Premier Path Wealth Partners LLC Buys New Position in BlackRock, Inc. (NYSE:BLK)

Premier Path Wealth Partners LLC acquired a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,374 shares of the asset manager's stock, valued at approximately $3,459,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marino Stram & Associates LLC grew its holdings in shares of BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager's stock worth $3,227,000 after purchasing an additional 10 shares in the last quarter. Fidelity D & D Bancorp Inc. increased its stake in BlackRock by 3.7% in the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager's stock valued at $263,000 after acquiring an additional 10 shares during the period. Onyx Bridge Wealth Group LLC lifted its stake in BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager's stock worth $312,000 after purchasing an additional 11 shares during the period. Ballentine Partners LLC grew its stake in shares of BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager's stock valued at $3,251,000 after purchasing an additional 11 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of BlackRock by 0.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager's stock worth $2,829,000 after buying an additional 11 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on BLK shares. The Goldman Sachs Group raised their price target on BlackRock from $960.00 to $1,040.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Barclays reduced 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 report on Monday, January 13th. Evercore ISI lifted their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. TD Cowen increased their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Finally, Morgan Stanley increased their price target on BlackRock from $1,261.00 to $1,275.00 and gave the company an "overweight" rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and an average price target of $1,103.33.

Insider Activity at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the business's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the sale, the chief operating officer now owns 41,916 shares of the company's stock, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the 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 ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

BlackRock Stock Performance

Shares of BLK traded up $8.51 during midday trading on Friday, reaching $1,004.23. 1,079,196 shares of the stock were exchanged, compared to its average volume of 610,586. 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 stock's 50 day simple moving average is $1,027.33 and its 200 day simple moving average is $946.18. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,082.45. The company has a market cap of $155.54 billion, a P/E ratio of 24.78, a PEG ratio of 1.53 and a beta of 1.28.

BlackRock (NYSE:BLK - Get Free Report) 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 net margin of 31.37% and a return on equity of 15.52%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the business posted $9.66 EPS. The business's revenue was up 22.6% compared to the same quarter last year. On average, sell-side analysts expect that BlackRock, Inc. will post 43.02 earnings per share for the current year.

BlackRock Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock's payout ratio is currently 50.35%.

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.