BlackRock (NYSE:BLK) Shares Up 0.8%

BlackRock, Inc. (NYSE:BLK) shares shot up 0.8% during mid-day trading on Tuesday . The stock traded as high as $769.27 and last traded at $766.27. 102,897 shares were traded during trading, a decline of 83% from the average session volume of 623,260 shares. The stock had previously closed at $760.11.

Analyst Upgrades and Downgrades

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

BlackRock Trading Up 1.0 %

The company has a market cap of $114.33 billion, a PE ratio of 19.47, a PEG ratio of 1.55 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 stock has a 50 day moving average price of $804.19 and a 200 day moving average price of $758.48.

BlackRock (NYSE:BLK) last released 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. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $7.93 EPS. Sell-side analysts predict that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,511 shares of company stock worth $66,778,367. 0.90% of the stock is owned by insiders.

Institutional Trading of BlackRock

Institutional investors and hedge funds have recently modified their holdings of the business. Emerald Advisors LLC increased its holdings in shares of BlackRock by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock worth $851,000 after purchasing an additional 26 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of 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 worth $712,000 after acquiring an additional 21 shares during the period. McGlone Suttner Wealth Management Inc. grew its holdings in shares of BlackRock by 8.5% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after acquiring an additional 60 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of BlackRock in the fourth quarter worth $439,000. Finally, Patten & Patten Inc. TN bought a new stake in shares of BlackRock in the fourth quarter worth $205,000. Institutional investors 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.