Stocks of Blackrock Inc. (NYSE:BLK) traded higher last session on Wall Street, down -0.34% to $781.90.
BLK stock price is now -1.02% away from the 50-day moving average and 5.17% away from the 200-day moving average. The market capitalization of the company currently stands at $116.19B.
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With the price target enhanced from $819 to $938, TD Cowen Upgraded its rating from Market Perform to Outperform for Blackrock Inc. (NYSE: BLK). On December 15, 2023, JP Morgan Downgraded its previous ‘Overweight’ rating to ‘Neutral’ on the stock keeping its target price maintained at $708, while ‘Exane BNP Paribas’ rates the stock as ‘Outperform’
In other news, FINK LAURENCE, Chairman and CEO sold 30,978 shares of the company’s stock on May 20 ’24. The stock was sold for $25,008,124 at an average price of $807.29. Upon completion of the transaction, the Chairman and CEO now directly owns 383,168 shares in the company, valued at $299.6 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 10 ’24, Senior Managing Director Wiedman Mark sold 9,000 shares of the business’s stock. A total of $7,155,000 was realized by selling the stock at an average price of $795.00. This leaves the insider owning 6,480 shares of the company worth $5.07 million. A total of 1.12% of the company’s stock is owned by insiders.
During the past 12 months, Blackrock Inc. has had a low of $596.18 and a high of $845.00. According to the stock market information, the enterprise value for the company is $120237326336, which is based on a 19.87 price-to-earnings ratio, a 1.58 price-to-earnings-growth ratio, and a beta of 1.35. The fifty day moving average price for BLK is $789.4022 and a two-hundred day moving average price translates $743.8787 for the stock.
The latest earnings results from Blackrock Inc. (NYSE: BLK) was released for 2024-03-31. According to the Asset Management Company, earnings per share came in at 9.28, beating analysts’ expectations of 8.46 by 0.82. This compares to $7.64 EPS in the same period last year. The net profit margin was 30.91% and return on equity was 15.28% for BLK. The company reported revenue of $4.73 billion for the quarter, compared to $4.24 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.43 percent. For the current quarter, analysts expect BLK to generate $4.84B in revenue.
