BlackRock (NYSE:BLK) PT Raised to $1,025.00

BlackRock (NYSE:BLK) had its price target lifted by Morgan Stanley from $1,013.00 to $1,025.00 in a report published on Monday, Benzinga reports. Morgan Stanley currently has an overweight rating on the asset manager’s stock.

Other equities research analysts have also recently issued reports about the company. UBS Group raised their target price on BlackRock from $818.00 to $850.00 and gave the company a neutral rating in a research report on Friday, April 12th. JPMorgan Chase & Co. raised their price target 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. TD Cowen raised shares of BlackRock from a market perform rating to an outperform rating and raised their price target for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods reaffirmed an outperform rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, BlackRock currently has a consensus rating of Moderate Buy and a consensus price target of $845.42.

BlackRock Price Performance

NYSE:BLK opened at $753.75 on Monday. BlackRock has a 52 week low of $596.18 and a 52 week high of $845.00. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $112.26 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 1.53 and a beta of 1.37. The stock’s 50-day moving average price is $806.88 and its 200-day moving average price is $755.19.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period last year, the firm earned $7.93 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts expect that BlackRock will post 41.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other BlackRock news, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other BlackRock news, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc D. Comerchero sold 450 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was 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 directly owns 5,975 shares in the company, valued at $4,691,032.25. The disclosure for this sale can be found here. Insiders have sold 100,511 shares of company stock valued at $71,864,028 in the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of BlackRock

Several institutional investors have recently made changes to their positions in BLK. Norges Bank purchased a new stake in shares of BlackRock during the 4th quarter valued at approximately $1,812,920,000. Capital World Investors raised its position in shares of BlackRock by 57.3% during the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after buying an additional 1,279,952 shares during the period. Capital Research Global Investors raised its position in shares of BlackRock by 23.7% during the 4th quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock valued at $3,181,346,000 after buying an additional 749,654 shares during the period. Moneta Group Investment Advisors LLC raised its position in shares of BlackRock by 104,159.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 697,499 shares of the asset manager’s stock valued at $494,269,000 after buying an additional 696,830 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in BlackRock by 77,524.5% in the 4th quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock valued at $5,211,390,000 after purchasing an additional 641,128 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.