BlackRock (NYSE:BLK) Now Covered by StockNews.com

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

BLK has been the subject of a number of other research reports. Morgan Stanley increased their price target on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Barclays decreased their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Citigroup boosted their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Stock Down 2.3 %

NYSE BLK opened at $951.45 on Tuesday. The company has a market capitalization of $147.36 billion, a P/E ratio of 22.65, a PEG ratio of 1.90 and a beta of 1.28. BlackRock has a 12 month low of $745.55 and a 12 month high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The company’s 50 day simple moving average is $1,009.33 and its 200 day simple moving average is $979.66.

BlackRock (NYSE:BLK) last posted 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. The company 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%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.66 earnings per share. Equities research analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the transaction, the director now owns 68,433 shares in the company, valued at $69,117,330. This represents a 12.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,190 shares of company stock worth $115,163,141. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On BlackRock

Several hedge funds have recently bought and sold shares of the business. Fidelity D & D Bancorp Inc. boosted its stake in shares of BlackRock by 3.7% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after acquiring an additional 10 shares in the last quarter. Princeton Global Asset Management LLC boosted its position in BlackRock by 8.7% during the fourth quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock worth $128,000 after purchasing an additional 10 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in BlackRock by 0.8% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock valued at $1,311,000 after purchasing an additional 10 shares during the last quarter. Legacy Capital Group California Inc. raised its position in shares of BlackRock by 2.8% in the fourth quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock valued at $377,000 after purchasing an additional 10 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of BlackRock by 0.4% in the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after buying an additional 11 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

About BlackRock

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.