BlackRock (NYSE:BLK) Coverage Initiated by Analysts at StockNews.com

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

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods upped their target price on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Wells Fargo & Company upped their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Morgan Stanley raised their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays raised their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, TD Cowen raised their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $995.31.

BlackRock Stock Up 2.3 %

BLK opened at $1,013.87 on Tuesday. The company has a fifty day moving average price of $944.72 and a 200-day moving average price of $855.82. The firm has a market capitalization of $150.18 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 1.77 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock has a one year low of $646.91 and a one year high of $1,032.00.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $10.91 EPS. Equities research analysts expect that BlackRock will post 42.94 earnings per share for the current fiscal year.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 35,061 shares of company stock worth $30,734,840. Company insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

Several institutional investors and hedge funds have recently bought and sold shares of BLK. Norden Group LLC lifted its holdings in BlackRock by 38.5% in the first quarter. Norden Group LLC now owns 648 shares of the asset manager’s stock worth $540,000 after buying an additional 180 shares during the period. Nordea Investment Management AB lifted its holdings in BlackRock by 5.2% in the first quarter. Nordea Investment Management AB now owns 10,742 shares of the asset manager’s stock worth $8,992,000 after buying an additional 529 shares during the period. FORA Capital LLC purchased a new stake in BlackRock in the first quarter worth about $255,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in BlackRock by 31.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,706 shares of the asset manager’s stock worth $2,256,000 after buying an additional 654 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of BlackRock by 161.0% during the first quarter. Larson Financial Group LLC now owns 381 shares of the asset manager’s stock valued at $318,000 after purchasing an additional 235 shares during 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.