BlackRock (NYSE:BLK) Stock Position Decreased by Mattern Capital Management LLC

Mattern Capital Management LLC lessened its holdings in BlackRock (NYSE:BLK - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,018 shares of the asset manager's stock after selling 554 shares during the period. BlackRock comprises approximately 1.2% of Mattern Capital Management LLC's portfolio, making the stock its 29th biggest position. Mattern Capital Management LLC's holdings in BlackRock were worth $9,482,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. IAG Wealth Partners LLC acquired a new stake in BlackRock during the fourth quarter valued at $26,000. Investment Management Corp VA ADV acquired a new stake in BlackRock during the fourth quarter valued at $30,000. Synergy Investment Management LLC acquired a new stake in BlackRock during the fourth quarter valued at $40,000. Curio Wealth LLC acquired a new stake in BlackRock during the fourth quarter valued at $41,000. Finally, Cedar Wealth Management LLC acquired a new stake in BlackRock during the fourth quarter valued at $43,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, April 24th. The stock was 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. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Trading Up 1.8%

BlackRock stock opened at $1,004.50 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The business's 50-day simple moving average is $952.76 and its 200-day simple moving average is $969.25. The firm has a market capitalization of $155.62 billion, a PE ratio of 24.40, a PEG ratio of 2.99 and a beta of 1.41. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,084.22.

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

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were paid a $5.21 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.07%. BlackRock's payout ratio is presently 50.63%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BLK shares. JPMorgan Chase & Co. reduced their price objective on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Morgan Stanley cut their target price on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Wall Street Zen upgraded BlackRock to a "hold" rating in a report on Saturday, May 24th. Barclays raised their target price on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Finally, UBS Group cut their target price on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, BlackRock presently has an average rating of "Moderate Buy" and a consensus target price of $1,096.31.

About BlackRock

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.