Alteri Wealth LLC Invests $1.54 Million in BlackRock, Inc. (NYSE:BLK)

Alteri Wealth LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,502 shares of the asset manager's stock, valued at approximately $1,540,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC acquired a new stake in BlackRock during the 4th quarter worth $26,000. Collier Financial bought a new stake in BlackRock in the fourth quarter valued at about $32,000. Compass Planning Associates Inc bought a new position in BlackRock during the fourth quarter worth about $33,000. Atwood & Palmer Inc. acquired a new position in shares of BlackRock during the 4th quarter worth about $36,000. Finally, West Financial Advisors LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Performance

NYSE BLK traded down $4.75 during trading on Tuesday, reaching $915.78. 481,294 shares of the company's stock were exchanged, compared to its average volume of 686,787. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22. The business has a 50 day moving average price of $916.05 and a 200-day moving average price of $980.40. 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 stock has a market capitalization of $142.18 billion, a P/E ratio of 21.80, a PEG ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business's revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.81 earnings per share. Sell-side analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BLK. JPMorgan Chase & Co. reduced their price target on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Bank of America cut their price objective on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Morgan Stanley cut their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. UBS Group dropped their price target on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company reduced their price objective on BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,077.08.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 430 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the transaction, the director now owns 3,720 shares in the company, valued at approximately $3,531,656.40. This trade represents a 10.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 12,430 shares of company stock worth $11,237,249 in the last quarter. 1.98% of the stock is currently owned by corporate insiders.

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.