Western Wealth Management LLC Sells 1,908 Shares of BlackRock, Inc. (NYSE:BLK)

Western Wealth Management LLC trimmed its holdings in BlackRock, Inc. (NYSE:BLK - Free Report) by 54.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,599 shares of the asset manager's stock after selling 1,908 shares during the period. Western Wealth Management LLC's holdings in BlackRock were worth $1,639,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BLK. IAG Wealth Partners LLC bought a new position in BlackRock in the 4th quarter worth $26,000. Investment Management Corp VA ADV bought a new position in BlackRock in the 4th quarter worth approximately $30,000. Collier Financial acquired a new position in shares of BlackRock during the fourth quarter worth approximately $32,000. Compass Planning Associates Inc bought a new stake in shares of BlackRock in the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC bought a new position in BlackRock during the fourth quarter worth $40,000. Institutional investors own 80.69% of the company's stock.

Insider Activity

In other news, Director J. Richard Kushel sold 2,000 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the transaction, the director now directly owns 66,034 shares in the company, valued at $56,261,628.34. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 12,430 shares of company stock valued at $11,237,249. 1.98% of the stock is currently owned by insiders.

BlackRock Price Performance

Shares of BLK traded down $5.13 during mid-day trading on Wednesday, hitting $976.20. 132,332 shares of the company traded hands, compared to its average volume of 692,313. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $151.24 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.90 and a beta of 1.41. The business has a 50-day moving average of $921.62 and a 200 day moving average of $976.43. BlackRock, Inc. has a one year low of $752.30 and a one year high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $9.81 EPS. As a group, equities analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be given a dividend of $5.21 per share. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.13%. BlackRock's payout ratio is presently 50.63%.

Analyst Ratings Changes

BLK has been the subject of a number of research analyst reports. TD Cowen cut their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley dropped their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research report on Saturday. JPMorgan Chase & Co. decreased their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Wells Fargo & Company lowered their price target on BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, BlackRock presently has a consensus rating of "Moderate Buy" and an average price target of $1,077.08.

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.