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

Research analysts at StockNews.com began coverage on shares of BlackRock (NYSE:BLK) in a report issued on Saturday. The firm set a “hold” rating on the asset manager’s stock.

Other analysts have also issued reports about the stock. Citigroup upped their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. TD Cowen upped their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley lifted their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Wells Fargo & Company upped their target price on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reduced their price target on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $1,075.83 on Friday. The firm’s 50 day simple moving average is $1,026.43 and its 200-day simple moving average is $963.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock has a one year low of $745.55 and a one year high of $1,084.22. The firm has a market cap of $166.63 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the business posted $9.66 EPS. BlackRock’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, equities analysts predict that BlackRock will post 47.45 EPS for the current year.

Insider Activity at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value 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 $43,845,393.48. This trade represents a 56.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the sale, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,190 shares of company stock valued at $115,163,141 in the last three months. 0.90% of the stock is owned by insiders.

Institutional Trading of BlackRock

Several institutional investors and hedge funds have recently bought and sold shares of BLK. Global Retirement Partners LLC lifted its position in BlackRock by 21.9% during the fourth quarter. Global Retirement Partners LLC now owns 5,825 shares of the asset manager’s stock valued at $5,971,000 after purchasing an additional 1,046 shares during the period. Convergence Investment Partners LLC raised its position in shares of BlackRock by 1,003.7% in the fourth quarter. Convergence Investment Partners LLC now owns 2,406 shares of the asset manager’s stock worth $2,467,000 after acquiring an additional 2,188 shares during the period. Atlas Legacy Advisors LLC purchased a new stake in shares of BlackRock during the 4th quarter worth about $624,000. Bank of Jackson Hole Trust purchased a new position in BlackRock during the fourth quarter worth approximately $2,199,000. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of BlackRock by 9.1% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,500 shares of the asset manager’s stock valued at $4,613,000 after buying an additional 377 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

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.