Credit Suisse Remains a Buy on Blackrock Inc (BLK)

By Austin Angelo

Credit Suisse analyst Craig Siegenthaler maintained a Buy rating on Blackrock Inc (NYSE: BLK) yesterday and set a price target of $665. The company’s shares closed yesterday at $476.06.

According to TipRanks.com, Siegenthaler is a 4-star analyst with an average return of 6.8% and a 59.9% success rate. Siegenthaler covers the Financial sector, focusing on stocks such as Janus Henderson Group plc, Raymond James Financial, and Affiliated Managers.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Blackrock Inc with a $589.60 average price target.

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Based on Blackrock Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.61 billion and net profit of $1.07 billion. In comparison, last year the company earned revenue of $3 billion and had a net profit of $857 million.

Based on the recent corporate insider activity of 133 insiders, corporate insider sentiment is neutral on the stock. Most recently, in July 2018, Laurence Fink, the Chairman & CEO of BLK sold 19,800 shares for a total of $10,051,763.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

BlackRock, Inc. engages in the provision of investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments.