Shares of BlackRock, Inc. (NYSE:BLK) have earned a consensus recommendation of “Buy” from the fifteen research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $494.03.
Several brokerages have recently issued reports on BLK. Barclays upped their target price on shares of BlackRock from $490.00 to $515.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Credit Suisse Group reissued a “buy” rating and issued a $532.00 price objective on shares of BlackRock in a research note on Thursday, January 17th. Jefferies Financial Group raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $405.36 price objective for the company in a research note on Tuesday, January 29th. Argus reissued a “buy” rating on shares of BlackRock in a research note on Thursday, January 17th. Finally, Morgan Stanley set a $515.00 price objective on shares of BlackRock and gave the stock a “buy” rating in a research note on Friday, February 8th.
Shares of NYSE BLK traded up $3.99 during midday trading on Friday, hitting $446.77. 4,977 shares of the company traded hands, compared to its average volume of 604,439. BlackRock has a 12-month low of $360.79 and a 12-month high of $557.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $73.17 billion, a P/E ratio of 16.58, a P/E/G ratio of 1.67 and a beta of 1.44.
In other BlackRock news, Chairman Laurence Fink sold 31,250 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total transaction of $15,055,937.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gary Shedlin sold 2,750 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $467.99, for a total transaction of $1,286,972.50. The disclosure for this sale can be found here. Insiders have sold 44,346 shares of company stock valued at $20,869,645 over the last ninety days. 1.42% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Standard Life Aberdeen plc lifted its stake in BlackRock by 10.0% during the 3rd quarter. Standard Life Aberdeen plc now owns 41,267 shares of the asset manager’s stock valued at $19,451,000 after acquiring an additional 3,752 shares during the period. Marshall Wace North America L.P. lifted its position in shares of BlackRock by 256.9% during the third quarter. Marshall Wace North America L.P. now owns 3,212 shares of the asset manager’s stock worth $1,514,000 after purchasing an additional 2,312 shares in the last quarter. Sheets Smith Wealth Management lifted its position in shares of BlackRock by 1.4% during the fourth quarter. Sheets Smith Wealth Management now owns 5,935 shares of the asset manager’s stock worth $2,331,000 after purchasing an additional 80 shares in the last quarter. Beech Hill Advisors Inc. acquired a new stake in shares of BlackRock during the fourth quarter worth about $3,543,000. Finally, Pennsylvania Trust Co lifted its position in shares of BlackRock by 4.1% during the fourth quarter. Pennsylvania Trust Co now owns 21,052 shares of the asset manager’s stock worth $8,269,000 after purchasing an additional 828 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.
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.
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