BlackRock (NYSE:BLK) Stock Price Up 1.4%

BlackRock, Inc. (NYSE:BLK - Get Free Report)'s stock price rose 1.4% during trading on Tuesday . The company traded as high as $786.27 and last traded at $785.86. Approximately 189,174 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 614,055 shares. The stock had previously closed at $774.64.

Wall Street Analysts Forecast Growth

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

BlackRock Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. The stock's fifty day simple moving average is $796.34 and its two-hundred day simple moving average is $768.53. The company has a market capitalization of $116.31 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 1.58 and a beta of 1.37.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $7.93 earnings per share. On average, sell-side analysts anticipate that BlackRock, Inc. will post 41.19 EPS for the current year.

Insider Activity

In other BlackRock news, General Counsel Christopher J. Meade sold 3,100 shares of the business's stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the sale, the general counsel now owns 8,628 shares in the company, valued at approximately $6,849,424.08. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, General Counsel Christopher J. Meade sold 3,100 shares of the business's stock in a transaction that occurred 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 sale, the general counsel now owns 8,628 shares in the company, valued at $6,849,424.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen Cohen sold 950 shares of the 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 completion of the sale, the director now owns 4,437 shares of the company's stock, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. Insiders sold a total of 71,087 shares of company stock valued at $57,814,366 over the last three months. Insiders own 0.90% of the company's stock.

Institutional Trading of BlackRock

A number of hedge funds have recently made changes to their positions in the stock. Tennessee Valley Asset Management Partners bought a new stake in shares of BlackRock in the 4th quarter valued at approximately $27,000. Redmont Wealth Advisors LLC bought a new position in shares of BlackRock during the 1st quarter worth about $27,000. Private Wealth Management Group LLC acquired a new position in shares of BlackRock during the fourth quarter valued at about $28,000. Pineridge Advisors LLC bought a new position in BlackRock in the fourth quarter worth $28,000. Finally, LFA Lugano Financial Advisors SA boosted its stake in BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager's stock worth $30,000 after buying an additional 25 shares in the last quarter. 80.69% of the stock is 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.