BlackRock (NYSE:BLK) Shares Down 0.7%

BlackRock, Inc. (NYSE:BLK) shares fell 0.7% on Wednesday . The company traded as low as $759.44 and last traded at $761.51. 162,824 shares changed hands during trading, a decline of 74% from the average session volume of 621,684 shares. The stock had previously closed at $766.62.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. JPMorgan Chase & Co. lifted their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley increased their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, UBS Group raised their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Trading Down 0.5 %

The firm has a market cap of $113.61 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The company’s 50-day moving average price is $803.96 and its 200-day moving average price is $759.31. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.93 EPS. Equities analysts expect that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 value of $29,498,425.54. Following the completion of the transaction, the director now owns 17,004 shares in the company, valued at $13,910,292.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director J. Richard Kushel sold 3,418 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the transaction, the director now owns 70,378 shares in the company, valued at approximately $54,972,959.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The disclosure for this sale can be found here. Insiders sold 82,511 shares of company stock valued at $66,778,367 in the last three months. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackRock

Institutional investors have recently bought and sold shares of the company. Nikulski Financial Inc. boosted its holdings in BlackRock by 6.8% in the 3rd quarter. Nikulski Financial Inc. now owns 314 shares of the asset manager’s stock valued at $203,000 after purchasing an additional 20 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of BlackRock by 671.4% in the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after buying an additional 47 shares in the last quarter. Private Trust Co. NA grew its holdings in BlackRock by 1.6% during the third quarter. Private Trust Co. NA now owns 1,118 shares of the asset manager’s stock worth $722,000 after acquiring an additional 18 shares during the period. Caprock Group LLC lifted its holdings in BlackRock by 2.8% in the third quarter. Caprock Group LLC now owns 1,924 shares of the asset manager’s stock valued at $1,244,000 after acquiring an additional 53 shares during the period. Finally, Marion Wealth Management boosted its position in shares of BlackRock by 2.8% during the 3rd quarter. Marion Wealth Management now owns 2,192 shares of the asset manager’s stock worth $1,417,000 after purchasing an additional 60 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

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.