StockNews.com Begins Coverage on BlackRock (NYSE:BLK)

StockNews.com started coverage on shares of BlackRock (NYSE:BLK) in a research note published on Sunday. The brokerage issued a hold rating on the asset manager’s stock.

BLK has been the topic of several other reports. Morgan Stanley increased their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen boosted their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays increased their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group lifted their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average target price of $995.31.

BlackRock Trading Up 0.0 %

BLK stock opened at $1,000.64 on Friday. BlackRock has a 52-week low of $596.18 and a 52-week high of $1,032.00. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market cap of $148.70 billion, a P/E ratio of 25.43, a PEG ratio of 1.94 and a beta of 1.30. The company’s 50-day simple moving average is $921.62 and its 200-day simple moving average is $840.57.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 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 return on equity of 15.44% and a net margin of 32.36%. BlackRock’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company earned $10.91 earnings per share. As a group, equities analysts forecast that BlackRock will post 41.73 EPS for the current fiscal year.

Insider Activity

In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other BlackRock news, Director Mark Wiedman sold 11,061 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,527,116. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock valued at $56,857,777 in the last 90 days. Company insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

Several institutional investors have recently added to or reduced their stakes in BLK. First Hawaiian Bank acquired a new position in BlackRock during the 1st quarter worth about $200,000. RFG Advisory LLC boosted its stake in shares of BlackRock by 3.2% in the first quarter. RFG Advisory LLC now owns 1,627 shares of the asset manager’s stock valued at $1,356,000 after purchasing an additional 50 shares during the period. International Assets Investment Management LLC grew its holdings in shares of BlackRock by 10.5% in the first quarter. International Assets Investment Management LLC now owns 874 shares of the asset manager’s stock valued at $722,000 after purchasing an additional 83 shares in the last quarter. AdvisorNet Financial Inc increased its stake in BlackRock by 32.8% during the 1st quarter. AdvisorNet Financial Inc now owns 498 shares of the asset manager’s stock worth $415,000 after buying an additional 123 shares during the period. Finally, Austin Private Wealth LLC lifted its holdings in BlackRock by 13.1% during the 1st quarter. Austin Private Wealth LLC now owns 424 shares of the asset manager’s stock worth $345,000 after buying an additional 49 shares in the last quarter. Institutional investors and hedge funds 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.