Quantum Capital Management Has $1.69 Million Stake in BlackRock, Inc. (BLK)
Quantum Capital Management cut its position in BlackRock, Inc. (NYSE:BLK) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,011 shares of the asset manager’s stock after selling 23 shares during the quarter. Quantum Capital Management’s holdings in BlackRock were worth $1,694,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Enterprise Financial Services Corp raised its position in shares of BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after buying an additional 85 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of BlackRock in the 2nd quarter valued at approximately $104,000. Proficio Capital Partners LLC raised its position in shares of BlackRock by 48.9% in the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after buying an additional 85 shares in the last quarter. Kings Point Capital Management raised its position in shares of BlackRock by 34.5% in the 1st quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after buying an additional 70 shares in the last quarter. Finally, Financial Architects Inc raised its position in shares of BlackRock by 0.7% in the 2nd quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after buying an additional 2 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $460.00 price target (up from $422.00) on shares of BlackRock in a report on Monday, July 10th. BidaskClub raised shares of BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a report on Tuesday, August 29th. Deutsche Bank AG reaffirmed a “buy” rating and set a $455.00 price target (down from $465.00) on shares of BlackRock in a report on Tuesday, July 18th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $440.00 price target on shares of BlackRock in a report on Friday, August 18th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $456.54.
In other BlackRock news, insider Jeff A. Smith sold 522 shares of the stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total transaction of $220,033.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. Insiders have sold 4,447 shares of company stock worth $1,855,015 over the last quarter. Company insiders own 1.86% of the company’s stock.
Shares of BlackRock, Inc. (NYSE BLK) opened at 447.09 on Friday. The firm’s 50-day moving average is $422.45 and its 200-day moving average is $406.87. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $448.53. The company has a market capitalization of $72.52 billion, a price-to-earnings ratio of 21.46 and a beta of 1.71.
BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.39 by ($0.15). BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the business earned $4.78 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts predict that BlackRock, Inc. will post $21.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Thursday, August 31st. BlackRock’s payout ratio is currently 47.98%.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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