BlackRock, Inc. (NYSE:BLK) Shares Sold by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,691 shares of the asset manager’s stock after selling 69 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in BlackRock were worth $3,784,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Czech National Bank lifted its stake in BlackRock by 6.6% during the third quarter. Czech National Bank now owns 28,364 shares of the asset manager’s stock worth $26,932,000 after purchasing an additional 1,745 shares during the last quarter. Miracle Mile Advisors LLC raised its stake in shares of BlackRock by 7.2% during the third quarter. Miracle Mile Advisors LLC now owns 565 shares of the asset manager’s stock valued at $536,000 after purchasing an additional 38 shares in the last quarter. Atomi Financial Group Inc. raised its stake in shares of BlackRock by 28.4% during the third quarter. Atomi Financial Group Inc. now owns 1,593 shares of the asset manager’s stock valued at $1,513,000 after purchasing an additional 352 shares in the last quarter. Artemis Investment Management LLP acquired a new position in BlackRock during the third quarter worth about $25,328,000. Finally, O Keefe Stevens Advisory Inc. grew its holdings in BlackRock by 38.2% during the third quarter. O Keefe Stevens Advisory Inc. now owns 630 shares of the asset manager’s stock worth $598,000 after acquiring an additional 174 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BLK shares. UBS Group lifted their price target on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods dropped their price target 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. StockNews.com began coverage on BlackRock in a research report on Saturday, February 1st. They issued a “hold” rating on the stock. Evercore ISI boosted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley upped their price target on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research 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 stock. According to MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

BlackRock Stock Down 0.1 %

NYSE:BLK opened at $1,014.43 on Thursday. The stock has a 50-day simple moving average of $1,025.92 and a 200 day simple moving average of $966.48. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The company has a market cap of $157.11 billion, a PE ratio of 24.15, a PEG ratio of 2.06 and a beta of 1.28.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS 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 firm 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 firm posted $9.66 earnings per share. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. On average, sell-side analysts expect that BlackRock, Inc. will post 47.45 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $5.21 per share. The ex-dividend date is Friday, March 7th. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a yield of 2.05%. BlackRock’s dividend payout ratio is 48.57%.

Insider Activity at BlackRock

In other news, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the sale, the director now directly owns 68,433 shares of the company’s stock, valued at approximately $69,117,330. The trade was a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,190 shares of company stock valued at $115,163,141. Insiders own 0.90% of the company’s stock.

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.