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

Analysts at StockNews.com assumed coverage on shares of BlackRock (NYSE:BLK) in a report released on Thursday. The brokerage set a “hold” rating on the asset manager’s stock.

A number of other equities analysts have also recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley increased their price target on BlackRock from $1,245.00 to $1,261.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Barclays dropped their price objective on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Evercore ISI increased their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,103.33.

BlackRock Stock Performance

BlackRock stock opened at $1,004.23 on Thursday. The firm has a market capitalization of $155.54 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28. BlackRock has a one year low of $745.55 and a one year high of $1,082.45. The stock’s 50 day moving average price is $1,028.03 and its 200 day moving average price is $944.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 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 22.6% compared to the same quarter last year. During the same period in the previous year, the company posted $9.66 earnings per share. As a group, sell-side analysts expect that BlackRock will post 43.02 EPS for the current fiscal year.

Insider Transactions at BlackRock

In other news, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Oddo BHF Asset Management Sas acquired a new position in shares of BlackRock during the third quarter worth approximately $518,000. Erste Asset Management GmbH acquired a new stake in BlackRock in the third quarter worth about $32,904,000. Raymond James Trust N.A. grew its position in BlackRock by 2.3% in the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock valued at $25,724,000 after buying an additional 614 shares in the last quarter. MML Investors Services LLC increased its stake in BlackRock by 2.8% during the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock valued at $65,010,000 after buying an additional 1,852 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its stake in shares of BlackRock by 20.4% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after acquiring an additional 565 shares during the period. 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.