Bourgeon Capital Management Lowers stake in BlackRock (BLK)

BlackRock (BLK) : Bourgeon Capital Management reduced its stake in BlackRock by 31.63% during the most recent quarter end. The investment management company now holds a total of 8,585 shares of BlackRock which is valued at $3,160,654 after selling 3,972 shares in BlackRock , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.BlackRock makes up approximately 1.96% of Bourgeon Capital Management’s portfolio.

Other Hedge Funds, Including , Mitsubishi Ufj Kokusai Asset Management Ltd. reduced its stake in BLK by selling 1,901 shares or 2.86% in the most recent quarter. The Hedge Fund company now holds 64,554 shares of BLK which is valued at $23,766,201. BlackRock makes up approx 0.60% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.Bbva Compass Bancshares Inc boosted its stake in BLK in the latest quarter, The investment management firm added 451 additional shares and now holds a total of 6,246 shares of BlackRock which is valued at $2,287,598. BlackRock makes up approx 0.17% of Bbva Compass Bancshares Inc’s portfolio.Farmers Merchants Investments Inc boosted its stake in BLK in the latest quarter, The investment management firm added 1,275 additional shares and now holds a total of 13,001 shares of BlackRock which is valued at $4,677,500. BlackRock makes up approx 0.50% of Farmers Merchants Investments Inc’s portfolio.Creative Planning boosted its stake in BLK in the latest quarter, The investment management firm added 355 additional shares and now holds a total of 3,179 shares of BlackRock which is valued at $1,136,493. BlackRock makes up approx 0.01% of Creative Planning’s portfolio.

BlackRock closed down -3.06 points or -0.82% at $371.69 with 5,50,600 shares getting traded on Monday. Post opening the session at $374.54, the shares hit an intraday low of $370.93 and an intraday high of $375.9488 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, BlackRock reported $4.78 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 14, 2016. Analyst had a consensus of $4.79. The company had revenue of $2804.00 million for the quarter, compared to analysts expectations of $2805.03 million. The company’s revenue was down -3.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $4.96 EPS.

Investors should note that on Jul 20, 2016, BlackRock announced a cash dividend of $2.2900. The company’s management has announced Aug 31, 2016 as the ex-dividend date and fixed the record date on Sep 2, 2016. The payable date has been fixed on Sep 23, 2016.

Many Wall Street Analysts have commented on BlackRock. BlackRock was Downgraded by Keefe Bruyette to ” Mkt Perform” on Jul 15, 2016. Shares were Reiterated by Deutsche Bank on Jun 16, 2016 to “Buy” and Lowered the Price Target to $ 363 from a previous price target of $386 .

BlackRock Inc. is an investment management firm. The Company provides investment and risk management services to institutional and retail clients across the world. Its product offerings include single- and multi-asset class portfolios investing in equities fixed income alternatives and money market instruments. Products are offered directly and through intermediaries in a variety of vehicles including open-end and closed-end mutual funds iShares exchange-traded funds (ETFs) separate accounts collective investment funds and other pooled investment vehicles. The Company also offers its BlackRock Solutions investment and risk management technology platform Aladdin risk analytics and advisory services and solutions. It has $4.65 trillion of assets under management at December 31 2014.

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