BlackRock (NYSE:BLK) Shares Up 0.1%

BlackRock, Inc. (NYSE:BLK) traded up 0.1% during mid-day trading on Monday . The company traded as high as $759.93 and last traded at $751.03. 159,551 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 624,224 shares. The stock had previously closed at $749.98.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. UBS Group upped their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, Morgan Stanley increased their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $845.42.

BlackRock Stock Performance

The business has a 50 day moving average of $803.96 and a 200-day moving average of $759.31. The company has a market capitalization of $114.19 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $7.93 earnings per share. On average, sell-side analysts predict that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the transaction, the insider now directly owns 5,975 shares in the company, valued at $4,691,032.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the transaction, the insider now owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the completion of the transaction, the director now owns 4,437 shares in the company, valued at $3,574,225.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,511 shares of company stock worth $66,778,367. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Large investors have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in shares of BlackRock by 23.7% during the 4th quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock valued at $3,181,346,000 after buying an additional 749,654 shares in the last quarter. Capital World Investors lifted its holdings in shares of BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after acquiring an additional 1,279,952 shares during the last quarter. Morgan Stanley boosted its stake in shares of BlackRock by 3.2% in the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after purchasing an additional 104,844 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of BlackRock by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock valued at $2,148,586,000 after purchasing an additional 35,161 shares during the last quarter. Finally, Capital International Investors raised its position in BlackRock by 2.4% in the 4th quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after purchasing an additional 58,681 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Company Profile

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.