BlackRock (NYSE:BLK) Stock Price Down 0.2%

BlackRock, Inc. (NYSE:BLK) shares were down 0.2% during trading on Tuesday . The company traded as low as $757.14 and last traded at $759.86. Approximately 61,347 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 617,394 shares. The stock had previously closed at $761.28.

Analyst Ratings Changes

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

BlackRock Price Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. The company has a market cap of $111.84 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 1.56 and a beta of 1.37. The company has a 50-day simple moving average of $799.47 and a 200-day simple moving average of $763.50.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate 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 net margin of 32.26% and a return on equity of 15.34%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $7.93 EPS. As a group, research analysts predict that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Insider Activity

In related news, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction that occurred 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 legal filing with the SEC, which is accessible through this hyperlink. In other BlackRock news, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the sale, the director now owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen Cohen sold 950 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the transaction, the director now directly owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The disclosure for this sale can be found here. In the last three months, insiders sold 79,093 shares of company stock worth $64,108,533. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

A number of large investors have recently bought and sold shares of BLK. Tennessee Valley Asset Management Partners acquired a new stake in shares of BlackRock during the fourth quarter valued at $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 purchased a new stake in shares of BlackRock during the fourth quarter worth about $28,000. Finally, LFA Lugano Financial Advisors SA raised its position in shares of BlackRock by 208.3% in the fourth 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 during the last quarter. Institutional investors and hedge funds 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.