BlackRock (NYSE:BLK) Stock Price Up 0.9%

BlackRock, Inc. (NYSE:BLK)’s stock price was up 0.9% during mid-day trading on Thursday . The stock 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.

Analysts Set New Price Targets

Several research analysts recently issued reports on BLK shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Morgan Stanley boosted their target price on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. boosted their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Finally, UBS Group boosted their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Price Performance

The business has a fifty day moving average price of $806.88 and a 200-day moving average price of $755.19. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $111.90 billion, a PE ratio of 19.33, a PEG ratio of 1.55 and a beta of 1.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the prior year, the business earned $7.93 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts expect that BlackRock, Inc. will post 41.26 EPS for the current fiscal year.

Insider Activity

In other news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,511 shares of company stock valued at $71,864,028. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors raised its position in BlackRock by 23.7% during the 4th quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock valued at $3,181,346,000 after purchasing an additional 749,654 shares during the last quarter. Capital World Investors raised its position in BlackRock by 57.3% during the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after purchasing an additional 1,279,952 shares during the last quarter. Morgan Stanley raised its position in BlackRock by 3.2% during the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after purchasing an additional 104,844 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of BlackRock by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock worth $2,148,586,000 after acquiring an additional 35,161 shares in the last quarter. Finally, Capital International Investors lifted its stake in shares of BlackRock by 2.4% in the 4th quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock valued at $2,006,490,000 after purchasing an additional 58,681 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.