BlackRock (NYSE:BLK) Stock Price Up 0.9%

BlackRock, Inc. (NYSE:BLK) shares rose 0.9% during mid-day trading on Thursday . The stock traded as high as $761.23 and last traded at $760.63. Approximately 100,040 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 620,208 shares. The stock had previously closed at $753.79.

Analysts Set New Price Targets

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

BlackRock Trading Down 0.3 %

The company has a market cap of $111.90 billion, a P/E ratio of 19.33, a PEG ratio of 1.55 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 $806.88 and a 200-day moving average price of $755.19.

BlackRock (NYSE:BLK) last announced its quarterly earnings data 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. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the business posted $7.93 EPS. The business’s revenue was up 11.4% compared to the same quarter last year. Analysts forecast that BlackRock, Inc. will post 41.26 earnings per share for the current fiscal year.

Insider Activity at BlackRock

In related news, Director Stephen Cohen sold 950 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the sale, the director now owns 4,437 shares in the company, valued at approximately $3,574,225.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Marc D. Comerchero sold 450 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $785.11, for a total value of $353,299.50. Following the sale, the insider now owns 5,975 shares in the company, valued at approximately $4,691,032.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the transaction, the director now directly owns 4,437 shares in the company, valued at $3,574,225.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,511 shares of company stock worth $71,864,028. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLK. Tennessee Valley Asset Management Partners acquired a new position in BlackRock in the 4th quarter valued at $27,000. Private Wealth Management Group LLC acquired a new position in BlackRock in the 4th quarter valued at $28,000. Pineridge Advisors LLC acquired a new position in BlackRock in the 4th quarter valued at $28,000. LFA Lugano Financial Advisors SA grew its holdings in BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in BlackRock in the 4th quarter valued at $32,000. 80.69% of the stock is owned by institutional investors and hedge funds.

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.