BlackRock (NYSE:BLK) Reaches New 1-Year Low - Should You Sell?

BlackRock, Inc. (NYSE:BLK - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $893.94 and last traded at $914.67, with a volume of 1020260 shares changing hands. The stock had previously closed at $920.52.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BLK shares. Barclays lifted their price objective on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Keefe, Bruyette & Woods decreased their price target on shares of BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating for the company in a research note on Monday, January 13th. UBS Group cut their price objective on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. StockNews.com assumed coverage on BlackRock in a research report on Wednesday, April 30th. They issued a "hold" rating for the company. Finally, TD Cowen reduced their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,077.08.

BlackRock Stock Performance

The company has a market capitalization of $142.23 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The business's fifty day moving average is $916.05 and its two-hundred day moving average is $980.40.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the company posted $9.81 earnings per share. The company's quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current year.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 2,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now directly owns 66,034 shares in the company, valued at approximately $56,261,628.34. The trade was a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 12,430 shares of company stock worth $11,237,249 over the last quarter. Company insiders own 1.98% of the company's stock.

Institutional Trading of BlackRock

A number of hedge funds and other institutional investors have recently bought and sold shares of BLK. IAG Wealth Partners LLC purchased a new stake in BlackRock in the 4th quarter worth $26,000. Investment Management Corp VA ADV purchased a new stake in shares of BlackRock during the fourth quarter worth about $30,000. Fairway Wealth LLC raised its stake in BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after purchasing an additional 13 shares during the period. Collier Financial purchased a new position in BlackRock in the 4th quarter worth approximately $32,000. Finally, Compass Planning Associates Inc bought a new position in BlackRock in the 4th quarter worth approximately $33,000. 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.