Bartlett & CO. Wealth Management LLC Has $1.95 Million Stock Holdings in BlackRock (NYSE:BLK)

Bartlett & CO. Wealth Management LLC grew its position in shares of BlackRock (NYSE:BLK) by 22.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,061 shares of the asset manager’s stock after purchasing an additional 376 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in BlackRock were worth $1,951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IAG Wealth Partners LLC acquired a new position in shares of BlackRock in the fourth quarter worth approximately $26,000. Investment Management Corp VA ADV acquired a new position in shares of BlackRock in the fourth quarter worth approximately $30,000. Synergy Investment Management LLC acquired a new position in shares of BlackRock in the fourth quarter worth approximately $40,000. Curio Wealth LLC acquired a new position in shares of BlackRock in the fourth quarter worth approximately $41,000. Finally, Cedar Wealth Management LLC acquired a new position in shares of BlackRock in the fourth quarter worth approximately $43,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director now owns 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on BLK shares. The Goldman Sachs Group lifted their price objective on BlackRock from $994.00 to $1,115.00 and gave the stock a “buy” rating in a research note on Friday. TD Cowen cut their price objective on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. UBS Group dropped their price target on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Wall Street Zen raised BlackRock to a “hold” rating in a research note on Saturday, May 24th. Finally, Morgan Stanley dropped their price target on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,102.08.

BlackRock Trading Up 1.8%

NYSE BLK opened at $1,049.35 on Friday. The company has a market cap of $162.58 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 3.13 and a beta of 1.41. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,084.22. The business has a 50 day moving average price of $962.39 and a 200-day moving average price of $969.42. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.81 earnings per share. As a group, equities analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were issued a dividend of $5.21 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.99%. BlackRock’s dividend payout ratio is 50.63%.

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.