AlphaQuest LLC Purchases 2,565 Shares of BlackRock $BLK

Key Points

• AlphaQuest LLC boosted its BlackRock stake by 179.5% in the fourth quarter, buying 2,565 additional shares to bring its total to 3,994 shares worth about $4.28 million.
• Other institutions were also active in BLK, while hedge funds and other institutional investors now own 80.69% of BlackRock’s stock.
• BlackRock reported better-than-expected quarterly results with EPS of $12.53 versus estimates of $12.40, and it also declared a quarterly dividend of $5.73 per share, payable June 23.

AlphaQuest LLC lifted its position in BlackRock (NYSE:BLK - Free Report) by 179.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,994 shares of the asset manager's stock after acquiring an additional 2,565 shares during the quarter. AlphaQuest LLC's holdings in BlackRock were worth $4,275,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BLK. Brighton Jones LLC increased its position in BlackRock by 23.1% during 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 period. Bison Wealth LLC increased its position in BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock valued at $1,078,000 after purchasing an additional 17 shares during the period. Schnieders Capital Management LLC. purchased a new position in BlackRock during the 2nd quarter valued at about $259,000. Nebula Research & Development LLC purchased a new position in BlackRock during the 2nd quarter valued at about $548,000. Finally, Osterweis Capital Management Inc. purchased a new position in BlackRock during the 2nd quarter valued at about $98,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Insider Activity

In related news, President Robert Kapito sold 8,739 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the transaction, the president owned 210,186 shares in the company, valued at approximately $222,082,527.60. This represents a 3.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laurence Fink sold 33,900 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the completion of the transaction, the chief executive officer owned 230,516 shares in the company, valued at approximately $242,168,583.80. This trade represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.92% of the company's stock.

BlackRock Stock Performance

BLK opened at $1,073.03 on Tuesday. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. The company has a market cap of $166.57 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 1.40 and a beta of 1.44. The firm's 50-day moving average price is $1,021.10 and its 200-day moving average price is $1,053.97.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.40 by $0.13. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the prior year, the company posted $9.64 earnings per share. The company's revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, equities analysts anticipate that BlackRock will post 52.8 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be issued a dividend of $5.73 per share. The ex-dividend date is Friday, June 5th. This represents a $22.92 annualized dividend and a dividend yield of 2.1%. BlackRock's dividend payout ratio is 57.53%.

Analyst Ratings Changes

A number of equities analysts have commented on BLK shares. Barclays boosted their target price on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. BMO Capital Markets boosted their target price on shares of BlackRock from $1,200.00 to $1,250.00 and gave the stock an "outperform" rating in a report on Monday, April 20th. Jefferies Financial Group reduced their target price on shares of BlackRock from $1,351.00 to $1,199.00 and set a "buy" rating for the company in a report on Wednesday, April 8th. JPMorgan Chase & Co. reduced their target price on shares of BlackRock from $1,269.00 to $1,128.00 and set a "neutral" rating for the company in a report on Monday, April 13th. Finally, The Goldman Sachs Group boosted their target price on shares of BlackRock from $1,181.00 to $1,313.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,269.06.

BlackRock Company Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

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