RWA Wealth Partners LLC Has $25.38 Million Position in BlackRock, Inc. (NYSE:BLK)

RWA Wealth Partners LLC reduced its stake in BlackRock, Inc. (NYSE:BLK) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,754 shares of the asset manager’s stock after selling 77 shares during the quarter. RWA Wealth Partners LLC’s holdings in BlackRock were worth $25,376,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. IAG Wealth Partners LLC acquired a new position in shares of BlackRock in the 4th quarter worth approximately $26,000. FSA Wealth Management LLC bought a new stake in BlackRock during the third quarter valued at $26,000. Collier Financial bought a new position in shares of BlackRock in the 4th quarter worth about $32,000. Compass Planning Associates Inc acquired a new position in shares of BlackRock in the 4th quarter valued at about $33,000. Finally, Atwood & Palmer Inc. bought a new stake in shares of BlackRock during the 4th quarter valued at about $36,000. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the completion of the transaction, the director now directly owns 68,433 shares of the company’s stock, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BLK shares. StockNews.com began coverage on BlackRock in a report on Saturday. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. 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 research note on Monday, January 13th. Citigroup raised 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. Finally, Morgan Stanley upped their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Stock Performance

NYSE:BLK opened at $947.48 on Friday. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,084.22. The business’s 50-day moving average price is $978.66 and its two-hundred day moving average price is $991.44. The stock has a market cap of $147.10 billion, a P/E ratio of 22.56, a PEG ratio of 1.90 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.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the company earned $9.66 EPS. BlackRock’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, equities analysts predict that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were paid a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 2.20%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend was Friday, March 7th. BlackRock’s dividend payout ratio is presently 49.62%.

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.