BlackRock (NYSE:BLK) Stock Price Up 0.3%

Shares of BlackRock, Inc. (NYSE:BLK) rose 0.3% during mid-day trading on Wednesday . The stock traded as high as $758.44 and last traded at $757.01. Approximately 93,500 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 615,440 shares. The stock had previously closed at $754.64.

Wall Street Analysts Forecast Growth

BLK has been the topic of several recent research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. UBS Group lifted their price target 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. Morgan Stanley boosted their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

BlackRock Stock 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 stock has a market cap of $112.91 billion, a P/E ratio of 19.25, a P/E/G ratio of 1.58 and a beta of 1.37. The stock’s fifty day simple moving average is $800.56 and its 200-day simple moving average is $763.59.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $7.93 EPS. As a group, research analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Stephen Cohen sold 950 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the transaction, the director now owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, General Counsel Christopher J. Meade sold 3,100 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the completion of the transaction, the general counsel now owns 8,628 shares of the company’s stock, valued at $6,849,424.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen Cohen sold 950 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $805.55, for a total transaction of $765,272.50. Following the transaction, the director now directly owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,511 shares of company stock worth $66,778,367. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On BlackRock

Several large investors have recently modified their holdings of BLK. Emerald Advisors LLC increased its position in shares of BlackRock by 2.5% during the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock worth $851,000 after buying an additional 26 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in BlackRock by 1.9% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock worth $712,000 after purchasing an additional 21 shares during the period. McGlone Suttner Wealth Management Inc. grew its holdings in BlackRock by 8.5% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after purchasing an additional 60 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in BlackRock in the fourth quarter worth $439,000. Finally, Patten & Patten Inc. TN acquired a new stake in BlackRock in the fourth quarter worth $205,000. 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.