BlackRock (NYSE:BLK) Trading 0.6% Higher

BlackRock, Inc. (NYSE:BLK) shares shot up 0.6% on Friday . The company traded as high as $767.48 and last traded at $762.38. 88,196 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 621,361 shares. The stock had previously closed at $757.65.

Analyst Ratings Changes

A number of research firms have weighed in on BLK. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Keefe, Bruyette & Woods restated 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. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Morgan Stanley upped their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, UBS Group upped their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Trading Up 0.7 %

The firm has a market cap of $113.62 billion, a PE ratio of 19.39, a P/E/G ratio of 1.57 and a beta of 1.37. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average price is $802.08 and its two-hundred day moving average price is $760.98.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $7.93 earnings per share. As a group, sell-side analysts forecast that BlackRock, Inc. will post 41.19 EPS for the current year.

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at approximately $335,425,128.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rachel Lord sold 36,059 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the transaction, the director now owns 17,004 shares in the company, valued at $13,910,292.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,511 shares of company stock worth $66,778,367. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors grew its holdings 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 worth $3,181,346,000 after acquiring an additional 749,654 shares in the last quarter. Capital World Investors boosted its holdings in shares of BlackRock by 57.3% in 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 buying an additional 1,279,952 shares in the last quarter. Morgan Stanley boosted its holdings in shares of BlackRock by 3.2% in the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after buying an additional 104,844 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $2,148,586,000 after buying an additional 35,161 shares in the last quarter. Finally, Capital International Investors boosted its holdings 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 buying an additional 58,681 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

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.