BlackRock (NYSE:BLK) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of BlackRock (NYSE:BLK) in a research note released on Tuesday. The brokerage issued a hold rating on the asset manager’s stock.

BLK has been the topic of a number of other research reports. Citigroup increased their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Morgan Stanley raised their price target on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. TD Cowen raised their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, UBS Group cut their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $1,004.54.

BlackRock Stock Performance

BLK stock traded up $5.35 during trading hours on Tuesday, hitting $1,041.41. 15,925 shares of the stock were exchanged, compared to its average volume of 571,183. The company has a 50-day simple moving average of $947.54 and a two-hundred day simple moving average of $857.04. The firm has a market capitalization of $154.26 billion, a P/E ratio of 25.57, a P/E/G ratio of 1.78 and a beta of 1.30. BlackRock has a 12 month low of $650.63 and a 12 month high of $1,057.51. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the previous year, the company earned $10.91 EPS. The business’s revenue was up 14.9% on a year-over-year basis. On average, analysts forecast that BlackRock will post 42.94 earnings per share for the current fiscal year.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $875.03, for a total value of $10,500,360.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,670,194.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 35,061 shares of company stock valued at $30,734,840 in the last 90 days. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackRock

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marino Stram & Associates LLC lifted its position in shares of BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after acquiring an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC boosted its stake in BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after purchasing an additional 11 shares during the period. Ballentine Partners LLC lifted its holdings in shares of BlackRock by 0.3% in the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after buying an additional 11 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in BlackRock by 0.4% during the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after acquiring an additional 11 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in BlackRock by 0.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock worth $1,447,000 after acquiring an additional 11 shares during the period. 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.