Alpine Bank Wealth Management Invests $252,000 in BlackRock (NYSE:BLK)

Alpine Bank Wealth Management bought a new stake in BlackRock (NYSE:BLK - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 266 shares of the asset manager's stock, valued at approximately $252,000.

Several other institutional investors have also recently bought and sold shares of the company. Mascoma Wealth Management LLC increased its position in shares of BlackRock by 9.5% during the fourth quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock worth $130,000 after acquiring an additional 11 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in BlackRock by 2.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after purchasing an additional 11 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its holdings in BlackRock by 4.5% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock worth $263,000 after purchasing an additional 11 shares in the last quarter. Convergence Financial LLC raised its stake in shares of BlackRock by 1.6% in the 4th quarter. Convergence Financial LLC now owns 783 shares of the asset manager's stock valued at $802,000 after purchasing an additional 12 shares during the period. Finally, Truvestments Capital LLC lifted its holdings in shares of BlackRock by 10.8% in the fourth quarter. Truvestments Capital LLC now owns 123 shares of the asset manager's stock valued at $126,000 after purchasing an additional 12 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BLK shares. JPMorgan Chase & Co. dropped their target price on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Morgan Stanley lowered their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Barclays boosted their price objective on shares of BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Bank of America decreased their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Finally, Citigroup cut their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,096.31.

BlackRock Stock Up 1.4%

BlackRock stock opened at $1,019.43 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The company's 50-day moving average is $955.81 and its 200-day moving average is $969.60. The firm has a market capitalization of $157.94 billion, a PE ratio of 24.77, a P/E/G ratio of 3.05 and a beta of 1.41. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the previous year, the business earned $9.81 earnings per share. The business's revenue was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm's 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 directly owns 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.98% of the company's stock.

About BlackRock

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.

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