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

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

A number of other research analysts have also recently issued reports on BLK. Barclays boosted their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods lifted their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. boosted their target price on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, Morgan Stanley raised their price target on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $995.31.

BlackRock Stock Performance

BLK stock opened at $1,029.82 on Tuesday. BlackRock has a twelve month low of $646.91 and a twelve month high of $1,057.51. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market cap of $152.55 billion, a P/E ratio of 25.42, a price-to-earnings-growth ratio of 1.77 and a beta of 1.30. The business’s fifty day moving average is $947.54 and its 200-day moving average is $857.04.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business earned $10.91 earnings per share. Equities research analysts forecast that BlackRock will post 42.94 EPS for the current year.

Insiders Place Their Bets

In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 35,061 shares of company stock valued at $30,734,840 in the last quarter. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BLK. Fairscale Capital LLC acquired a new stake in BlackRock in the second quarter valued at $31,000. Reston Wealth Management LLC acquired a new stake in BlackRock in the 3rd quarter valued at about $37,000. MFA Wealth Advisors LLC grew its holdings in BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares during the period. Chilton Capital Management LLC acquired a new position in BlackRock during the first quarter worth approximately $38,000. Finally, Addison Advisors LLC raised its stake in BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after buying an additional 22 shares during the period. 80.69% of the stock is 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.