BlackRock (NYSE:BLK) Stock Price Down 0.7%

Shares of BlackRock, Inc. (NYSE:BLK) fell 0.7% on Wednesday . The stock traded as low as $759.44 and last traded at $761.51. 162,824 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 621,684 shares. The stock had previously closed at $766.62.

Analyst Ratings Changes

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

BlackRock Stock Down 0.7 %

The stock has a market cap of $112.87 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $802.70 and a 200-day moving average price of $759.32.

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

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the transaction, the chief executive officer now owns 414,146 shares in the company, valued at approximately $335,425,128.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Marc D. Comerchero sold 450 shares of BlackRock stock in a transaction on Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the transaction, the insider now owns 5,975 shares in the company, valued at approximately $4,691,032.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the transaction, the chief executive officer now owns 414,146 shares in the company, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,511 shares of company stock worth $66,778,367. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tennessee Valley Asset Management Partners acquired a new stake in shares of BlackRock during the 4th quarter worth about $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock during the 1st quarter worth about $27,000. Private Wealth Management Group LLC acquired a new stake in shares of BlackRock during the 4th quarter worth about $28,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock during the 4th quarter worth about $28,000. Finally, LFA Lugano Financial Advisors SA increased its position in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

About BlackRock

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.