Research analysts at StockNews.com assumed coverage on shares of BlackRock (NYSE:BLK – Get Free Report) in a research note issued on Thursday. The firm set a “hold” rating on the asset manager’s stock.
BLK has been the topic of a number of other research reports. TD Cowen reduced their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. UBS Group cut their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Citigroup upped their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Argus increased their price objective on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Evercore ISI increased their price objective on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $902.13.
BlackRock Price Performance
Shares of BlackRock stock traded up $8.97 during trading on Thursday, reaching $945.77. 459,405 shares of the company’s stock were exchanged, compared to its average volume of 579,763. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock has a 1-year low of $596.18 and a 1-year high of $952.75. The company has a market cap of $140.54 billion, a P/E ratio of 24.03, a PEG ratio of 2.05 and a beta of 1.30. The firm’s 50-day moving average price is $874.71 and its 200 day moving average price is $820.11.
BlackRock (NYSE:BLK – Get Free Report) last issued its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.28 EPS. As a group, research analysts anticipate that BlackRock will post 41.37 earnings per share for the current year.
Insider Buying and Selling
In other BlackRock news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,042 shares of company stock worth $79,387,117. Corporate insiders own 0.90% of the company’s stock.
Institutional Investors Weigh In On BlackRock
Hedge funds and other institutional investors have recently modified their holdings of the stock. Carolinas Wealth Consulting LLC increased its holdings in BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 40 shares during the period. California State Teachers Retirement System grew its stake in shares of BlackRock by 0.7% in the 4th quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock worth $192,997,000 after buying an additional 1,647 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in BlackRock by 35.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after acquiring an additional 1,248 shares in the last quarter. Morningstar Investment Services LLC lifted its holdings in shares of BlackRock by 97.1% during the 4th quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock valued at $93,151,000 after buying an additional 56,357 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of BlackRock by 3.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock valued at $322,810,000 after buying an additional 14,477 shares during the period. 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.
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