BlackRock (NYSE:BLK) Earns Hold Rating from Analysts at StockNews.com

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

A number of other brokerages also recently weighed in on BLK. JPMorgan Chase & Co. increased their price target on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. TD Cowen lifted their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Evercore ISI increased their price target on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays lifted their price objective on shares of BlackRock from $1,120.00 to $1,220.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Morgan Stanley increased their target price on shares of BlackRock from $1,245.00 to $1,261.00 and gave the stock an “overweight” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,040.50.

BlackRock Stock Performance

NYSE BLK opened at $1,028.69 on Monday. The firm’s fifty day moving average price is $1,023.10 and its two-hundred day moving average price is $915.10. The stock has a market cap of $159.32 billion, a PE ratio of 25.39, a PEG ratio of 1.92 and a beta of 1.28. 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 has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $10.91 earnings per share. On average, equities analysts expect that BlackRock will post 43.18 EPS for the current fiscal year.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the transaction, the director now owns 6,480 shares in the company, valued at $6,777,432. The trade was a 84.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were 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 of the company’s stock, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

A number of hedge funds have recently modified their holdings of the stock. Patriot Financial Group Insurance Agency LLC raised its stake in BlackRock by 3.0% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,150 shares of the asset manager’s stock valued at $905,000 after acquiring an additional 33 shares during the period. Rosenberg Matthew Hamilton raised its position in shares of BlackRock by 4.4% in the second quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock valued at $243,000 after purchasing an additional 13 shares during the period. Strategic Blueprint LLC lifted its stake in shares of BlackRock by 19.1% during the 2nd quarter. Strategic Blueprint LLC now owns 673 shares of the asset manager’s stock valued at $530,000 after buying an additional 108 shares in the last quarter. HB Wealth Management LLC boosted its holdings in BlackRock by 3.2% in the 2nd quarter. HB Wealth Management LLC now owns 3,417 shares of the asset manager’s stock worth $2,691,000 after buying an additional 105 shares during the period. Finally, Financial Advocates Investment Management grew its stake in BlackRock by 8.4% in the 2nd quarter. Financial Advocates Investment Management now owns 1,466 shares of the asset manager’s stock valued at $1,154,000 after buying an additional 114 shares in the last quarter. 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.