Blue Chip Partners LLC Reduces Stake in BlackRock, Inc.

Blue Chip Partners LLC has reduced its investment in BlackRock, Inc. (NYSE:BLK) by 1.2% during the fourth quarter, as reported in the latest 13F filing with the Securities and Exchange Commission (SEC). After selling 311 shares, the institutional investor now holds a total of 25,421 shares of BlackRock's stock. This reduction means that BlackRock accounts for approximately 2.2% of Blue Chip Partners LLC's total holdings, ranking it as the 17th largest investment within their portfolio. The reported value of Blue Chip Partners LLC's stakes in BlackRock was approximately $26,060,000 in the most recent SEC filing.

Changes by Other Investors

Several other institutional investors have also recently adjusted their investments in BlackRock. Notably, Pathway Financial Advisers LLC significantly increased its stake by 89,389.4% in the third quarter, now owning 1,046,131 shares valued at $993,312,000 after buying an additional 1,044,962 shares. Similarly, International Assets Investment Management LLC expanded its position by 104,468.9% during the same period, now holding 792,632 shares worth $7,526,120,000 after acquiring 791,874 shares. Additionally, Montrusco Bolton Investments Inc. and Assenagon Asset Management S.A. both initiated new stakes valued at approximately $343,976,000 and $330,662,000, respectively, during the fourth quarter. FMR LLC also grew its stake in BlackRock by 10.6% in the third quarter, now owning 2,363,965 shares valued at $2,244,608,000 after acquiring 226,135 shares. Overall, institutional investors possess about 80.69% of BlackRock's stock.

Insider Transactions

Furthermore, there has been notable insider activity at BlackRock. On December 6, Director Mark Wiedman sold 36,190 shares at an average price of $1,045.90, totaling $37,851,121. Following this sale, he retains 6,480 shares valued at about $6,777,432, marking an 84.81% reduction in his position. The transaction details were officially disclosed in a filing with the SEC. Another significant transaction occurred on December 5, when COO Robert L. Goldstein sold 54,000 shares at an average price of $1,046.03, equating to $56,485,620. Post-transaction, Goldstein holds 41,916 shares valued at roughly $43,845,393. Over the last three months, insiders collectively sold 110,190 shares valued at $115,163,141. Currently, insiders own about 0.90% of the company’s stock.

Current Stock Performance

As of Monday, BlackRock's shares opened at $973.22, reflecting a 0.7% decrease. Key financial ratios include a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The company maintains a market capitalization of $150.73 billion, a PE ratio of 23.17, and a price-to-earnings-growth ratio of 1.93. BlackRock's share price has ranged from a 12-month low of $745.55 to a high of $1,084.22, with the 50-day moving average standing at $1,019.28 and the 200-day average at $974.18.

Latest Earnings Report

On January 15, BlackRock published its quarterly earnings results, reporting $11.93 earnings per share (EPS), surpassing analysts' forecasts of $11.52. The company recorded a return on equity of 16.32% and a net margin of 31.21%, with total revenue for the quarter reaching $5.68 billion, compared to estimates of $5.57 billion. This marks a 22.6% increase in revenue year over year, with earnings per share soaring from last year's $9.66. Analysts anticipate BlackRock will report an EPS of 47.44 for the current fiscal year.

Dividend Announcement

Recently, BlackRock announced an increase in its quarterly dividend, which shareholders will receive on March 24. The dividend of $5.21 will be payable to stockholders on record as of March 7, representing an annualized sum of $20.84 and a yield of 2.14%. The increase from the previous dividend of $5.10 marks a positive step for investors. The current dividend payout ratio stands at 48.57%.

Analyst Recommendations

Various research firms have provided recent ratings on BlackRock. Barclays adjusted its price target from $1,220.00 to $1,160.00 while maintaining an “overweight” rating. Likewise, Keefe, Bruyette & Woods decreased their target to $1,160.00, also labeling it as “outperform.” Citigroup, on the other hand, raised its target from $1,150.00 to $1,200.00 and rated the stock a “buy.” Meanwhile, UBS Group adjusted their price target to $1,045.00 with a “neutral” rating. The general consensus indicates three analysts suggest holding the stock, while ten recommend buying it, leading to an average rating of “Moderate Buy” and an average target price of $1,120.67.

About BlackRock

BlackRock, Inc. is a publicly traded investment management firm that primarily delivers services to institutional investors, intermediary investors, and individual investors. Its clientele includes corporate and public pension plans, insurance entities, mutual funds, endowments, government bodies, foundations, sovereign wealth funds, and banks.

investment, stock, dividend