Quadrant Capital Group LLC Sells 50 Shares of BlackRock, Inc. (NYSE:BLK)

Quadrant Capital Group LLC reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,265 shares of the asset manager’s stock after selling 50 shares during the period. Quadrant Capital Group LLC’s holdings in BlackRock were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BLK. Abacus Planning Group Inc. raised its stake in shares of BlackRock by 4.0% during the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after acquiring an additional 13 shares during the last quarter. Knuff & Co LLC lifted its holdings in BlackRock by 48.1% during the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after buying an additional 13 shares during the period. Everhart Financial Group Inc. grew its position in shares of BlackRock by 3.2% in the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after buying an additional 14 shares during the last quarter. Spreng Capital Management Inc. increased its stake in shares of BlackRock by 1.1% in the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after buying an additional 14 shares during the period. Finally, Inscription Capital LLC lifted its stake in shares of BlackRock by 1.2% in the fourth quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock worth $1,034,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Down 1.0 %

NYSE BLK traded down $7.98 during mid-day trading on Thursday, hitting $807.72. The company’s stock had a trading volume of 486,170 shares, compared to its average volume of 617,230. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The firm has a market capitalization of $120.30 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.63 and a beta of 1.37. The company’s 50 day simple moving average is $793.27 and its 200 day simple moving average is $775.28. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $7.93 EPS. Analysts anticipate that BlackRock, Inc. will post 41.31 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be given a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Friday, June 7th. BlackRock’s payout ratio is currently 51.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BLK. JPMorgan Chase & Co. boosted their price target 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 reaffirmed an “outperform” rating and set a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. UBS Group lifted their price objective on 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 upped their target price 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 equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $845.42.

Insider Buying and Selling at BlackRock

In other news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the sale, the chief executive officer now owns 414,146 shares in the company, valued at approximately $335,425,128.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Laurence Fink sold 30,978 shares of the business’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 value of $25,089,701.76. Following the transaction, the chief executive officer now owns 414,146 shares in the company, valued at approximately $335,425,128.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the transaction, the director now directly 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 three months, insiders have sold 76,037 shares of company stock worth $61,743,127. Corporate insiders own 0.90% of the company’s stock.

BlackRock 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.