BlackRock $BLK Shares Bought by Western Wealth Management LLC

Western Wealth Management LLC raised its stake in shares of BlackRock (NYSE:BLK) by 12.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,585 shares of the asset manager’s stock after acquiring an additional 294 shares during the period. Western Wealth Management LLC’s holdings in BlackRock were worth $2,713,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Garde Capital Inc. raised its position in BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares during the period. Whipplewood Advisors LLC grew its stake in shares of BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after buying an additional 15 shares in the last quarter. Game Plan Financial Advisors LLC raised its holdings in shares of BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 15 shares during the period. Creekmur Asset Management LLC lifted its stake in BlackRock by 87.5% during the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after acquiring an additional 14 shares in the last quarter. Finally, Mid American Wealth Advisory Group Inc. purchased a new position in BlackRock during the 2nd quarter valued at about $34,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,049.32 on Monday. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The company has a 50-day simple moving average of $1,127.37 and a 200-day simple moving average of $1,076.22. The stock has a market capitalization of $162.80 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 1.90 and a beta of 1.48.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same period last year, the business posted $11.46 earnings per share. The company’s quarterly revenue was up 25.2% on a year-over-year basis. On average, analysts predict that BlackRock will post 47.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Argus upped their target price on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Loop Capital set a $1,255.00 price target on shares of BlackRock in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods boosted their price target on shares of BlackRock from $1,215.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Finally, Jefferies Financial Group boosted their target price on BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,302.53.

Insider Activity

In related news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.98% of the company’s stock.

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.