Quest Partners LLC Has $94,000 Stock Position in BlackRock, Inc. (NYSE:BLK)

Quest Partners LLC lessened its position in shares of BlackRock, Inc. (NYSE:BLK) by 95.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120 shares of the asset manager’s stock after selling 2,574 shares during the quarter. Quest Partners LLC’s holdings in BlackRock were worth $94,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BLK. Capital World Investors boosted its stake in shares of BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after purchasing an additional 1,279,952 shares during the last quarter. Capital Research Global Investors grew its holdings in BlackRock by 23.7% during the 4th quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after acquiring an additional 749,654 shares during the period. Mayflower Financial Advisors LLC raised its position in shares of BlackRock by 24,171.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock valued at $346,831,000 after acquiring an additional 414,300 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its position in shares of BlackRock by 1,829.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 297,985 shares of the asset manager’s stock worth $241,904,000 after purchasing an additional 282,543 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In related news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock worth $79,387,117 in the last quarter. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of several analyst reports. Morgan Stanley cut their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Evercore ISI increased their price target on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Barclays boosted their price objective on shares of BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Argus increased their target price on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company initiated coverage on shares of BlackRock in a research report on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $902.13.

BlackRock Stock Up 1.1 %

NYSE:BLK opened at $904.83 on Wednesday. The stock has a 50-day simple moving average of $862.13 and a 200 day simple moving average of $815.73. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $908.88. The company has a market cap of $134.46 billion, a PE ratio of 22.99, a PEG ratio of 1.92 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $9.28 EPS. On average, sell-side analysts expect that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be paid a dividend of $5.10 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.25%. BlackRock’s dividend payout ratio is 51.84%.

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.