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

StockNews.com started coverage on shares of BlackRock (NYSE:BLK - Get Free Report) in a report issued on Thursday. The brokerage set a "hold" rating on the asset manager's stock.

BLK has been the subject of a number of other research reports. Keefe, Bruyette & Woods decreased their price target on shares of BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $914.00 to $971.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Wells Fargo & Company raised their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Citigroup lifted their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a report on Monday, December 23rd. Finally, Morgan Stanley lifted their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and a consensus target price of $1,120.67.

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BlackRock Trading Down 0.0 %

BLK opened at $909.96 on Thursday. The firm has a market capitalization of $141.27 billion, a P/E ratio of 21.67, a P/E/G ratio of 1.90 and a beta of 1.29. The firm's 50 day moving average is $987.79 and its 200-day moving average is $985.88. BlackRock has a 52-week low of $745.55 and a 52-week high of $1,084.22. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the firm posted $9.66 earnings per share. The business's quarterly revenue was up 22.6% on a year-over-year basis. Analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction dated 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 sale, the director now owns 68,433 shares of the company's stock, valued at $73,403,973.12. This represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 20,430 shares of company stock valued at $21,234,629 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BlackRock

Institutional investors have recently bought and sold shares of the stock. Oddo BHF Asset Management Sas acquired a new stake in BlackRock in the 3rd quarter valued at about $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 lifted its holdings in BlackRock by 4.9% in 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 acquiring an additional 578 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in BlackRock in the 3rd quarter valued at about $32,904,000. Finally, Raymond James Trust N.A. lifted its holdings in BlackRock by 2.3% in the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager's stock valued at $25,724,000 after acquiring an additional 614 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

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.

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