BlackRock (NYSE:BLK) Stock Price Down 1.7%

BlackRock, Inc. (NYSE:BLK - Get Free Report) was down 1.7% on Wednesday . The company traded as low as $748.79 and last traded at $749.67. Approximately 663,071 shares changed hands during trading, an increase of 5% from the average daily volume of 632,296 shares. The stock had previously closed at $762.99.

Analyst Ratings Changes

A number of equities analysts have weighed in on BLK shares. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. TD Cowen upgraded BlackRock from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. UBS Group boosted their price objective on BlackRock from $818.00 to $850.00 and gave the stock a "neutral" rating in a report on Friday, April 12th. Morgan Stanley boosted their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the stock an "overweight" rating in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on BlackRock from $742.00 to $767.00 and gave the stock a "neutral" rating in a report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $811.43.

BlackRock Trading Up 0.5 %

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 firm has a market capitalization of $112.26 billion, a P/E ratio of 19.16, a PEG ratio of 1.53 and a beta of 1.37. The firm has a 50 day moving average of $806.88 and a 200-day moving average of $755.19.

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, beating the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The business had revenue of $4.73 billion during the quarter, compared to analysts' expectations of $4.65 billion. During the same period in the previous year, the company posted $7.93 earnings per share. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities research analysts predict that BlackRock, Inc. will post 41.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the company's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the sale, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Martin Small sold 7,036 shares of the company's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $786.36, for a total transaction of $5,532,828.96. Following the completion of the transaction, the chief financial officer now directly owns 5,259 shares in the company, valued at $4,135,467.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares of the company's stock, valued at $335,425,128.32. The disclosure for this sale can be found here. Insiders sold 100,511 shares of company stock worth $71,864,028 over the last three months. Insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Capital Research Global Investors lifted its stake in shares of 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. Capital World Investors lifted its stake in shares of BlackRock by 57.3% in 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 acquiring an additional 1,279,952 shares during the last quarter. Morgan Stanley lifted its stake in shares of BlackRock by 3.2% in the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager's stock valued at $2,178,048,000 after acquiring an additional 104,844 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of BlackRock by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager's stock valued at $2,148,586,000 after acquiring an additional 35,161 shares during the last quarter. Finally, Capital International Investors lifted its stake in shares of BlackRock by 2.4% in the 4th quarter. Capital International Investors now owns 2,471,621 shares of the asset manager's stock valued at $2,006,490,000 after acquiring an additional 58,681 shares during the last quarter. 80.69% of the stock is currently owned by 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.