BlackRock (NYSE:BLK) Trading Down 0.8%

BlackRock, Inc. (NYSE:BLK)’s stock price was down 0.8% during trading on Tuesday . The stock traded as low as $753.96 and last traded at $757.16. Approximately 153,003 shares were traded during trading, a decline of 75% from the average daily volume of 620,798 shares. The stock had previously closed at $762.99.

Analysts Set New Price Targets

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

BlackRock Trading Up 0.5 %

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 capitalization of $112.26 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 1.55 and a beta of 1.37. The business’s 50-day simple moving average is $806.88 and its 200-day simple moving average is $755.19.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the company posted $7.93 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. On average, research analysts expect that BlackRock, Inc. will post 41.26 earnings per share for the current fiscal year.

Insider Activity at BlackRock

In related news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the sale, the general counsel now directly owns 11,914 shares in the company, valued at approximately $3,366,142.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the sale, the general counsel now directly owns 11,914 shares in the company, valued at approximately $3,366,142.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rachel Lord sold 36,059 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were 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 owns 17,004 shares in the company, valued at $13,910,292.24. The disclosure for this sale can be found here. Insiders have sold 100,511 shares of company stock worth $71,864,028 in the last ninety days. Company insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

Hedge funds have recently bought and sold shares of the stock. Tennessee Valley Asset Management Partners bought a new position in shares of BlackRock during the 4th quarter worth approximately $27,000. Private Wealth Management Group LLC bought a new position in shares of BlackRock during the 4th quarter worth approximately $28,000. Pineridge Advisors LLC bought a new position in shares of BlackRock during the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA grew its stake in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after acquiring an additional 25 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of BlackRock during the 4th quarter worth approximately $32,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

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.