Western Wealth Management LLC Increases Holdings in BlackRock, Inc. (NYSE:BLK)

Western Wealth Management LLC raised its stake in BlackRock, Inc. (NYSE:BLK) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,121 shares of the asset manager’s stock after buying an additional 50 shares during the quarter. Western Wealth Management LLC’s holdings in BlackRock were worth $2,534,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BLK. Morgan Stanley lifted its stake in shares of BlackRock by 3.2% in the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after purchasing an additional 104,844 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in BlackRock by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock worth $2,148,586,000 after buying an additional 35,161 shares during the period. FMR LLC increased its position in shares of BlackRock by 22.0% during the third quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after acquiring an additional 379,631 shares during the last quarter. Northern Trust Corp raised its stake in shares of BlackRock by 0.8% in the 1st quarter. Northern Trust Corp now owns 1,915,197 shares of the asset manager’s stock valued at $1,463,536,000 after acquiring an additional 15,290 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of BlackRock by 21.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock worth $1,128,544,000 after acquiring an additional 307,516 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

NYSE BLK traded up $6.10 during mid-day trading on Friday, hitting $753.40. The stock had a trading volume of 124,006 shares, compared to its average volume of 620,143. The company has a 50 day simple moving average of $805.96 and a 200 day simple moving average of $755.13. The company has a market cap of $112.21 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 1.56 and a beta of 1.37. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the company posted $7.93 EPS. Equities analysts forecast that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Analysts Set New Price Targets

BLK has been the topic of several research reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Morgan Stanley lifted their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, UBS Group lifted their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $845.42.

Insider Activity at BlackRock

In related news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares in the company, valued at $3,366,142.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares in the company, valued at approximately $335,425,128.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Christopher J. Meade sold 18,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the transaction, the general counsel now owns 11,914 shares in the company, valued at $3,366,142.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,511 shares of company stock valued at $71,864,028. 0.90% of the stock is owned by insiders.

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.