BlackRock (NYSE:BLK) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of BlackRock (NYSE:BLK) in a research note published on Monday. The brokerage issued a hold rating on the asset manager’s stock.

Other analysts have also issued reports about the stock. UBS Group dropped their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price target on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Wells Fargo & Company upped their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Argus raised their price target on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $995.31.

BlackRock Trading Down 0.3 %

NYSE:BLK opened at $980.54 on Monday. The company has a market cap of $145.71 billion, a P/E ratio of 24.92, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. BlackRock has a twelve month low of $604.41 and a twelve month high of $1,032.00. The business has a 50 day moving average price of $935.63 and a two-hundred day moving average price of $848.38. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $10.91 EPS. As a group, analysts expect that BlackRock will post 41.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other BlackRock news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other BlackRock news, Director Mark Wiedman sold 11,061 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $852.95, for a total value of $9,434,479.95. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,042 shares of company stock worth $56,857,777 in the last quarter. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

Several large investors have recently bought and sold shares of BLK. Brookstone Capital Management increased its stake in shares of BlackRock by 9.6% in the first quarter. Brookstone Capital Management now owns 583 shares of the asset manager’s stock valued at $486,000 after buying an additional 51 shares during the period. Miracle Mile Advisors LLC lifted its holdings in BlackRock by 5.4% during the 1st quarter. Miracle Mile Advisors LLC now owns 568 shares of the asset manager’s stock worth $473,000 after buying an additional 29 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of BlackRock by 60.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 29,783 shares of the asset manager’s stock valued at $24,830,000 after buying an additional 11,243 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in shares of BlackRock by 43.2% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 169 shares of the asset manager’s stock valued at $141,000 after buying an additional 51 shares during the period. Finally, Silverlake Wealth Management LLC lifted its stake in shares of BlackRock by 11.6% in the first quarter. Silverlake Wealth Management LLC now owns 432 shares of the asset manager’s stock worth $360,000 after acquiring an additional 45 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

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.