207 Shares in BlackRock $BLK Purchased by Northwest Quadrant Wealth Management LLC

Northwest Quadrant Wealth Management LLC bought a new position in shares of BlackRock (NYSE:BLK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 207 shares of the asset manager’s stock, valued at approximately $218,000.

Several other large investors have also recently added to or reduced their stakes in BLK. Dumont & Blake Investment Advisors LLC raised its holdings in shares of BlackRock by 0.3% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 3,634 shares of the asset manager’s stock worth $3,813,000 after purchasing an additional 10 shares during the period. Violich Capital Management Inc. purchased a new position in shares of BlackRock in the 2nd quarter worth about $420,000. Wealthstream Advisors Inc. purchased a new position in shares of BlackRock in the 2nd quarter worth about $226,000. Quotient Wealth Partners LLC raised its holdings in shares of BlackRock by 8.5% in the 2nd quarter. Quotient Wealth Partners LLC now owns 731 shares of the asset manager’s stock worth $767,000 after purchasing an additional 57 shares during the period. Finally, Stanley Laman Group Ltd. raised its holdings in shares of BlackRock by 2.7% in the 2nd quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock worth $357,000 after purchasing an additional 9 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BLK. Keefe, Bruyette & Woods raised their price objective on BlackRock from $1,215.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Barclays raised their price objective on BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a report on Wednesday. Cowen restated a “buy” rating on shares of BlackRock in a report on Wednesday. Telsey Advisory Group reiterated an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Finally, Bank of America raised their target price on BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,300.81.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $1,161.63 on Friday. The company has a market cap of $179.88 billion, a P/E ratio of 29.87, a PEG ratio of 2.01 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The business’s 50-day simple moving average is $1,140.85 and its 200 day simple moving average is $1,042.82.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same quarter last year, the business earned $11.46 EPS. BlackRock’s revenue for the quarter was up 25.2% compared to the same quarter last year. On average, sell-side analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is 53.59%.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at $68,763,964.50. This trade represents a 21.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the sale, the director owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 in the last quarter. Company insiders own 1.98% of the company’s stock.

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.