Clear Creek Financial Management LLC Has $455,000 Stock Position in BlackRock, Inc. (NYSE:BLK)

Clear Creek Financial Management LLC boosted its stake in BlackRock, Inc. (NYSE:BLK) by 42.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 444 shares of the asset manager’s stock after purchasing an additional 133 shares during the quarter. Clear Creek Financial Management LLC’s holdings in BlackRock were worth $455,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BLK. Oddo BHF Asset Management Sas bought a new position in BlackRock in the third quarter valued at approximately $518,000. Erste Asset Management GmbH bought a new position in shares of BlackRock in the 3rd quarter valued at $32,904,000. Raymond James Trust N.A. raised its holdings in shares of BlackRock by 2.3% during the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after buying an additional 614 shares in the last quarter. MML Investors Services LLC lifted its position in shares of BlackRock by 2.8% during the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock worth $65,010,000 after buying an additional 1,852 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in BlackRock by 20.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock valued at $3,169,000 after acquiring an additional 565 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Robert L. Goldstein sold 54,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 10,000 shares of BlackRock 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 transaction, the director now directly owns 68,433 shares in the company, valued at $73,403,973.12. This represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,190 shares of company stock worth $115,163,141 in the last quarter. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BLK. Barclays reduced their price target on shares of 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. increased their price target on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Wells Fargo & Company upped their target price on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, TD Cowen lifted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

BlackRock Stock Up 0.4 %

Shares of NYSE BLK opened at $1,075.83 on Monday. 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 $166.63 billion, a PE ratio of 25.62, a P/E/G ratio of 1.90 and a beta of 1.28. The company’s fifty day simple moving average is $1,026.43 and its 200 day simple moving average is $963.00. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22.

BlackRock (NYSE:BLK) last released its quarterly earnings data 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 the consensus estimate of $5.57 billion. During the same quarter in the previous year, the company posted $9.66 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, sell-side analysts forecast that BlackRock, Inc. will post 47.45 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be issued a dividend of $5.21 per share. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, March 7th. BlackRock’s dividend payout ratio (DPR) is currently 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.