Highview Capital Management LLC DE Grows Stake in BlackRock, Inc. (NYSE:BLK)

Highview Capital Management LLC DE grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,780 shares of the asset manager’s stock after purchasing an additional 64 shares during the quarter. Highview Capital Management LLC DE’s holdings in BlackRock were worth $1,825,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. IAG Wealth Partners LLC purchased a new stake in BlackRock during the 4th quarter worth $26,000. Collier Financial acquired a new stake in shares of BlackRock during the fourth quarter valued at about $32,000. Compass Planning Associates Inc purchased a new stake in shares of BlackRock during the fourth quarter worth about $33,000. Synergy Investment Management LLC acquired a new position in shares of BlackRock in the fourth quarter worth about $40,000. Finally, Curio Wealth LLC acquired a new stake in BlackRock during the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In related news, Director J. Richard Kushel sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the sale, the director now directly owns 66,034 shares in the company, valued at $56,261,628.34. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 12,430 shares of company stock valued at $11,237,249. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. UBS Group reduced their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. TD Cowen cut their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley reduced their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Finally, Wells Fargo & Company lowered their price objective on BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,077.08.

BlackRock Price Performance

Shares of BLK opened at $972.33 on Thursday. BlackRock, Inc. has a 12 month low of $752.30 and a 12 month high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The stock has a fifty day moving average price of $920.55 and a 200 day moving average price of $978.19. The company has a market cap of $150.64 billion, a P/E ratio of 23.15, a PEG ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same quarter in the prior year, the firm earned $9.81 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.14%. BlackRock’s payout ratio is currently 50.63%.

About BlackRock

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.