BlackRock (NYSE:BLK) Shares Up 0.8%

BlackRock, Inc. (NYSE:BLK) shares were up 0.8% on Tuesday . The stock traded as high as $769.27 and last traded at $766.27. Approximately 102,897 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 623,260 shares. The stock had previously closed at $760.11.

Wall Street Analyst Weigh In

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

BlackRock Trading Down 0.5 %

The stock’s fifty day moving average price is $803.50 and its 200 day moving average price is $759.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The stock has a market capitalization of $113.57 billion, a P/E ratio of 19.38, a PEG ratio of 1.59 and a beta of 1.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 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 analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $7.93 earnings per share. Research analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were 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 directly owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,511 shares of company stock worth $66,778,367. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On BlackRock

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Abacus Planning Group Inc. raised its position in shares of BlackRock by 4.0% in the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after purchasing an additional 13 shares during the last quarter. Knuff & Co LLC raised its position in shares of BlackRock by 48.1% in the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 13 shares during the last quarter. Everhart Financial Group Inc. raised its position in shares of BlackRock by 3.2% in the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after purchasing an additional 14 shares during the last quarter. Spreng Capital Management Inc. raised its position in shares of BlackRock by 1.1% in the 4th quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after purchasing an additional 14 shares during the last quarter. Finally, Accurate Wealth Management LLC raised its position in shares of BlackRock by 1.4% in the 1st quarter. Accurate Wealth Management LLC now owns 1,007 shares of the asset manager’s stock valued at $840,000 after purchasing an additional 14 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

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.