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

Investment analysts at StockNews.com began coverage on shares of BlackRock (NYSE:BLK – Get Rating) in a report released on Thursday. The firm set a “hold” rating on the asset manager’s stock.

Several other equities research analysts also recently weighed in on BLK. The Goldman Sachs Group raised their target price on shares of BlackRock from $741.00 to $825.00 and gave the company a “buy” rating in a research note on Wednesday, January 4th. Credit Suisse Group raised their target price on shares of BlackRock from $540.00 to $680.00 and gave the company a “neutral” rating in a research note on Thursday, January 12th. Wells Fargo & Company initiated coverage on shares of BlackRock in a research note on Wednesday, December 14th. They issued an “overweight” rating and a $820.00 target price for the company. Bank of America lowered their target price on shares of BlackRock from $821.00 to $813.00 in a research note on Sunday, January 15th. Finally, Morgan Stanley raised their target price on shares of BlackRock from $785.00 to $828.00 and gave the company an “overweight” rating in a research note on Tuesday, January 17th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $740.92.

BlackRock Price Performance

NYSE BLK opened at $631.74 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.99 and a current ratio of 2.99. The firm’s 50 day moving average price is $718.06 and its 200-day moving average price is $681.39. BlackRock has a 52-week low of $503.12 and a 52-week high of $788.65. The company has a market cap of $94.91 billion, a PE ratio of 18.61, a P/E/G ratio of 2.12 and a beta of 1.28.

BlackRock (NYSE:BLK – Get Rating) last released its quarterly earnings data on Friday, January 13th. The asset manager reported $8.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.99 by $0.94. BlackRock had a net margin of 28.97% and a return on equity of 14.38%. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.16 billion. Sell-side analysts forecast that BlackRock will post 34.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 575 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $689.06, for a total transaction of $396,209.50. Following the completion of the transaction, the director now owns 4,670 shares of the company’s stock, valued at $3,217,910.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Marc D. Comerchero sold 650 shares of the firm’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $728.66, for a total transaction of $473,629.00. Following the completion of the transaction, the insider now owns 3,055 shares of the company’s stock, valued at $2,226,056.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director J. Richard Kushel sold 575 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $689.06, for a total transaction of $396,209.50. Following the transaction, the director now directly owns 4,670 shares of the company’s stock, valued at approximately $3,217,910.20. The disclosure for this sale can be found here. Insiders sold a total of 4,839 shares of company stock valued at $3,578,947 over the last 90 days. Insiders own 1.06% of the company’s stock.

Institutional Trading of BlackRock

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLK. Wagner Wealth Management LLC acquired a new stake in BlackRock during the second quarter valued at $25,000. Salem Investment Counselors Inc. grew its position in BlackRock by 275.0% during the third quarter. Salem Investment Counselors Inc. now owns 45 shares of the asset manager’s stock valued at $25,000 after buying an additional 33 shares during the period. Penserra Capital Management LLC grew its position in BlackRock by 78.6% during the third quarter. Penserra Capital Management LLC now owns 50 shares of the asset manager’s stock valued at $27,000 after buying an additional 22 shares during the period. Horan Securities Inc. grew its position in BlackRock by 72.7% during the fourth quarter. Horan Securities Inc. now owns 38 shares of the asset manager’s stock valued at $27,000 after buying an additional 16 shares during the period. Finally, Align Wealth Management LLC acquired a new stake in BlackRock during the fourth quarter valued at $28,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

BlackRock Company Profile

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BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Susan L.