Dearborn Partners LLC Reduces Stake in BlackRock, Inc. (NYSE:BLK)

Dearborn Partners LLC has lowered its stake in BlackRock, Inc. (NYSE:BLK) by 1.6% during the fourth quarter, as reported in its latest filing with the Securities and Exchange Commission (SEC). After selling 663 shares, the institutional investor now holds 39,529 shares of the asset management company's stock. This position accounts for around 1.7% of Dearborn Partners LLC's total holdings, making it their 17th largest investment. The value of their holdings in BlackRock stood at approximately $40,521,000 at the close of the latest quarter.

Other Institutional Changes

Several other institutional investors have adjusted their holdings in BlackRock as well. For instance, Fidelity D & D Bancorp Inc. increased its stake by 3.7% in the previous third quarter, resulting in a total of 277 shares valued at $263,000 after acquiring an additional 10 shares. Princeton Global Asset Management LLC also raised its position in BlackRock by 8.7% during the fourth quarter, bringing their total to 125 shares worth $128,000 after purchasing 10 more shares. Furthermore, Farmers & Merchants Trust Co of Chambersburg PA increased its stake by 0.8%, holding 1,279 shares valued at $1,311,000, and Legacy Capital Group California Inc. boosted its investment by 2.8%, now owning 368 shares valued at $377,000. Finally, Venturi Wealth Management LLC increased its stake in BlackRock by 0.7% during the third quarter, resulting in ownership of 1,524 shares valued at $1,447,000. It is noteworthy that hedge funds and other institutional investors own around 80.69% of BlackRock's shares.

Insider Transactions

In related news, J. Richard Kushel, a Director at BlackRock, sold 10,000 shares of the company on January 30th. This transaction took place at an average price of $1,072.64 per share, totaling $10,726,400. After this sale, Kushel's remaining shares amounted to 68,433, which are valued at around $73,403,973.12, marking a decrease of 12.75% in his position. This information was disclosed in a filing available through the SEC. Over the last three months, company insiders have sold 20,430 shares valued at $21,234,629, while 0.90% of the company's stock remains owned by insiders.

BlackRock's Stock Performance

As of Tuesday, BlackRock's stock opened at $914.87, with a 52-week low of $745.55 and a high of $1,084.22. The company has a market capitalization of $141.69 billion and a price-to-earnings ratio of 21.78. Its current ratios stand at 5.23. Recently, BlackRock posted quarterly earnings results on January 15th, with an earnings per share of $11.93, exceeding analysts' predictions of $11.52. The company's revenue during this quarter amounted to $5.68 billion, surpassing the expected $5.57 billion. Compared to the same quarter last year, BlackRock's revenue increased by 22.6%, while earnings per share last year were recorded at $9.66. Analysts predict that BlackRock will achieve an earnings per share of 47.41 for the current year.

Dividend Announcements

BlackRock has also announced a quarterly dividend to be distributed on March 24th. Shareholders recorded before March 7th will receive a dividend of $5.21. This new dividend reflects an annualized figure of $20.84, resulting in a dividend yield of 2.28%, which is an increase from the previous quarterly dividend of $5.10. The cut-off date for this dividend will be March 7th, with the company maintaining a dividend payout ratio of 49.62%.

Market Outlook and Analyst Ratings

Company Overview

BlackRock, Inc. is an investment management firm that operates publicly. The company primarily offers its services to institutional, intermediary, and individual investors, serving various entities such as pension plans, insurance companies, mutual funds, foundations, and government bodies among others.

BlackRock, Investment, Earnings