BlackRock (NYSE:BLK) Shares Down 0.2%

Shares of BlackRock, Inc. (NYSE:BLK) were down 0.2% on Monday . The stock traded as low as $760.38 and last traded at $761.49. Approximately 97,801 shares were traded during trading, a decline of 84% from the average daily volume of 619,189 shares. The stock had previously closed at $762.88.

Wall Street Analyst Weigh In

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

BlackRock Stock Down 0.3 %

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 50 day simple moving average of $802.08 and a 200 day simple moving average of $761.81. The stock has a market cap of $113.23 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.58 and a beta of 1.37.

BlackRock (NYSE:BLK) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the firm posted $7.93 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On BlackRock

Hedge funds have recently made changes to their positions in the stock. Exchange Traded Concepts LLC boosted its holdings in shares of BlackRock by 671.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after purchasing an additional 47 shares in the last quarter. Manning & Napier Group LLC boosted its holdings in shares of BlackRock by 0.6% in the 3rd quarter. Manning & Napier Group LLC now owns 3,997 shares of the asset manager’s stock worth $2,584,000 after purchasing an additional 22 shares in the last quarter. Avestar Capital LLC lifted its stake in shares of BlackRock by 30.1% in the 3rd quarter. Avestar Capital LLC now owns 458 shares of the asset manager’s stock valued at $296,000 after acquiring an additional 106 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of BlackRock by 1.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 42,689 shares of the asset manager’s stock valued at $27,598,000 after acquiring an additional 675 shares during the last quarter. Finally, FAS Wealth Partners Inc. lifted its stake in shares of BlackRock by 4.7% in the 3rd quarter. FAS Wealth Partners Inc. now owns 843 shares of the asset manager’s stock valued at $545,000 after acquiring an additional 38 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

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.