BlackRock, Inc. (NYSE:BLK – Get Free Report) was up 0.8% during trading on Tuesday . The stock traded as high as $769.27 and last traded at $766.27. Approximately 102,897 shares traded hands during trading, a decline of 83% from the average daily volume of 623,260 shares. The stock had previously closed at $760.11.
Analyst Ratings Changes
Several research analysts have commented on BLK shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Morgan Stanley boosted their target price 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. UBS Group boosted their target price on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. boosted 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. Finally, TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $845.42.
BlackRock Price Performance
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 firm has a fifty day moving average of $803.96 and a two-hundred day moving average of $759.31. The stock has a market capitalization of $114.19 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.55 and a beta of 1.37.
BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $7.93 earnings per share. On average, analysts predict that BlackRock, Inc. will post 41.19 EPS for the current year.
Insiders Place Their Bets
In other BlackRock news, Director J. Richard Kushel sold 3,418 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $781.11, for a total value of $2,669,833.98. Following the completion of the transaction, the director now directly owns 70,378 shares in the company, valued at $54,972,959.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director J. Richard Kushel sold 3,418 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the transaction, the director now owns 70,378 shares in the company, valued at $54,972,959.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $29,498,425.54. Following the transaction, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,511 shares of company stock worth $66,778,367. 0.90% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On BlackRock
Hedge funds have recently modified their holdings of the stock. Tennessee Valley Asset Management Partners purchased a new stake in BlackRock in the fourth quarter valued at approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in BlackRock in the first quarter valued at approximately $27,000. Private Wealth Management Group LLC purchased a new stake in BlackRock in the fourth quarter valued at approximately $28,000. Pineridge Advisors LLC purchased a new stake in BlackRock in the fourth quarter valued at approximately $28,000. Finally, LFA Lugano Financial Advisors SA boosted its position in 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.