Western Wealth Management LLC Has $2.53 Million Holdings in BlackRock, Inc. (NYSE:BLK)

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

A number of other institutional investors also recently modified their holdings of the company. Tennessee Valley Asset Management Partners bought a new position in shares of BlackRock in the fourth quarter worth about $27,000. LFA Lugano Financial Advisors SA grew its position in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after buying an additional 25 shares during the period. Tyler Stone Wealth Management acquired a new stake in BlackRock during the 2nd quarter worth $33,000. FSC Wealth Advisors LLC bought a new stake in shares of BlackRock in the fourth quarter worth about $40,000. Finally, Blue Bell Private Wealth Management LLC raised its position in shares of BlackRock by 96.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 49 shares of the asset manager’s stock worth $40,000 after purchasing an additional 24 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In other news, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the sale, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Rachel Lord sold 36,059 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the sale, the director now owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated 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 $335,425,128.32. The disclosure for this sale can be found here. Insiders have sold 100,511 shares of company stock worth $71,864,028 over the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Stock Up 0.8 %

BLK traded up $6.10 during trading on Friday, hitting $753.40. 124,006 shares of the company’s stock were exchanged, compared to its average volume of 620,143. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The stock has a market cap of $112.21 billion, a P/E ratio of 18.99, a PEG ratio of 1.56 and a beta of 1.37. The business’s 50 day moving average is $805.96 and its two-hundred day moving average is $755.13. 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 posted its earnings results 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 company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.93 EPS. As a group, equities analysts expect that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.