StockNews.com Begins Coverage on BlackRock (NYSE:BLK)

Investment analysts at StockNews.com assumed coverage on shares of BlackRock (NYSE:BLK - Get Free Report) in a report issued on Saturday. The firm set a "hold" rating on the asset manager's stock.

Other research analysts have also recently issued research reports about the company. Morgan Stanley raised their target price on BlackRock from $1,261.00 to $1,275.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Citigroup upped their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Monday, December 23rd. Barclays dropped their price target on BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. TD Cowen raised their price target on BlackRock from $960.00 to $1,077.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their price objective 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 investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, BlackRock has an average rating of "Moderate Buy" and an average price target of $1,120.67.

BlackRock Trading Up 0.3 %

Shares of BlackRock stock traded up $3.37 during midday trading on Friday, reaching $1,017.12. 930,720 shares of the company's stock traded hands, compared to its average volume of 836,594. The stock has a 50 day moving average of $1,026.10 and a 200-day moving average of $965.17. BlackRock has a 12 month low of $745.55 and a 12 month high of $1,084.22. The company has a market cap of $157.53 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28. 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 (NYSE:BLK - Get Free Report) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.57 billion. During the same period last year, the company posted $9.66 EPS. The company's quarterly revenue was up 22.6% compared to the same quarter last year. As a group, equities analysts expect that BlackRock will post 47.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock 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 trade represents a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the company'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 owns 41,916 shares of the company's stock, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,190 shares of company stock valued at $115,163,141. Insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On BlackRock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new stake in shares of BlackRock during the third quarter worth about $26,000. Collier Financial purchased a new stake in BlackRock during the 4th quarter valued at approximately $32,000. Compass Planning Associates Inc bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $33,000. Atwood & Palmer Inc. purchased a new position in shares of BlackRock in the fourth quarter worth $36,000. Finally, West Financial Advisors LLC purchased a new position in BlackRock during the fourth quarter valued at $39,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

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.