BlackRock (NYSE:BLK) Stock Price Down 0.7%

BlackRock, Inc. (NYSE:BLK)’s share price fell 0.7% during trading on Wednesday . The stock traded as low as $759.44 and last traded at $761.51. 162,824 shares traded hands during trading, a decline of 74% from the average session volume of 621,684 shares. The stock had previously closed at $766.62.

Analyst Upgrades and Downgrades

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

BlackRock Stock Down 0.5 %

The business has a 50-day simple moving average of $803.96 and a two-hundred day simple moving average of $759.31. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $113.61 billion, a P/E ratio of 19.35, a PEG ratio of 1.57 and a beta of 1.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping 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 firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the prior year, the firm earned $7.93 EPS. The company’s revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the transaction, 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. In related news, CFO Martin Small sold 7,036 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $786.36, for a total transaction of $5,532,828.96. Following the transaction, the chief financial officer now owns 5,259 shares of the company’s stock, valued at approximately $4,135,467.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 82,511 shares of company stock worth $66,778,367. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nikulski Financial Inc. grew its stake in shares of BlackRock by 6.8% in the 3rd quarter. Nikulski Financial Inc. now owns 314 shares of the asset manager’s stock worth $203,000 after buying an additional 20 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of BlackRock by 671.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 47 shares during the last quarter. Private Trust Co. NA lifted its position in BlackRock by 1.6% during the third quarter. Private Trust Co. NA now owns 1,118 shares of the asset manager’s stock valued at $722,000 after purchasing an additional 18 shares during the period. Caprock Group LLC raised its stake in BlackRock by 2.8% during the 3rd quarter. Caprock Group LLC now owns 1,924 shares of the asset manager’s stock valued at $1,244,000 after buying an additional 53 shares during the last quarter. Finally, Marion Wealth Management boosted its stake in shares of BlackRock by 2.8% in the 3rd quarter. Marion Wealth Management now owns 2,192 shares of the asset manager’s stock worth $1,417,000 after buying an additional 60 shares during the last quarter. 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.