Mattern Wealth Management LLC Has $1.81 Million Position in BlackRock $BLK

Key Points

• Mattern Wealth Management LLC has reduced its stake in BlackRock by 12.6%, now holding shares worth approximately $1.81 million.
• CEO Laurence Fink sold over 12,000 shares of BlackRock stock, resulting in a 4.57% decrease in his position, while insiders have sold over 66,000 shares in the past ninety days.
• BlackRock recently announced a quarterly dividend of $5.21 per share, yielding about 1.8%, with a payout ratio of 50.39%.

Mattern Wealth Management LLC decreased its position in shares of BlackRock (NYSE:BLK - Free Report) by 12.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,728 shares of the asset manager's stock after selling 248 shares during the quarter. Mattern Wealth Management LLC's holdings in BlackRock were worth $1,813,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Garde Capital Inc. lifted its position in BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock valued at $28,000 after purchasing an additional 18 shares during the period. Fairway Wealth LLC raised its stake in shares of BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after buying an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC raised its stake in shares of BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock worth $28,000 after buying an additional 15 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in BlackRock in the first quarter valued at approximately $31,000. Finally, Cheviot Value Management LLC bought a new position in BlackRock in the first quarter valued at approximately $30,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 12,054 shares of BlackRock stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the sale, the chief executive officer directly owned 251,697 shares in the company, valued at approximately $283,267,354.71. The trade was a 4.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the transaction, the director owned 3,506 shares of the company's stock, valued at approximately $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock valued at $74,694,573 over the last ninety days. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Up 1.5%

Shares of BLK stock opened at $1,173.98 on Tuesday. The firm has a fifty day moving average of $1,126.36 and a 200-day moving average of $1,023.07. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,182.14. The company has a market capitalization of $181.79 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 2.21 and a beta of 1.45.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64. The business had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm's revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.36 EPS. As a group, equities research analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BLK. Telsey Advisory Group reiterated an "outperform" rating on shares of BlackRock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. upped their price objective on BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Wells Fargo & Company reduced their target price on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. Keefe, Bruyette & Woods lowered their price target on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $1,115.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, BlackRock currently has an average rating of "Moderate Buy" and an average target price of $1,171.93.

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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