BlackRock (NYSE:BLK) Price Target Raised to $1,025.00 at Morgan Stanley

BlackRock (NYSE:BLK) had its price target lifted by Morgan Stanley from $1,013.00 to $1,025.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has an overweight rating on the asset manager’s stock.

Several other analysts have also commented on the company. TD Cowen raised BlackRock from a market perform rating to an outperform rating and raised their target price for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. JPMorgan Chase & Co. raised their target price on BlackRock from $742.00 to $767.00 and gave the stock a neutral rating in a report on Tuesday, April 2nd. Finally, UBS Group raised their target price on BlackRock from $818.00 to $850.00 and gave the stock a neutral rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $811.43.

BlackRock Trading Down 0.1 %

Shares of NYSE:BLK opened at $762.99 on Monday. The business’s 50-day moving average is $808.48 and its 200 day moving average is $754.48. BlackRock has a 1 year low of $596.18 and a 1 year high of $845.00. The firm has a market capitalization of $113.64 billion, a P/E ratio of 19.39, a P/E/G ratio of 1.65 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $7.93 earnings per share. On average, research analysts predict that BlackRock will post 41.35 earnings per share for the current fiscal year.

Insider Activity at BlackRock

In related news, Director Stephen Cohen sold 950 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the sale, the director now owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other BlackRock news, Director Stephen Cohen sold 950 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the completion of the sale, the director now owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Christopher J. Meade sold 18,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the sale, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,511 shares of company stock valued at $71,864,028. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackRock

A number of institutional investors have recently modified their holdings of BLK. Norges Bank acquired a new position in BlackRock during the 4th quarter worth $1,812,920,000. Capital World Investors grew its stake in BlackRock by 57.3% during the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after purchasing an additional 1,279,952 shares in the last quarter. Capital Research Global Investors grew its stake in BlackRock by 23.7% during the 4th quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after purchasing an additional 749,654 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in BlackRock by 104,159.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 697,499 shares of the asset manager’s stock worth $494,269,000 after purchasing an additional 696,830 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in BlackRock by 77,524.5% during the 4th quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock worth $5,211,390,000 after purchasing an additional 641,128 shares in the last quarter. 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.