BlackRock (NYSE:BLK) Reaches New 1-Year High – Time to Buy?

BlackRock, Inc. (NYSE:BLK) reached a new 52-week high during trading on Wednesday . The company traded as high as $1,057.51 and last traded at $1,046.52, with a volume of 77399 shares changing hands. The stock had previously closed at $1,014.35.

Analysts Set New Price Targets

Several equities analysts have weighed in on BLK shares. Evercore ISI increased their target price on BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. TD Cowen boosted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Argus raised their price objective on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $995.31.

BlackRock Trading Up 1.5 %

The firm has a 50-day moving average of $944.72 and a two-hundred day moving average of $855.82. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $152.55 billion, a P/E ratio of 25.02, a P/E/G ratio of 1.77 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the company earned $10.91 EPS. BlackRock’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts anticipate that BlackRock, Inc. will post 42.94 EPS for the current year.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,670,194.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 35,061 shares of company stock valued at $30,734,840. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

A number of institutional investors have recently added to or reduced their stakes in BLK. Axxcess Wealth Management LLC boosted its stake in shares of BlackRock by 35.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after purchasing an additional 1,248 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of BlackRock by 219.5% in the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after buying an additional 30,274 shares during the last quarter. M&G Plc bought a new stake in BlackRock during the 1st quarter worth approximately $161,918,000. GAMMA Investing LLC increased its stake in BlackRock by 62.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock worth $1,804,000 after buying an additional 884 shares in the last quarter. Finally, CreativeOne Wealth LLC bought a new position in BlackRock in the 1st quarter worth approximately $759,000. 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.