BlackRock (NYSE:BLK) Earns Hold Rating from Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of BlackRock (NYSE:BLK) in a research report issued on Friday. The firm set a “hold” rating on the asset manager’s stock.

A number of other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Citigroup boosted their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. UBS Group raised their target price on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Finally, Barclays reduced their price objective on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

BlackRock Price Performance

BLK opened at $954.11 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock has a 1-year low of $745.55 and a 1-year high of $1,084.22. The company has a 50-day moving average of $980.87 and a 200-day moving average of $987.36. The company has a market capitalization of $148.13 billion, a P/E ratio of 22.72, a PEG ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.52 by $0.41. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.66 earnings per share. Equities analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the transaction, the director now directly owns 68,433 shares in the company, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 20,430 shares of company stock valued at $21,234,629. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

A number of institutional investors have recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas acquired a new stake in shares of BlackRock in the third quarter valued at $518,000. Amalgamated Bank lifted its holdings in BlackRock by 1.7% in the 4th quarter. Amalgamated Bank now owns 28,711 shares of the asset manager’s stock valued at $29,432,000 after acquiring an additional 489 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of BlackRock by 4.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager’s stock valued at $12,793,000 after purchasing an additional 578 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of BlackRock in the 3rd quarter worth approximately $32,904,000. Finally, Raymond James Trust N.A. raised its holdings in shares of BlackRock by 2.3% in the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after purchasing an additional 614 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

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.