BigSur Wealth Management LLC Sells 13 Shares of BlackRock, Inc. (NYSE:BLK)

BigSur Wealth Management LLC trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.7% during the fourth quarter, HoldingsChannel reports. The fund owned 476 shares of the asset manager’s stock after selling 13 shares during the period. BigSur Wealth Management LLC’s holdings in BlackRock were worth $488,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BLK. Marino Stram & Associates LLC raised its stake in shares of BlackRock by 0.3% in the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after purchasing an additional 10 shares during the period. Fidelity D & D Bancorp Inc. grew its holdings in shares of BlackRock by 3.7% during the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after buying an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC raised its position in BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after buying an additional 11 shares during the last quarter. Ballentine Partners LLC boosted its position in BlackRock by 0.3% during the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after acquiring an additional 11 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of BlackRock by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after acquiring an additional 11 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Up 0.9 %

Shares of BLK opened at $1,004.23 on Monday. The firm’s 50-day simple moving average is $1,027.33 and its 200 day simple moving average is $947.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm has a market cap of $155.54 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the company earned $9.66 earnings per share. On average, analysts forecast that BlackRock, Inc. will post 43.02 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were given a $5.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. BlackRock’s payout ratio is presently 50.35%.

Analysts Set New Price Targets

BLK has been the subject of several recent research reports. The Goldman Sachs Group increased their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. 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. Barclays dropped their target price on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Citigroup boosted their price target on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Finally, Wells Fargo & Company raised their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,103.33.

Insider Activity at BlackRock

In other BlackRock news, 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 transaction of $37,851,121.00. Following the transaction, the director now owns 6,480 shares in the company, valued at $6,777,432. This trade represents a 84.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the company’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 approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Company 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.