BlackRock (NYSE:BLK) Stock Price Up 0.5%

BlackRock, Inc. (NYSE:BLK) shot up 0.5% during trading on Monday . The stock traded as high as $770.49 and last traded at $767.92. 115,799 shares were traded during trading, a decline of 81% from the average session volume of 615,251 shares. The stock had previously closed at $763.91.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BLK shares. JPMorgan Chase & Co. increased their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. UBS Group increased their price objective on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley boosted their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target 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 stock has a market cap of $115.92 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. The business’s 50-day simple moving average is $796.34 and its two-hundred day simple moving average is $768.53.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 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 the consensus estimate of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $7.93 EPS. Research analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Insider Transactions at BlackRock

In other news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Stephen Cohen sold 950 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the transaction, the director now directly owns 4,437 shares in the company, valued at approximately $3,574,225.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was 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. Insiders sold a total of 67,987 shares of company stock worth $55,353,400 over the last three months. 0.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Abacus Planning Group Inc. boosted its stake in BlackRock by 4.0% during the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after purchasing an additional 13 shares during the last quarter. Knuff & Co LLC lifted its stake in BlackRock by 48.1% during the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 13 shares during the period. Everhart Financial Group Inc. grew its stake in shares of BlackRock by 3.2% in the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock worth $365,000 after acquiring an additional 14 shares during the period. Spreng Capital Management Inc. boosted its holdings in BlackRock by 1.1% in the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock worth $1,079,000 after purchasing an additional 14 shares during the last quarter. Finally, Magellan Asset Management Ltd lifted its holdings in shares of BlackRock by 3.6% during the 4th quarter. Magellan Asset Management Ltd now owns 404 shares of the asset manager’s stock valued at $328,000 after buying an additional 14 shares during the period. 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.