BlackRock (NYSE:BLK) PT Raised to $1,025.00 at Morgan Stanley

BlackRock (NYSE:BLK) had its price objective hoisted by Morgan Stanley from $1,013.00 to $1,025.00 in a research report released on Monday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the asset manager’s stock.

BLK has been the topic of several other reports. Keefe, Bruyette & Woods reaffirmed an outperform rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. UBS Group raised their price objective on BlackRock from $818.00 to $850.00 and gave the company a neutral rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on BlackRock from $742.00 to $767.00 and gave the company a neutral rating in a research report on Tuesday, April 2nd. Finally, TD Cowen raised BlackRock from a market perform rating to an outperform rating and raised their price objective for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $811.43.

BlackRock Trading Down 0.1 %

Shares of BLK opened at $762.99 on Monday. 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 firm has a market capitalization of $113.64 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 1.65 and a beta of 1.37. The stock’s fifty day simple moving average is $808.48 and its 200 day simple moving average is $754.48. BlackRock has a twelve month low of $596.18 and a twelve month high of $845.00.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company posted $7.93 EPS. On average, equities research analysts forecast that BlackRock will post 41.35 earnings per share for the current year.

Insider Transactions at BlackRock

In other news, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the sale, the general counsel now directly owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Stephen Cohen sold 950 shares of BlackRock stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the transaction, the director now directly owns 4,437 shares in the company, valued at $3,574,225.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the transaction, the general counsel now owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,511 shares of company stock valued at $71,864,028. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BlackRock

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Emerald Advisors LLC boosted its stake in BlackRock by 2.5% in the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after acquiring an additional 26 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in BlackRock by 1.9% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after acquiring an additional 21 shares during the period. McGlone Suttner Wealth Management Inc. boosted its stake in BlackRock by 8.5% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after acquiring an additional 60 shares during the period. Patten & Patten Inc. TN acquired a new position in BlackRock in the fourth quarter valued at approximately $205,000. Finally, Sara Bay Financial acquired a new position in BlackRock in the fourth quarter valued at approximately $387,000. 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.