BlackRock (NYSE:BLK) Trading 0.5% Higher

BlackRock, Inc. (NYSE:BLK - Get Free Report) shares were up 0.5% during trading on Monday . The company traded as high as $770.49 and last traded at $767.92. Approximately 115,799 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 615,251 shares. The stock had previously closed at $763.91.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BLK shares. TD Cowen raised BlackRock from a "market perform" rating to an "outperform" rating and increased their target price for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Morgan Stanley increased their target price 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. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $742.00 to $767.00 and gave the stock a "neutral" rating in a report on Tuesday, April 2nd. Finally, UBS Group raised their price objective 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and a consensus target price of $845.42.

BlackRock Stock Up 1.4 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The company's 50-day moving average is $797.35 and its two-hundred day moving average is $766.29. The company has a market cap of $115.37 billion, a P/E ratio of 19.52, a P/E/G ratio of 1.58 and a beta of 1.37.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company had revenue of $4.73 billion for the quarter, compared to analysts' expectations of $4.65 billion. During the same quarter last year, the company posted $7.93 earnings per share. The firm's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts predict that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insider Transactions at BlackRock

In other news, General Counsel Christopher J. Meade sold 3,100 shares of BlackRock stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the transaction, the general counsel now owns 8,628 shares in the company, valued at approximately $6,849,424.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Christopher J. Meade sold 3,100 shares of BlackRock stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the transaction, the general counsel now owns 8,628 shares in the company, valued at approximately $6,849,424.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen Cohen sold 950 shares of BlackRock stock in a transaction on Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the transaction, the director now owns 4,437 shares in the company, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. Insiders have sold 71,087 shares of company stock worth $57,814,366 in the last 90 days. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BLK. Norges Bank purchased a new position in shares of BlackRock during the 4th quarter valued at $1,812,920,000. Capital World Investors lifted 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 valued at $2,853,517,000 after buying an additional 1,279,952 shares in the last quarter. Capital Research Global Investors increased its holdings in 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 acquiring an additional 749,654 shares during the last quarter. International Assets Investment Management LLC increased its holdings 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 acquiring an additional 641,128 shares during the last quarter. Finally, Mayflower Financial Advisors LLC increased its holdings in BlackRock by 24,171.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager's stock valued at $346,831,000 after acquiring an additional 414,300 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.