BlackRock (NYSE:BLK) Stock Price Up 1.4%

BlackRock, Inc. (NYSE:BLK) traded up 1.4% during trading on Tuesday . The stock traded as high as $786.27 and last traded at $785.86. 189,174 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 614,055 shares. The stock had previously closed at $774.64.

Wall Street Analysts Forecast Growth

BLK has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price 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. 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 note on Monday, April 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. UBS Group lifted their price target on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Stock Performance

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 stock’s 50 day moving average is $796.73 and its 200 day moving average is $767.36. The firm has a market cap of $116.31 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37.

BlackRock (NYSE:BLK) last released its quarterly 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. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the business earned $7.93 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Christopher J. Meade sold 3,100 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total value of $2,460,966.00. Following the completion of the sale, the general counsel now owns 8,628 shares in the company, valued at $6,849,424.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, General Counsel Christopher J. Meade sold 3,100 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total value of $2,460,966.00. Following the sale, the general counsel now directly owns 8,628 shares of the company’s stock, valued at $6,849,424.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rachel Lord sold 36,059 shares of BlackRock 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 sale, the director now owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,087 shares of company stock worth $57,814,366. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackRock

A number of hedge funds have recently modified their holdings of BLK. CarsonAllaria Wealth Management Ltd. raised its stake in BlackRock by 26.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 393 shares of the asset manager’s stock worth $328,000 after buying an additional 82 shares in the last quarter. Forsta AP Fonden increased its holdings in BlackRock by 9.0% in the 1st quarter. Forsta AP Fonden now owns 37,600 shares of the asset manager’s stock worth $31,347,000 after buying an additional 3,100 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in BlackRock by 45.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 11,746 shares of the asset manager’s stock valued at $9,793,000 after acquiring an additional 3,670 shares during the period. Zevenbergen Capital Investments LLC boosted its holdings in shares of BlackRock by 2.8% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 4,628 shares of the asset manager’s stock valued at $3,858,000 after acquiring an additional 125 shares during the last quarter. Finally, ClariVest Asset Management LLC increased its position in BlackRock by 186,800.0% in the first quarter. ClariVest Asset Management LLC now owns 3,738 shares of the asset manager’s stock worth $3,116,000 after buying an additional 3,736 shares in 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.