Mattern Wealth Management LLC Buys New Position in BlackRock, Inc. (NYSE:BLK)

Mattern Wealth Management LLC purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,968 shares of the asset manager’s stock, valued at approximately $2,017,000.

A number of other institutional investors have also recently added to or reduced their stakes in BLK. FSC Wealth Advisors LLC purchased a new position in BlackRock in the fourth quarter valued at about $56,000. Nilsine Partners LLC purchased a new position in shares of BlackRock during the 4th quarter valued at approximately $2,621,000. Lebenthal Global Advisors LLC grew its position in shares of BlackRock by 8.5% during the fourth quarter. Lebenthal Global Advisors LLC now owns 1,552 shares of the asset manager’s stock worth $1,591,000 after buying an additional 121 shares in the last quarter. Baldwin Wealth Partners LLC MA increased its stake in shares of BlackRock by 600.8% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 1,654 shares of the asset manager’s stock worth $1,696,000 after buying an additional 1,418 shares during the last quarter. Finally, Parsons Capital Management Inc. RI boosted its stake in BlackRock by 11.1% during the 4th quarter. Parsons Capital Management Inc. RI now owns 9,742 shares of the asset manager’s stock valued at $9,987,000 after acquiring an additional 977 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on BLK shares. Keefe, Bruyette & Woods reduced their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group upped their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. UBS Group boosted their target price on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Barclays dropped their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, TD Cowen increased their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the completion of the sale, the director now owns 68,433 shares in the company, valued at $69,117,330. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the sale, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,190 shares of company stock worth $104,436,741 over the last ninety days. Company insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.9 %

BlackRock stock opened at $1,029.63 on Tuesday. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45. The stock has a market cap of $159.47 billion, a P/E ratio of 24.52, a PEG ratio of 1.82 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The firm’s 50 day moving average price is $1,024.23 and its 200-day moving average price is $955.97.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm earned $9.66 EPS. The company’s revenue was up 22.6% compared to the same quarter last year. On average, equities analysts predict that BlackRock, Inc. will post 47.43 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were issued a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 1.98%. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

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.