Robertson Stephens Wealth Management LLC Sells 69 Shares of BlackRock, Inc. (NYSE:BLK)

Robertson Stephens Wealth Management LLC lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,691 shares of the asset manager’s stock after selling 69 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in BlackRock were worth $3,784,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Tyche Wealth Partners LLC increased its stake in BlackRock by 66.7% during the 4th quarter. Tyche Wealth Partners LLC now owns 2,520 shares of the asset manager’s stock worth $2,584,000 after acquiring an additional 1,008 shares during the period. Choreo LLC bought a new position in shares of BlackRock in the 4th quarter valued at $7,112,000. Country Club Bank increased its stake in shares of BlackRock by 1.2% in the 4th quarter. Country Club Bank now owns 2,981 shares of the asset manager’s stock valued at $3,063,000 after purchasing an additional 34 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of BlackRock by 9.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 90,994 shares of the asset manager’s stock valued at $94,944,000 after purchasing an additional 7,742 shares during the last quarter. Finally, Virginia Wealth Management Group Inc. increased its stake in shares of BlackRock by 0.6% in the 4th quarter. Virginia Wealth Management Group Inc. now owns 4,896 shares of the asset manager’s stock valued at $5,019,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the sale, the director now directly owns 68,433 shares of the company’s stock, valued at $73,403,973.12. The trade was a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,190 shares of company stock valued at $115,163,141. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays decreased their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Evercore ISI raised their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Citigroup raised their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Morgan Stanley raised 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. Finally, JPMorgan Chase & Co. raised their price objective on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

BlackRock Stock Down 0.1 %

Shares of BlackRock stock opened at $1,014.43 on Thursday. BlackRock, Inc. has a one year low of $745.55 and a one year 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’s 50-day moving average is $1,025.92 and its 200 day moving average is $966.48. The firm has a market cap of $157.11 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.06 and a beta of 1.28.

BlackRock (NYSE:BLK) last announced its 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 company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the company earned $9.66 EPS. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. Equities research analysts anticipate that BlackRock, Inc. will post 47.45 EPS for the current year.

BlackRock Increases Dividend

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

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.