BlackRock $BLK Shares Bought by Mattern Capital Management LLC

Mattern Capital Management LLC lifted its position in shares of BlackRock (NYSE:BLK) by 0.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,080 shares of the asset manager’s stock after buying an additional 62 shares during the period. BlackRock makes up approximately 1.3% of Mattern Capital Management LLC’s portfolio, making the stock its 18th largest position. Mattern Capital Management LLC’s holdings in BlackRock were worth $10,576,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Securian Asset Management Inc. acquired a new stake in shares of BlackRock during the 1st quarter worth approximately $7,331,000. Prudent Man Advisors LLC acquired a new stake in shares of BlackRock during the 1st quarter worth approximately $2,018,000. Allianz SE increased its holdings in shares of BlackRock by 2.6% during the 1st quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock worth $10,435,000 after buying an additional 277 shares during the last quarter. Arizona State Retirement System acquired a new stake in shares of BlackRock during the 1st quarter worth approximately $40,868,000. Finally, Community Financial Services Group LLC increased its holdings in shares of BlackRock by 17.2% during the 1st quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager’s stock worth $5,397,000 after buying an additional 836 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,160.23 on Friday. 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 52 week low of $773.74 and a 52 week high of $1,183.50. The stock has a market capitalization of $179.66 billion, a PE ratio of 28.05, a P/E/G ratio of 2.18 and a beta of 1.45. The firm has a 50 day moving average of $1,128.92 and a two-hundred day moving average of $1,026.28.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter last year, the company posted $10.36 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. On average, research analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were given 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 payout ratio is 50.39%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BLK shares. Jefferies Financial Group lifted their target price on shares of BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Morgan Stanley dropped their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. Citigroup lifted their target price on shares of BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company dropped their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. Finally, Argus reiterated a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $1,194.86.

Insider Activity

In related news, Director Fabrizio Freda sold 4,434 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the transaction, the director owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by company insiders.

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.