Elk River Wealth Management LLC Sells 74 Shares of BlackRock, Inc. (NYSE:BLK)

Elk River Wealth Management LLC lowered its position in BlackRock, Inc. (NYSE:BLK) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,268 shares of the asset manager’s stock after selling 74 shares during the quarter. Elk River Wealth Management LLC’s holdings in BlackRock were worth $4,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sovereign Financial Group Inc. increased its stake in BlackRock by 18.0% in the 1st quarter. Sovereign Financial Group Inc. now owns 380 shares of the asset manager’s stock worth $360,000 after acquiring an additional 58 shares during the last quarter. Littlejohn Financial Services Inc. increased its position in shares of BlackRock by 1.5% in the first quarter. Littlejohn Financial Services Inc. now owns 1,730 shares of the asset manager’s stock worth $1,637,000 after purchasing an additional 25 shares during the last quarter. SeaCrest Wealth Management LLC raised its stake in BlackRock by 6.7% in the first quarter. SeaCrest Wealth Management LLC now owns 1,016 shares of the asset manager’s stock valued at $962,000 after purchasing an additional 64 shares in the last quarter. Procyon Advisors LLC lifted its position in BlackRock by 9.9% during the first quarter. Procyon Advisors LLC now owns 833 shares of the asset manager’s stock valued at $789,000 after purchasing an additional 75 shares during the last quarter. Finally, Magnus Financial Group LLC grew its stake in BlackRock by 5.9% in the 1st quarter. Magnus Financial Group LLC now owns 414 shares of the asset manager’s stock worth $392,000 after buying an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 66,034 shares of the company’s stock, valued at approximately $56,261,628.34. The trade was a 2.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by corporate insiders.

BlackRock Trading Up 0.5%

Shares of BLK opened at $990.26 on Friday. The stock has a market capitalization of $153.42 billion, a P/E ratio of 23.58, a PEG ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a twelve month low of $752.30 and a twelve month high of $1,084.22. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $925.28 and a two-hundred day simple moving average of $973.54.

BlackRock (NYSE:BLK) last posted its 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. The company had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $9.81 earnings per share. On average, research analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be paid a dividend of $5.21 per share. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.10%. BlackRock’s dividend payout ratio (DPR) is presently 50.63%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BLK. Morgan Stanley dropped their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Citigroup cut 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. UBS Group decreased their price objective on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Wall Street Zen raised BlackRock to a “hold” rating in a research note on Saturday, May 24th. Finally, Wells Fargo & Company lifted their price target on shares of BlackRock from $1,035.00 to $1,105.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,082.46.

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.