BlackRock (NYSE:BLK) Shares Down 0.8%

BlackRock, Inc. (NYSE:BLK)’s stock price fell 0.8% during mid-day trading on Tuesday . The stock traded as low as $753.96 and last traded at $757.16. 153,003 shares traded hands during trading, a decline of 75% from the average session volume of 620,798 shares. The stock had previously closed at $762.99.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BLK shares. 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. Morgan Stanley boosted their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group increased 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. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $811.43.

BlackRock Stock Performance

The firm has a market capitalization of $112.29 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 1.65 and a beta of 1.37. 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 business’s 50 day simple moving average is $808.48 and its two-hundred day simple moving average is $754.48.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion during 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 company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $7.93 EPS. Research analysts expect that BlackRock, Inc. will post 41.35 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackRock

In other BlackRock news, insider Marc D. Comerchero sold 450 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the transaction, the insider now owns 5,975 shares of the company’s stock, valued at approximately $4,691,032.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Marc D. Comerchero sold 450 shares of the 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 transaction, the insider now directly owns 5,975 shares in the company, valued at $4,691,032.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Christopher J. Meade sold 18,000 shares of the 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 transaction, the general counsel now owns 11,914 shares in the company, valued at $3,366,142.24. The disclosure for this sale can be found here. Insiders sold 100,511 shares of company stock valued at $71,864,028 in the last 90 days. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BLK. Abacus Planning Group Inc. raised its position in BlackRock by 4.0% during the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock worth $271,000 after buying an additional 13 shares during the last quarter. Knuff & Co LLC raised its position in 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. raised its position in BlackRock by 3.2% during the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock worth $365,000 after buying an additional 14 shares during the last quarter. Spreng Capital Management Inc. raised its position in BlackRock by 1.1% during the 4th quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock worth $1,079,000 after buying an additional 14 shares during the last quarter. Finally, Magellan Asset Management Ltd raised its position in BlackRock by 3.6% during the 4th quarter. Magellan Asset Management Ltd now owns 404 shares of the asset manager’s stock worth $328,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors 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.