Bartlett & CO. Wealth Management LLC Has $1.57 Million Stake in BlackRock, Inc. (NYSE:BLK)

Bartlett & CO. Wealth Management LLC lessened its holdings in BlackRock, Inc. (NYSE:BLK) by 1.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,655 shares of the asset manager’s stock after selling 17 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in BlackRock were worth $1,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Redmont Wealth Advisors LLC bought a new position in BlackRock during the first quarter worth about $27,000. Fairscale Capital LLC bought a new stake in BlackRock during the second quarter worth about $31,000. Chilton Capital Management LLC bought a new position in shares of BlackRock in the first quarter valued at approximately $38,000. City Holding Co. acquired a new position in shares of BlackRock in the 3rd quarter worth approximately $55,000. Finally, Olistico Wealth LLC bought a new stake in BlackRock during the 2nd quarter worth approximately $53,000. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In related news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,042 shares of company stock valued at $56,857,777 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on BLK shares. Barclays increased their target price on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods boosted their price target on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Morgan Stanley lifted their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Evercore ISI increased their target price on BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, TD Cowen boosted their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $991.46.

BlackRock Trading Up 0.5 %

Shares of NYSE:BLK opened at $1,007.02 on Friday. The firm has a market cap of $149.64 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.94 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $1,032.00. The company’s fifty day simple moving average is $915.45 and its 200 day simple moving average is $837.50.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company posted $10.91 earnings per share. As a group, research analysts forecast that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a dividend of $5.10 per share. The ex-dividend date was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.03%. BlackRock’s dividend payout ratio is currently 51.84%.

BlackRock 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.