BlackRock (NYSE:BLK) Coverage Initiated by Analysts at StockNews.com

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

Other equities research analysts also recently issued research reports about the stock. UBS Group raised their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods decreased their price target on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Morgan Stanley upped their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price target on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Evercore ISI raised their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,120.67.

BlackRock Price Performance

NYSE BLK opened at $1,075.83 on Friday. BlackRock has a 1 year low of $745.55 and a 1 year high of $1,084.22. The company has a fifty day simple moving average of $1,025.64 and a 200 day simple moving average of $960.42. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The company has a market cap of $166.62 billion, a P/E ratio of 25.62, a P/E/G ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last issued its quarterly earnings results 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. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the business posted $9.66 earnings per share. The firm’s revenue was up 22.6% compared to the same quarter last year. On average, sell-side analysts predict that BlackRock will post 47.45 EPS for the current year.

Insider Activity at BlackRock

In other news, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $6,777,432. The trade was a 84.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,190 shares of company stock valued at $115,163,141 in the last ninety days. Insiders own 0.90% of the company’s stock.

Institutional Trading of BlackRock

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its position in shares of BlackRock by 21.9% during the 4th quarter. Global Retirement Partners LLC now owns 5,825 shares of the asset manager’s stock worth $5,971,000 after buying an additional 1,046 shares during the period. Convergence Investment Partners LLC grew its holdings in BlackRock by 1,003.7% during the 4th quarter. Convergence Investment Partners LLC now owns 2,406 shares of the asset manager’s stock worth $2,467,000 after acquiring an additional 2,188 shares during the period. Atlas Legacy Advisors LLC bought a new stake in shares of BlackRock during the 4th quarter valued at $624,000. Bank of Jackson Hole Trust acquired a new position in shares of BlackRock in the 4th quarter valued at $2,199,000. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of BlackRock by 9.1% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,500 shares of the asset manager’s stock worth $4,613,000 after purchasing an additional 377 shares during the last quarter. 80.69% of the stock is 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.