Bartlett & CO. Wealth Management LLC Purchases 30 Shares of BlackRock, Inc. (NYSE:BLK)

Bartlett & CO. Wealth Management LLC increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,685 shares of the asset manager’s stock after purchasing an additional 30 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in BlackRock were worth $1,727,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AE Wealth Management LLC increased its stake in BlackRock by 19.9% in the second quarter. AE Wealth Management LLC now owns 1,162 shares of the asset manager’s stock valued at $915,000 after acquiring an additional 193 shares during the period. Fred Alger Management LLC grew its stake in shares of BlackRock by 8.2% in the 2nd quarter. Fred Alger Management LLC now owns 10,983 shares of the asset manager’s stock valued at $8,647,000 after purchasing an additional 830 shares during the period. AQR Capital Management LLC raised its holdings in shares of BlackRock by 176.9% in the 2nd quarter. AQR Capital Management LLC now owns 78,797 shares of the asset manager’s stock worth $62,026,000 after buying an additional 50,342 shares in the last quarter. APG Asset Management N.V. grew its position in BlackRock by 3.3% in the second quarter. APG Asset Management N.V. now owns 343,581 shares of the asset manager’s stock valued at $252,399,000 after acquiring an additional 10,873 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of BlackRock by 2.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after purchasing an additional 46,728 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BLK shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley raised their price target on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Wells Fargo & Company boosted their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised their target price on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Barclays reduced their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

BlackRock Stock Up 1.1 %

Shares of NYSE:BLK opened at $1,016.99 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The stock has a market cap of $157.51 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 1.83 and a beta of 1.28. The company has a 50 day moving average of $1,025.37 and a 200-day moving average of $951.85. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,082.45.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.66 EPS. On average, sell-side analysts forecast that BlackRock, Inc. will post 47.43 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were paid a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.01%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is 48.57%.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $6,777,432. The trade was a 84.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the sale, the director now directly owns 68,433 shares in the company, valued at $69,117,330. The trade was a 12.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,190 shares of company stock worth $104,436,741. Insiders own 0.90% of the company’s stock.

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.