AlphaQuest LLC Buys 787 Shares of BlackRock $BLK

Key Points

• AlphaQuest LLC increased its stake in BlackRock by 239.2%, acquiring an additional 787 shares to total 1,116 shares valued at $1,171,000.
• Institutional investors and hedge funds collectively own 80.69% of BlackRock, demonstrating strong interest among major investors.
• Despite a missed earnings estimate in its latest quarterly report, BlackRock's revenue grew by 25.2% year-over-year, indicating solid business performance.

AlphaQuest LLC boosted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 239.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,116 shares of the asset manager's stock after purchasing an additional 787 shares during the period. AlphaQuest LLC's holdings in BlackRock were worth $1,171,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after purchasing an additional 296 shares during the last quarter. Bison Wealth LLC raised its stake in BlackRock by 1.6% in the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock valued at $1,078,000 after buying an additional 17 shares during the period. GAMMA Investing LLC lifted its position in shares of BlackRock by 10.6% in the first quarter. GAMMA Investing LLC now owns 3,698 shares of the asset manager's stock valued at $3,500,000 after buying an additional 355 shares during the last quarter. Nemes Rush Group LLC bought a new position in shares of BlackRock during the 1st quarter worth approximately $208,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of BlackRock by 10.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 37,855 shares of the asset manager's stock worth $35,829,000 after acquiring an additional 3,535 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BLK shares. Zacks Research downgraded BlackRock from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Loop Capital set a $1,255.00 target price on shares of BlackRock in a research note on Tuesday. Argus upped their price target on shares of BlackRock from $1,165.00 to $1,330.00 and gave the company a "buy" rating in a research note on Wednesday, October 15th. The Goldman Sachs Group increased their price target on shares of BlackRock from $1,163.00 to $1,312.00 and gave the company a "buy" rating in a report on Friday, October 3rd. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of BlackRock in a report on Wednesday, October 8th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,299.29.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 17,142 shares of the company's stock in a transaction 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 directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rachel Lord sold 12,000 shares of the firm's stock in a transaction on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the transaction, the director owned 7,205 shares in the company, valued at $8,394,113.20. The trade was a 62.48% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company's stock.

BlackRock Stock Performance

NYSE BLK opened at $1,138.60 on Friday. The firm has a 50-day moving average price of $1,139.57 and a two-hundred day moving average price of $1,053.41. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94. The company has a market capitalization of $176.31 billion, a P/E ratio of 29.28, a P/E/G ratio of 1.97 and a beta of 1.45. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The firm's quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $11.46 earnings per share. Analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

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.

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