Proquility Private Wealth Partners LLC Reduces Stake in BlackRock, Inc. (NYSE:BLK)

Proquility Private Wealth Partners LLC lessened its stake in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 1.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,046 shares of the asset manager’s stock after selling 99 shares during the quarter. BlackRock comprises 1.6% of Proquility Private Wealth Partners LLC’s portfolio, making the stock its 19th largest holding. Proquility Private Wealth Partners LLC’s holdings in BlackRock were worth $4,096,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in BlackRock in the 4th quarter worth approximately $1,812,920,000. International Assets Investment Management LLC grew its position in BlackRock by 77,524.5% during the fourth quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock worth $5,211,390,000 after buying an additional 641,128 shares in the last quarter. FMR LLC increased its stake in BlackRock by 22.0% in the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after acquiring an additional 379,631 shares during the last quarter. Invesco Ltd. raised its holdings in shares of BlackRock by 84.4% in the 3rd quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock valued at $481,486,000 after acquiring an additional 340,792 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of BlackRock by 21.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after acquiring an additional 307,516 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Down 0.3 %

Shares of NYSE BLK traded down $2.65 during midday trading on Monday, reaching $781.90. The company had a trading volume of 429,000 shares, compared to its average volume of 606,121. 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, Inc. has a one year low of $596.18 and a one year high of $845.00. The firm’s fifty day moving average price is $789.60 and its 200-day moving average price is $785.18. The stock has a market cap of $116.19 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 1.61 and a beta of 1.37.

BlackRock (NYSE:BLKGet Free Report) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $7.93 EPS. On average, equities research analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, June 6th. BlackRock’s payout ratio is 51.84%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. UBS Group upped their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Morgan Stanley raised their price target on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $845.42.

View Our Latest Research Report on BLK

Insiders Place Their Bets

In related news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the transaction, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,956 shares of company stock worth $57,252,931. 0.90% of the stock is currently owned by company insiders.

BlackRock Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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