BlackRock (NYSE:BLK) PT Raised to $1,025.00

BlackRock (NYSE:BLK - Free Report) had its price target increased by Morgan Stanley from $1,013.00 to $1,025.00 in a research report released on Monday, Benzinga reports. They currently have an overweight rating on the asset manager's stock.

Other equities analysts also recently issued reports about the company. TD Cowen raised BlackRock from a market perform rating to an outperform rating and upped their price target for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. UBS Group upped their price target on BlackRock from $818.00 to $850.00 and gave the stock a neutral rating in a research report on Friday. JPMorgan Chase & Co. upped their target price on BlackRock from $742.00 to $767.00 and gave the company a neutral rating in a research report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods reissued an outperform rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $811.43.

BlackRock Stock Down 0.1 %

Shares of BLK stock traded down $0.41 during trading hours on Monday, reaching $762.99. 932,311 shares of the company's stock were exchanged, compared to its average volume of 627,516. The stock's 50 day moving average is $808.48 and its 200-day moving average is $754.48. The company has a market cap of $113.64 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 1.65 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. BlackRock has a fifty-two week low of $596.18 and a fifty-two week high of $845.00.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $7.93 earnings per share. Analysts predict that BlackRock will post 41.35 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Stephen Cohen sold 950 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the sale, the director now directly owns 4,437 shares of the company's stock, valued at $3,574,225.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the company's stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the sale, the general counsel now directly owns 11,914 shares of the company's stock, valued at $3,366,142.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen Cohen sold 950 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the sale, the director now directly owns 4,437 shares in the company, valued at $3,574,225.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,511 shares of company stock valued at $71,864,028. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On BlackRock

Several hedge funds have recently modified their holdings of BLK. Norges Bank purchased a new stake in shares of BlackRock during the 4th quarter worth about $1,812,920,000. Capital World Investors boosted its stake in shares of BlackRock by 57.3% during 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. Capital Research Global Investors boosted its stake in shares of BlackRock by 23.7% during the 4th quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager's stock worth $3,181,346,000 after acquiring an additional 749,654 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in BlackRock by 104,159.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 697,499 shares of the asset manager's stock valued at $494,269,000 after buying an additional 696,830 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in BlackRock by 77,524.5% in the 4th quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager's stock valued at $5,211,390,000 after buying an additional 641,128 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

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.