BlackRock, Inc. (NYSE:BLK) has earned a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $494.03.

BLK has been the topic of several recent research reports. Wells Fargo & Co increased their target price on shares of BlackRock from $460.00 to $480.00 and gave the company an “average” rating in a report on Wednesday, April 17th. Jefferies Financial Group raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $405.36 target price on the stock in a report on Tuesday, January 29th. Credit Suisse Group reaffirmed a “buy” rating and set a $532.00 target price on shares of BlackRock in a report on Thursday, January 17th. Argus reissued a “buy” rating on shares of BlackRock in a report on Thursday, January 17th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $472.00 price target on shares of BlackRock in a report on Wednesday, January 9th.

In other news, insider Jeff A. Smith sold 300 shares of BlackRock stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $468.22, for a total transaction of $140,466.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gary Shedlin sold 5,400 shares of BlackRock stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $410.74, for a total transaction of $2,217,996.00. The disclosure for this sale can be found here. In the last three months, insiders sold 85,766 shares of company stock worth $35,788,908. Insiders own 1.42% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Winslow Evans & Crocker Inc. boosted its stake in shares of BlackRock by 11.6% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 212 shares of the asset manager’s stock valued at $94,000 after purchasing an additional 22 shares in the last quarter. Somerset Trust Co boosted its stake in shares of BlackRock by 0.6% during the 1st quarter. Somerset Trust Co now owns 3,678 shares of the asset manager’s stock valued at $1,572,000 after purchasing an additional 23 shares in the last quarter. First Manhattan Co. lifted its position in BlackRock by 3.5% during the 1st quarter. First Manhattan Co. now owns 707 shares of the asset manager’s stock valued at $302,000 after acquiring an additional 24 shares during the period. Shine Investment Advisory Services Inc. lifted its position in BlackRock by 18.1% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 176 shares of the asset manager’s stock valued at $69,000 after acquiring an additional 27 shares during the period. Finally, IMS Capital Management lifted its position in BlackRock by 0.8% during the 3rd quarter. IMS Capital Management now owns 3,510 shares of the asset manager’s stock valued at $1,654,000 after acquiring an additional 28 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BLK stock traded up $10.01 on Tuesday, hitting $474.03. 672,300 shares of the company’s stock traded hands, compared to its average volume of 615,952. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.11 and a current ratio of 1.11. BlackRock has a one year low of $360.79 and a one year high of $557.00. The firm has a market cap of $73.45 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.68 and a beta of 1.40.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, April 16th. The asset manager reported $6.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.35%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same quarter last year, the firm earned $6.48 EPS. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, analysts forecast that BlackRock will post 27.67 EPS for the current year.

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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Analyst Recommendations for BlackRock (NYSE:BLK)

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