Three Seasons Wealth LLC Purchases New Position in BlackRock, Inc. (NYSE:BLK)

Three Seasons Wealth LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 558 shares of the asset manager's stock, valued at approximately $572,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. IAG Wealth Partners LLC purchased a new position in BlackRock in the fourth quarter valued at about $26,000. Collier Financial purchased a new position in BlackRock in the fourth quarter valued at approximately $32,000. Compass Planning Associates Inc bought a new position in BlackRock during the fourth quarter valued at $33,000. Atwood & Palmer Inc. purchased a new stake in BlackRock in the fourth quarter worth $36,000. Finally, West Financial Advisors LLC bought a new stake in shares of BlackRock in the fourth quarter valued at $39,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BLK has been the subject of several recent research reports. Citigroup decreased their price objective on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Barclays lifted their price objective on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. StockNews.com began coverage on BlackRock in a report on Tuesday, April 22nd. They set a "hold" rating on the stock. Finally, UBS Group reduced their price objective on shares of 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 issued a buy rating to the company. According to MarketBeat.com, BlackRock has an average rating of "Moderate Buy" and an average target price of $1,077.08.

BlackRock Price Performance

Shares of BLK traded up $5.98 during midday trading on Tuesday, reaching $919.72. The stock had a trading volume of 144,351 shares, compared to its average volume of 683,097. The company has a market capitalization of $142.79 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.90 and a beta of 1.38. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 12-month low of $748.78 and a 12-month high of $1,084.22. The company's 50-day moving average is $920.58 and its 200 day moving average is $983.34.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 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 analysts' expectations of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business's quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $9.81 earnings per share. On average, equities analysts predict that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were paid a $5.21 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from BlackRock's previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a yield of 2.27%. BlackRock's payout ratio is currently 50.63%.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 430 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $949.37, for a total transaction of $408,229.10. Following the completion of the sale, the director now owns 3,720 shares of the company's stock, valued at approximately $3,531,656.40. This represents a 10.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 22,430 shares of company stock worth $21,963,649 over the last three months. Company insiders own 1.98% of the company's stock.

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.