SeaCrest Wealth Management LLC Buys 64 Shares of BlackRock, Inc. (NYSE:BLK)

SeaCrest Wealth Management LLC increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,016 shares of the asset manager’s stock after buying an additional 64 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in BlackRock were worth $962,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BLK. IAG Wealth Partners LLC acquired a new position in BlackRock in the 4th quarter worth about $26,000. Investment Management Corp VA ADV acquired a new position in BlackRock in the 4th quarter worth about $30,000. Collier Financial acquired a new position in BlackRock in the 4th quarter worth about $32,000. Compass Planning Associates Inc acquired a new position in BlackRock in the 4th quarter worth about $33,000. Finally, Synergy Investment Management LLC acquired a new position in BlackRock in the 4th quarter worth about $40,000. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BLK shares. Barclays increased their price target on BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, April 14th. TD Cowen decreased their price target on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price target on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Morgan Stanley decreased their price target on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. Finally, UBS Group decreased their price target on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,082.46.

BlackRock Stock Up 0.5%

BLK stock opened at $990.26 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The business’s 50 day moving average price is $925.28 and its two-hundred day moving average price is $973.54. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22. The company has a market capitalization of $153.42 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $9.81 EPS. As a group, analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a $5.21 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.10%. BlackRock’s payout ratio is presently 50.63%.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director now owns 66,034 shares of the company’s stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.98% of the stock is currently owned by company insiders.

BlackRock 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.