BlackRock (NYSE:BLK) Stock Price Down 1.6%

BlackRock, Inc. (NYSE:BLK)’s share price fell 1.6% during mid-day trading on Thursday . The stock traded as low as $748.02 and last traded at $750.48. 130,973 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 623,143 shares. The stock had previously closed at $762.80.

Analyst Upgrades and Downgrades

BLK has been the topic of several recent analyst reports. TD Cowen raised shares of 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 note on Tuesday, January 16th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Morgan Stanley raised their price target 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. Finally, UBS Group raised their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Stock Up 0.7 %

The business’s 50 day moving average is $802.08 and its 200 day moving average is $760.15. The company has a market capitalization of $113.62 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.57 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping 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 net margin of 32.26% and a return on equity of 15.34%. BlackRock’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the business earned $7.93 EPS. Sell-side analysts anticipate that BlackRock, Inc. will post 41.19 earnings per share for the current year.

Insider Buying and Selling at BlackRock

In other BlackRock news, insider Marc D. Comerchero sold 450 shares of BlackRock stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the sale, the insider now directly owns 5,975 shares in the company, valued at approximately $4,691,032.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other BlackRock news, insider Marc D. Comerchero sold 450 shares of BlackRock stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the sale, the insider now directly owns 5,975 shares in the company, valued at approximately $4,691,032.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 3,418 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total transaction of $2,669,833.98. Following the completion of the transaction, the director now owns 70,378 shares of the company’s stock, valued at $54,972,959.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,511 shares of company stock worth $66,778,367. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On BlackRock

Several large investors have recently made changes to their positions in the company. Capital Research Global Investors lifted its stake in shares of BlackRock by 23.7% in 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 purchasing an additional 749,654 shares during the period. Capital World Investors increased its holdings in BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after acquiring an additional 1,279,952 shares in the last quarter. Morgan Stanley increased its holdings in BlackRock by 3.2% in the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock worth $2,178,048,000 after acquiring an additional 104,844 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in BlackRock by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock worth $2,148,586,000 after acquiring an additional 35,161 shares in the last quarter. Finally, Capital International Investors increased its holdings in BlackRock by 2.4% in the 4th quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after acquiring an additional 58,681 shares in the last quarter. 80.69% of the stock is currently 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.