Mattern Wealth Management LLC Makes New $2.02 Million Investment in BlackRock, Inc. (NYSE:BLK)

Mattern Wealth Management LLC bought a new position in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,968 shares of the asset manager’s stock, valued at approximately $2,017,000.

Several other institutional investors also recently modified their holdings of the business. Oddo BHF Asset Management Sas purchased a new position in BlackRock in the third quarter valued at about $518,000. Erste Asset Management GmbH bought a new stake in shares of BlackRock in the third quarter valued at approximately $32,904,000. Raymond James Trust N.A. raised its holdings in BlackRock by 2.3% during the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock valued at $25,724,000 after acquiring an additional 614 shares during the period. MML Investors Services LLC lifted its position in shares of BlackRock by 2.8% during the third quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock worth $65,010,000 after acquiring an additional 1,852 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in shares of BlackRock by 20.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after acquiring an additional 565 shares during the period. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BLK has been the subject of several research analyst reports. Keefe, Bruyette & Woods dropped their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Citigroup increased their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. TD Cowen boosted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Barclays dropped their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. 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 MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $1,120.67.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the sale, the director now directly owns 68,433 shares of the company’s stock, valued at approximately $69,117,330. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $6,777,432. This trade represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,190 shares of company stock worth $104,436,741. 0.90% of the stock is currently owned by insiders.

BlackRock Stock Up 0.9 %

NYSE BLK opened at $1,029.63 on Tuesday. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,082.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The business has a fifty day moving average price of $1,024.23 and a 200 day moving average price of $955.97. The company has a market cap of $159.47 billion, a P/E ratio of 24.52, a P/E/G ratio of 1.82 and a beta of 1.28.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business posted $9.66 EPS. Research analysts anticipate that BlackRock, Inc. will post 47.43 EPS for the current fiscal year.

BlackRock Announces Dividend

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