3,374 Shares in BlackRock, Inc. (NYSE:BLK) Purchased by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,374 shares of the asset manager’s stock, valued at approximately $3,459,000.

A number of other large investors also recently modified their holdings of the company. State Street Corp boosted its stake in BlackRock by 0.7% during the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock worth $5,681,472,000 after purchasing an additional 42,757 shares during the period. Geode Capital Management LLC lifted its stake 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 worth $2,663,330,000 after acquiring an additional 30,182 shares during the period. FMR LLC increased its position in BlackRock by 10.6% during the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after purchasing an additional 226,135 shares during the period. Fisher Asset Management LLC boosted its position in shares of BlackRock by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock worth $2,081,561,000 after purchasing an additional 40,865 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted 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 valued at $1,310,762,000 after acquiring an additional 46,728 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup increased their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Morgan Stanley raised their target price on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday. TD Cowen increased their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Barclays lowered their target price on shares of 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 research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $1,103.33.

BlackRock Price Performance

Shares of BLK opened at $1,004.23 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm has a market cap of $155.54 billion, a PE ratio of 24.78, a PEG ratio of 1.53 and a beta of 1.28. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,082.45. The firm’s 50 day moving average price is $1,028.03 and its 200 day moving average price is $944.64.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the firm posted $9.66 earnings per share. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, research analysts expect that BlackRock, Inc. will post 43.02 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $6,777,432. This trade represents a 84.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the transaction, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Company 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.