BlackRock, Inc. (NYSE:BLK) Receives Consensus Rating of “Moderate Buy” from Brokerages

BlackRock, Inc. (NYSE:BLKGet Free Report) has received an average rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $845.42.

Several brokerages have recently issued reports on BLK. Morgan Stanley boosted their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Finally, UBS Group lifted their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th.

Read Our Latest Stock Analysis on BLK

BlackRock Stock Performance

BLK stock opened at $790.33 on Thursday. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. BlackRock has a twelve month low of $596.18 and a twelve month high of $845.00. The business’s fifty day moving average is $794.94 and its 200-day moving average is $772.26. The company has a market cap of $117.71 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 1.64 and a beta of 1.37.

BlackRock (NYSE:BLKGet Free Report) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the company earned $7.93 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts forecast that BlackRock will post 41.35 EPS for the current year.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 36,059 shares of the firm’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 transaction of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction that occurred on 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 directly owns 17,004 shares in the company, valued at $13,910,292.24. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Trading of BlackRock

Several large investors have recently modified their holdings of BLK. Abacus Planning Group Inc. increased its stake in BlackRock by 4.0% in the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after acquiring an additional 13 shares during the last quarter. Knuff & Co LLC lifted its position in shares of BlackRock by 48.1% during the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after buying an additional 13 shares during the last quarter. Everhart Financial Group Inc. boosted its stake in BlackRock by 3.2% in the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after buying an additional 14 shares in the last quarter. Spreng Capital Management Inc. raised its stake in BlackRock by 1.1% during the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock worth $1,079,000 after acquiring an additional 14 shares in the last quarter. Finally, Accurate Wealth Management LLC boosted its stake in shares of BlackRock by 1.4% in the 1st quarter. Accurate Wealth Management LLC now owns 1,007 shares of the asset manager’s stock valued at $840,000 after purchasing an additional 14 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Company Profile

(Get Free Report

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.

Featured Articles

Analyst Recommendations for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.