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

Bourgeon Capital Management LLC lowered its position in BlackRock, Inc. (NYSE:BLK) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

Several other institutional investors also recently modified their holdings of the company. FSA Wealth Management LLC bought a new position in BlackRock during the third quarter worth about $26,000. Atwood & Palmer Inc. bought a new position in shares of BlackRock during the 4th quarter worth approximately $36,000. Reston Wealth Management LLC acquired a new position in shares of BlackRock during the 3rd quarter worth approximately $37,000. MFA Wealth Advisors LLC raised its stake in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the period. Finally, West Financial Advisors LLC acquired a new stake in BlackRock during the 4th quarter valued at $39,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Trading Up 0.7 %

Shares of BlackRock stock opened at $1,011.87 on Wednesday. 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 12-month low of $745.55 and a 12-month high of $1,082.45. The company has a market capitalization of $156.72 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 1.82 and a beta of 1.28. The firm’s 50-day moving average price is $1,026.34 and its two-hundred day moving average price is $949.91.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period last year, the firm posted $9.66 earnings per share. On average, analysts forecast that BlackRock, Inc. will post 47.23 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were paid a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.02%. BlackRock’s payout ratio is currently 48.57%.

Wall Street Analysts Forecast Growth

BLK has been the topic of several research analyst reports. Barclays dropped their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft increased their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods decreased their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company lifted their price target on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Morgan Stanley upped their price objective on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a 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, the company has an average rating of “Moderate Buy” and an average target price of $1,120.67.

Insider Buying and Selling

In related news, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the firm’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 transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

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.