Fintel reports that on September 12, 2024, Wells Fargo initiated coverage of BlackRock (NYSE:BLK) with a Overweight recommendation.
Analyst Price Forecast Suggests 8.18% Upside
As of August 25, 2024, the average one-year price target for BlackRock is $957.55/share. The forecasts range from a low of $848.40 to a high of $1,087.80. The average price target represents an increase of 8.18% from its latest reported closing price of $885.12 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for BlackRock is 20,036MM, an increase of 9.22%. The projected annual non-GAAP EPS is 39.15.
What is the Fund Sentiment?
There are 2,830 funds or institutions reporting positions in BlackRock. This is an increase of 15 owner(s) or 0.53% in the last quarter. Average portfolio weight of all funds dedicated to BLK is 0.40%, an increase of 10.11%. Total shares owned by institutions increased in the last three months by 3.47% to 137,316K shares. 
The put/call ratio of BLK is 1.18, indicating a bearish outlook.
What are Other Shareholders Doing?
Temasek Holdings holds 5,133K shares representing 3.47% ownership of the company. In its prior filing, the firm reported owning 5,115K shares , representing an increase of 0.35%. The firm decreased its portfolio allocation in BLK by 20.52% over the last quarter.
Bank Of America holds 5,133K shares representing 3.47% ownership of the company. In its prior filing, the firm reported owning 5,197K shares , representing a decrease of 1.24%. The firm decreased its portfolio allocation in BLK by 12.04% over the last quarter.
Capital Research Global Investors holds 4,533K shares representing 3.06% ownership of the company. In its prior filing, the firm reported owning 4,354K shares , representing an increase of 3.93%. The firm decreased its portfolio allocation in BLK by 4.66% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,459K shares representing 3.01% ownership of the company. In its prior filing, the firm reported owning 4,440K shares , representing an increase of 0.42%. The firm decreased its portfolio allocation in BLK by 7.78% over the last quarter.
Charles Schwab Investment Management holds 3,768K shares representing 2.54% ownership of the company. In its prior filing, the firm reported owning 3,631K shares , representing an increase of 3.64%. The firm decreased its portfolio allocation in BLK by 19.00% over the last quarter.
Blackrock Background Information
(This description is provided by the company.)
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, our clients turn to us for the solutions they need when planning for their most important goals. As of September 30, 2020, the firm managed approximately $7.81 trillion in assets on behalf of investors worldwide.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
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This story originally appeared on Fintel.
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