BlackRock (NYSE:BLK) Shares Bought by Western Wealth Management LLC

Western Wealth Management LLC grew its stake in shares of BlackRock (NYSE:BLK - Free Report) by 14.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,291 shares of the asset manager's stock after purchasing an additional 284 shares during the quarter. Western Wealth Management LLC's holdings in BlackRock were worth $2,168,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $26,000. Investment Management Corp VA ADV acquired a new position in shares of BlackRock in the 4th quarter valued at $30,000. Synergy Investment Management LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $40,000. Curio Wealth LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $41,000. Finally, Cedar Wealth Management LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group cut their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Morgan Stanley dropped their price objective 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. JPMorgan Chase & Co. dropped their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Finally, TD Cowen dropped their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,096.31.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,031.38 on Friday. The firm has a market capitalization of $159.79 billion, a P/E ratio of 25.06, a PEG ratio of 3.09 and a beta of 1.41. BlackRock has a one year low of $773.74 and a one year high of $1,084.22. The company's fifty day moving average is $958.92 and its two-hundred day moving average is $969.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period in the previous year, the firm earned $9.81 EPS. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were given a $5.21 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.02%. BlackRock's dividend payout ratio is presently 50.63%.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the transaction, the director now directly owns 66,034 shares in the company, valued at approximately $60,256,025. This represents a 13.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.98% of the company's stock.

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.

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