Investors purchased shares of BlackRock, Inc. (NYSE:BLK) on weakness during trading on Monday. $73.25 million flowed into the stock on the tick-up and $49.40 million flowed out of the stock on the tick-down, for a money net flow of $23.85 million into the stock. Of all stocks tracked, BlackRock had the 20th highest net in-flow for the day. BlackRock traded down ($0.72) for the day and closed at $465.11
Several research analysts have issued reports on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $440.00 target price on shares of BlackRock in a report on Tuesday, September 26th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $475.00 target price (up from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price for the company in a report on Tuesday, October 3rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $500.00 target price on shares of BlackRock in a report on Thursday, October 12th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $455.00 target price (down from $465.00) on shares of BlackRock in a report on Tuesday, July 18th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock currently has an average rating of “Buy” and a consensus price target of $489.08.
The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. The company has a market cap of $75,276.73, a PE ratio of 21.62, a PEG ratio of 1.61 and a beta of 1.79.
BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $5.14 earnings per share. equities analysts anticipate that BlackRock, Inc. will post 22.29 earnings per share for the current fiscal year.
In related news, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total transaction of $48,158.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. Insiders have sold 4,775 shares of company stock valued at $2,053,412 over the last 90 days. 1.86% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aperio Group LLC grew its position in BlackRock by 8.6% during the third quarter. Aperio Group LLC now owns 68,737 shares of the asset manager’s stock valued at $30,732,000 after buying an additional 5,451 shares during the period. Everett Harris & Co. CA boosted its position in shares of BlackRock by 9.2% in the second quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock worth $42,301,000 after purchasing an additional 8,478 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of BlackRock by 48.9% in the second quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock worth $42,960,000 after purchasing an additional 33,400 shares during the period. Honkamp Krueger Financial Services Inc. bought a new position in shares of BlackRock in the third quarter worth approximately $222,000. Finally, Blue Chip Partners Inc. boosted its position in shares of BlackRock by 8.5% in the second quarter. Blue Chip Partners Inc. now owns 13,440 shares of the asset manager’s stock worth $5,677,000 after purchasing an additional 1,055 shares during the period. Institutional investors own 82.42% of the company’s stock.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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