BlackRock (NYSE:BLK) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its holdings in BlackRock (NYSE:BLK - Free Report) by 49.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,032 shares of the asset manager's stock after purchasing an additional 9,940 shares during the quarter. Sequoia Financial Advisors LLC's holdings in BlackRock were worth $28,425,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BLK. IAG Wealth Partners LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $26,000. Investment Management Corp VA ADV acquired a new stake in BlackRock during the fourth quarter worth approximately $30,000. Synergy Investment Management LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $40,000. Curio Wealth LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $41,000. Finally, Cedar Wealth Management LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BLK. Wells Fargo & Company lifted their price target on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Citigroup decreased 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 report on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. Finally, Barclays lifted their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, BlackRock currently has an average rating of "Moderate Buy" and an average target price of $1,102.08.

Insider Activity

In related news, Director J. Richard Kushel sold 2,000 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now owns 66,034 shares of the company's stock, valued at $56,261,628.34. This represents a 2.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.98% of the company's stock.

BlackRock Stock Up 1.8%

BlackRock stock traded up $18.56 during midday trading on Friday, hitting $1,049.35. 799,881 shares of the stock were exchanged, compared to its average volume of 695,037. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,084.22. The firm has a market cap of $162.58 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.13 and a beta of 1.41. 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 has a 50 day moving average price of $958.92 and a two-hundred day moving average price of $969.49.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The company's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.81 EPS. On average, sell-side analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were paid a $5.21 dividend. The ex-dividend date was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.99%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

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.