Quotient Wealth Partners LLC Has $574,000 Position in BlackRock, Inc. (NYSE:BLK)

Quotient Wealth Partners LLC trimmed its stake in BlackRock, Inc. (NYSE:BLK) by 38.9% in the second quarter, HoldingsChannel reports. The firm owned 729 shares of the asset manager’s stock after selling 464 shares during the period. Quotient Wealth Partners LLC’s holdings in BlackRock were worth $574,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BLK. Herold Advisors Inc. raised its stake in BlackRock by 9.9% during the 2nd quarter. Herold Advisors Inc. now owns 1,604 shares of the asset manager’s stock worth $1,263,000 after buying an additional 145 shares during the period. Van Lanschot Kempen Investment Management N.V. raised its position in shares of BlackRock by 7.8% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 65,626 shares of the asset manager’s stock worth $51,669,000 after purchasing an additional 4,767 shares during the period. Lebenthal Global Advisors LLC lifted its holdings in shares of BlackRock by 51.4% in the 2nd quarter. Lebenthal Global Advisors LLC now owns 1,429 shares of the asset manager’s stock worth $1,125,000 after purchasing an additional 485 shares in the last quarter. Everhart Financial Group Inc. grew its position in BlackRock by 21.7% in the 2nd quarter. Everhart Financial Group Inc. now owns 600 shares of the asset manager’s stock valued at $472,000 after purchasing an additional 107 shares during the period. Finally, Premier Path Wealth Partners LLC raised its holdings in BlackRock by 7.1% during the second quarter. Premier Path Wealth Partners LLC now owns 2,890 shares of the asset manager’s stock worth $2,275,000 after buying an additional 191 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BLK. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Morgan Stanley lowered their price objective on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Argus lifted their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. TD Cowen lowered their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Finally, Evercore ISI lifted their price objective on shares of BlackRock from $910.00 to $920.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $874.07.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the sale, the director now owns 6,480 shares in the company, valued at $5,407,041.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The disclosure for this sale can be found here. Insiders sold a total of 81,042 shares of company stock valued at $68,587,117 in the last three months. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BLK traded up $17.60 during trading hours on Friday, hitting $882.84. The stock had a trading volume of 416,346 shares, compared to its average volume of 595,632. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $885.10. The company’s fifty day simple moving average is $828.48 and its 200 day simple moving average is $805.18. The stock has a market cap of $131.19 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.32. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the firm posted $9.28 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that BlackRock, Inc. will post 41.23 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.31%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio is presently 51.84%.

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.