Corient Private Wealth LLC Has $118.26 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Corient Private Wealth LLC lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 25.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 115,644 shares of the asset manager’s stock after purchasing an additional 23,408 shares during the quarter. Corient Private Wealth LLC’s holdings in BlackRock were worth $118,264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Centurion Wealth Management LLC acquired a new position in BlackRock during the fourth quarter worth $699,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of BlackRock during the 4th quarter valued at about $29,309,000. Choate Investment Advisors increased its holdings in shares of BlackRock by 16.9% during the 4th quarter. Choate Investment Advisors now owns 2,813 shares of the asset manager’s stock valued at $2,884,000 after acquiring an additional 406 shares during the last quarter. Diversified Enterprises LLC lifted its holdings in BlackRock by 4.2% in the 4th quarter. Diversified Enterprises LLC now owns 345 shares of the asset manager’s stock worth $353,000 after purchasing an additional 14 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in BlackRock by 1.8% in the 4th quarter. Natixis Advisors LLC now owns 101,226 shares of the asset manager’s stock worth $103,768,000 after purchasing an additional 1,748 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the completion of the sale, the director now directly owns 68,433 shares of the company’s stock, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 20,430 shares of company stock valued at $21,234,629. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BLK shares. Morgan Stanley lifted their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Barclays cut their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Citigroup raised their price target on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. boosted their price objective on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Finally, UBS Group raised their target price on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

BlackRock Stock Performance

Shares of NYSE BLK opened at $928.74 on Monday. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22. The firm has a market capitalization of $144.19 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 1.90 and a beta of 1.28. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $983.61 and a 200 day simple moving average of $986.99.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business 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 EPS. BlackRock’s quarterly revenue was up 22.6% compared to the same quarter last year. Sell-side analysts expect that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 2.24%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. BlackRock’s dividend payout ratio is currently 49.62%.

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.