Bourgeon Capital Management LLC Has $5.88 Million Stake in BlackRock, Inc. (NYSE:BLK)

Bourgeon Capital Management LLC cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,739 shares of the asset manager’s stock after selling 66 shares during the quarter. Bourgeon Capital Management LLC’s holdings in BlackRock were worth $5,883,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Oddo BHF Asset Management Sas bought a new position in BlackRock during the third quarter valued at $518,000. Erste Asset Management GmbH purchased a new stake in shares of BlackRock during the third quarter worth $32,904,000. Raymond James Trust N.A. grew its position in shares of BlackRock by 2.3% in the third quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock valued at $25,724,000 after purchasing an additional 614 shares in the last quarter. MML Investors Services LLC raised its stake in shares of BlackRock by 2.8% during the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock valued at $65,010,000 after purchasing an additional 1,852 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in BlackRock by 20.4% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after purchasing an additional 565 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,011.87 on Wednesday. The company’s fifty day moving average is $1,026.34 and its 200 day moving average is $949.91. 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, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45. The stock has a market cap of $156.72 billion, a PE ratio of 24.09, a PEG ratio of 1.82 and a beta of 1.28.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating 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 company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the business posted $9.66 EPS. BlackRock’s quarterly revenue was up 22.6% compared to the same quarter last year. Research analysts anticipate that BlackRock, Inc. will post 47.23 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders 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 2.02%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is 48.57%.

Analyst Ratings Changes

Several brokerages have recently weighed in on BLK. JPMorgan Chase & Co. upped their price target on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. TD Cowen increased their target price 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. The Goldman Sachs Group boosted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Barclays dropped their price objective on 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. Finally, UBS Group upped their target price on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock 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.