Highline Wealth Partners LLC Sells 13 Shares of BlackRock, Inc. (NYSE:BLK)

Highline Wealth Partners LLC decreased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,321 shares of the asset manager’s stock after selling 13 shares during the period. Highline Wealth Partners LLC’s holdings in BlackRock were worth $2,379,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BLK. FSA Wealth Management LLC purchased a new stake in shares of BlackRock during the 3rd quarter valued at $26,000. Fairscale Capital LLC purchased a new position in shares of BlackRock during the 2nd quarter valued at $31,000. Reston Wealth Management LLC bought a new position in shares of BlackRock during the 3rd quarter worth $37,000. MFA Wealth Advisors LLC lifted its stake in shares of BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares in the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of BlackRock during the fourth quarter worth $48,000. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This represents a 56.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

BlackRock Stock Performance

BLK traded down $26.84 during mid-day trading on Friday, reaching $959.26. 517,380 shares of the company traded hands, compared to its average volume of 654,639. The stock has a market capitalization of $148.57 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.92 and a beta of 1.28. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,082.45. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company’s fifty day moving average price is $1,031.57 and its 200-day moving average price is $938.17.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.91 earnings per share. On average, sell-side analysts expect that BlackRock, Inc. will post 43.18 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Morgan Stanley increased their target price on BlackRock from $1,245.00 to $1,261.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. TD Cowen upped their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays raised their price objective on BlackRock from $1,120.00 to $1,220.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, StockNews.com initiated coverage on shares of BlackRock in a report on Wednesday. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,070.08.

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.