BlackRock (NYSE:BLK) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of BlackRock (NYSE:BLK) in a report released on Friday. The brokerage set a “hold” rating on the asset manager’s stock.

Several other research analysts have also issued reports on BLK. Deutsche Bank Aktiengesellschaft raised their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. The Goldman Sachs Group raised their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Evercore ISI raised their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley lifted their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Trading Down 0.7 %

BLK opened at $1,019.45 on Friday. 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 stock has a market capitalization of $157.89 billion, a PE ratio of 25.16, a PEG ratio of 1.84 and a beta of 1.30. BlackRock has a 1-year low of $725.86 and a 1-year high of $1,068.34. The firm has a 50-day moving average price of $993.05 and a two-hundred day moving average price of $886.09.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $10.91 EPS. As a group, equities analysts anticipate that BlackRock will post 43.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BLK. FSA Wealth Management LLC acquired a new stake in shares of BlackRock in the third quarter valued at approximately $26,000. Fairscale Capital LLC acquired a new stake in shares of BlackRock in the second quarter valued at approximately $31,000. Reston Wealth Management LLC acquired a new position in BlackRock during the third quarter worth $37,000. MFA Wealth Advisors LLC increased its holdings in BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares during the last quarter. Finally, Addison Advisors LLC increased its holdings in BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after buying an additional 22 shares during the last quarter. Institutional investors 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.