BlackRock, Inc. (NYSE:BLK) Stake Trimmed by Mattern Capital Management LLC

Mattern Capital Management LLC lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,572 shares of the asset manager’s stock after selling 569 shares during the quarter. BlackRock makes up 1.4% of Mattern Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Mattern Capital Management LLC’s holdings in BlackRock were worth $10,837,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. State Street Corp increased its holdings in shares of BlackRock by 0.7% in the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock valued at $5,681,472,000 after purchasing an additional 42,757 shares during the period. Geode Capital Management LLC increased its holdings in shares of BlackRock by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock valued at $2,663,330,000 after purchasing an additional 30,182 shares during the period. FMR LLC increased its holdings in shares of BlackRock by 10.6% in the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after purchasing an additional 226,135 shares during the period. Fisher Asset Management LLC increased its holdings in shares of BlackRock by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock valued at $2,081,561,000 after purchasing an additional 40,865 shares during the period. Finally, Pathway Financial Advisers LLC increased its holdings in shares of BlackRock by 89,389.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after purchasing an additional 1,044,962 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Up 0.4 %

Shares of BlackRock stock opened at $990.47 on Friday. The stock has a market capitalization of $153.40 billion, a P/E ratio of 23.58, a PEG ratio of 1.88 and a beta of 1.28. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average price of $1,013.24 and a two-hundred day moving average price of $976.04. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the business earned $9.66 earnings per share. The company’s revenue was up 22.6% on a year-over-year basis. Equities analysts expect that BlackRock, Inc. will post 47.44 earnings per share for the current year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 2.10%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio is currently 48.57%.

Analyst Ratings Changes

BLK has been the topic of a number of research reports. UBS Group upped their target price on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Evercore ISI boosted their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Citigroup boosted their price target on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Finally, Barclays lowered their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research note 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of the company’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 completion of the transaction, the director now directly owns 68,433 shares in the company, valued at approximately $69,117,330. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,190 shares of company stock valued at $115,163,141. 0.90% of the stock is owned by company insiders.

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.