624.00 million for the quarter, compared to analysts expectations of $2737.66 million. The company’s revenue was down -3.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $4.89 EPS.

BlackRock opened for trading at $353 and hit $359.45 on the upside on Monday, eventually ending the session at $358, with a gain of 0.07% or 0.26 points. The heightened volatility saw the trading volume jump to 8,42,228 shares. Company has a market cap of $59,456 M.

In a different news, on Mar 3, 2016, Laurence Fink (Chairman and CEO) sold 37,600 shares at $321.82 per share price. According to the SEC, on Mar 1, 2016, J. Richard Kushel (Senior Managing Director) sold 3,161 shares at $313.36 per share price. On Feb 19, 2016, Ryan Stork (Senior Managing Director) sold 3,000 shares at $318.36 per share price, according to the Form-4 filing with the securities and exchange commission.

BlackRock Inc. is an investment management firm. The Company provides investment and risk management services to institutional and retail clients across the world. Its product offerings include single- and multi-asset class portfolios investing in equities fixed income alternatives and money market instruments. Products are offered directly and through intermediaries in a variety 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 Company also offers its BlackRock Solutions investment and risk management technology platform Aladdin risk analytics and advisory services and solutions. It has $4.65 trillion of assets under management at December 31 2014.


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