BlackRock (NYSE:BLK) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of BlackRock (NYSE:BLK) in a report issued on Sunday morning. The firm issued a hold rating on the asset manager’s stock.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group lifted their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company increased their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. TD Cowen lifted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley raised their target price 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. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $995.31.

BlackRock Stock Down 1.3 %

BLK stock opened at $988.16 on Friday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $924.23 and its 200 day simple moving average is $841.60. The stock has a market cap of $146.84 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. BlackRock has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the previous year, the firm posted $10.91 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts predict that BlackRock will post 41.73 EPS for the current year.

Insider Transactions at BlackRock

In other BlackRock news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The trade was 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. In related news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 11,061 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,527,116. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,042 shares of company stock valued at $56,857,777. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BlackRock

Several institutional investors have recently modified their holdings of the business. Redmont Wealth Advisors LLC bought a new stake in BlackRock in the first quarter valued at approximately $27,000. Fairscale Capital LLC acquired a new stake in BlackRock during the 2nd quarter worth approximately $31,000. Chilton Capital Management LLC bought a new position in BlackRock in the first quarter valued at approximately $38,000. MFA Wealth Advisors LLC boosted its holdings in shares of BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the period. Finally, Olistico Wealth LLC acquired a new stake in shares of BlackRock during the second quarter worth $53,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

About BlackRock

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.