Perigon Wealth Management LLC Sells 33 Shares of BlackRock, Inc. (NYSE:BLK)

Perigon Wealth Management LLC lessened its stake in BlackRock, Inc. (NYSE:BLK) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,686 shares of the asset manager’s stock after selling 33 shares during the period. Perigon Wealth Management LLC’s holdings in BlackRock were worth $2,674,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FSA Wealth Management LLC bought a new stake in shares of BlackRock in the 3rd quarter valued at about $26,000. Atwood & Palmer Inc. bought a new stake in shares of BlackRock in the 4th quarter valued at about $36,000. Reston Wealth Management LLC bought a new stake in shares of BlackRock in the 3rd quarter valued at about $37,000. MFA Wealth Advisors LLC lifted its stake in shares of 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 last quarter. Finally, West Financial Advisors LLC purchased a new stake in BlackRock in the 4th quarter worth approximately $39,000. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

BLK has been the subject of several research analyst reports. TD Cowen increased their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Citigroup increased their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. StockNews.com began coverage on BlackRock in a report on Friday, January 24th. They issued a “hold” rating for the company. The Goldman Sachs Group increased their target price on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. increased their target price on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Three 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 $1,120.67.

Insiders Place Their Bets

In other news, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their position. 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 on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the transaction, the director now owns 68,433 shares in the company, valued at approximately $69,117,330. This trade represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,190 shares of company stock valued at $104,436,741. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Up 0.2 %

BLK stock opened at $1,053.50 on Thursday. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,082.45. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The firm has a market cap of $163.17 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. The business has a 50 day moving average of $1,024.30 and a 200 day moving average of $958.99.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company’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 EPS. On average, research analysts forecast that BlackRock, Inc. will post 47.43 EPS for the current fiscal year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be issued a $5.21 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.98%. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

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.