BlackRock (NYSE:BLK) Trading 0.9% Higher

BlackRock, Inc. (NYSE:BLK)’s stock price shot up 0.9% during trading on Thursday . The company traded as high as $761.23 and last traded at $760.63. 100,040 shares were traded during trading, a decline of 84% from the average session volume of 620,208 shares. The stock had previously closed at $753.79.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BLK shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Morgan Stanley upped their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. JPMorgan Chase & Co. upped their price target on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, UBS Group lifted their price objective on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average price target of $845.42.

BlackRock Stock Up 0.4 %

The business’s 50-day moving average is $805.02 and its two-hundred day moving average is $755.87. The firm has a market capitalization of $111.70 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 1.56 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48.

BlackRock (NYSE:BLK) last posted 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 company had revenue of $4.73 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business posted $7.93 earnings per share. On average, equities analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Insider Buying and Selling

In other BlackRock news, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $785.11, for a total value of $353,299.50. Following the completion of the transaction, the insider now directly owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other BlackRock news, insider Marc D. Comerchero sold 450 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the sale, the insider now directly owns 5,975 shares in the company, valued at approximately $4,691,032.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction 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 approximately $3,366,142.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,511 shares of company stock valued at $71,864,028. 0.90% of the stock is owned by company insiders.

Institutional Trading of BlackRock

Several hedge funds and other institutional investors have recently modified their holdings of BLK. Emerald Advisors LLC raised its position in BlackRock by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after buying an additional 26 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position 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 purchasing an additional 21 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in BlackRock by 8.5% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after buying an additional 60 shares during the last quarter. Patten & Patten Inc. TN bought a new stake in BlackRock during the 4th quarter worth about $205,000. Finally, Sara Bay Financial acquired a new position in shares of BlackRock during the 4th quarter worth about $387,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

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.