Quest Capital Management Inc. ADV trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 98.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 466 shares of the asset manager’s stock after selling 39,434 shares during the quarter. Quest Capital Management Inc. ADV’s holdings in BlackRock were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. FLC Capital Advisors increased its stake in shares of BlackRock by 5.4% in the 2nd quarter. FLC Capital Advisors now owns 1,021 shares of the asset manager’s stock worth $482,000 after acquiring an additional 52 shares in the last quarter. Freestone Capital Holdings LLC increased its stake in shares of BlackRock by 5.8% in the 2nd quarter. Freestone Capital Holdings LLC now owns 2,973 shares of the asset manager’s stock worth $1,395,000 after acquiring an additional 163 shares in the last quarter. Buckingham Asset Management LLC bought a new position in shares of BlackRock in the 2nd quarter worth about $313,000. Oakworth Capital Inc. increased its stake in shares of BlackRock by 8.8% in the 2nd quarter. Oakworth Capital Inc. now owns 765 shares of the asset manager’s stock worth $359,000 after acquiring an additional 62 shares in the last quarter. Finally, Usca Ria LLC bought a new position in shares of BlackRock in the 2nd quarter worth about $835,000. Institutional investors own 82.24% of the company’s stock.

A number of analysts have weighed in on BLK shares. Morgan Stanley raised their price objective on shares of BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. reduced their price objective on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Barclays raised their price objective on shares of BlackRock from $515.00 to $540.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, UBS Group raised their price objective on shares of BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $499.03.

NYSE:BLK traded up $2.68 on Wednesday, reaching $420.97. 3,934 shares of the stock traded hands, compared to its average volume of 566,313. The company has a market capitalization of $64.84 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.55 and a beta of 1.51. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 0.77. BlackRock, Inc. has a 12 month low of $360.79 and a 12 month high of $492.00. The company’s fifty day simple moving average is $457.37 and its 200 day simple moving average is $446.54.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 earnings per share for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.11). BlackRock had a net margin of 30.25% and a return on equity of 13.24%. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the business posted $6.66 earnings per share. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities analysts anticipate that BlackRock, Inc. will post 27.53 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th will be paid a $3.30 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.14%. BlackRock’s dividend payout ratio is presently 49.02%.

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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