BlackRock (NYSE:BLK) Stock Price Up 0.9%

BlackRock, Inc. (NYSE:BLK) rose 0.9% on Thursday . The company traded as high as $761.23 and last traded at $760.63. Approximately 100,040 shares were traded during trading, a decline of 84% from the average daily volume of 620,208 shares. The stock had previously closed at $753.79.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BLK shares. 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 report on Friday, April 12th. JPMorgan Chase & Co. raised their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Morgan Stanley lifted their price objective 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. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Stock Up 0.4 %

The company has a market cap of $111.70 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 1.56 and a beta of 1.37. 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 fifty day moving average price of $805.02 and a two-hundred day moving average price of $755.87.

BlackRock (NYSE:BLK) last issued 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 business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $7.93 EPS. On average, research analysts expect that BlackRock, Inc. will post 41.19 EPS for the current year.

Insider Buying and Selling

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the sale, the chief executive officer now owns 414,146 shares in the company, valued at approximately $335,425,128.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other BlackRock news, 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 value of $25,089,701.76. Following the transaction, the chief executive officer now 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 the SEC website. Also, CFO Martin Small sold 7,036 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $786.36, for a total value of $5,532,828.96. Following the sale, the chief financial officer now directly owns 5,259 shares of the company’s stock, valued at $4,135,467.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,511 shares of company stock worth $71,864,028. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC purchased a new position in BlackRock in the 1st quarter worth approximately $27,000. Tennessee Valley Asset Management Partners purchased a new position in BlackRock in the fourth quarter worth $27,000. Private Wealth Management Group LLC bought a new position in BlackRock in the fourth quarter valued at $28,000. Pineridge Advisors LLC purchased a new stake in BlackRock during the fourth quarter valued at about $28,000. Finally, LFA Lugano Financial Advisors SA boosted its holdings in shares of BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after purchasing an additional 25 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

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.