Parsons Capital Management Inc. RI Has $5.75 Million Stake in BlackRock, Inc. (NYSE:BLK)
Parsons Capital Management Inc. RI reduced its position in BlackRock, Inc. (NYSE:BLK) by 2.9% during the first quarter, Holdings Channel reports. The institutional investor owned 14,999 shares of the asset manager’s stock after selling 445 shares during the period. Parsons Capital Management Inc. RI’s holdings in BlackRock were worth $5,752,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC boosted its stake in shares of BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares in the last quarter. Kings Point Capital Management boosted its stake in shares of BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after buying an additional 70 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of BlackRock during the first quarter worth approximately $108,000. Peoples Financial Services CORP. bought a new stake in shares of BlackRock during the first quarter worth approximately $115,000. Finally, Twin Tree Management LP boosted its stake in shares of BlackRock by 131.2% in the first quarter. Twin Tree Management LP now owns 343 shares of the asset manager’s stock worth $132,000 after buying an additional 1,443 shares in the last quarter. 80.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BlackRock, Inc. (BLK) traded up 0.04% during trading on Monday, reaching $426.70. 66,912 shares of the company were exchanged. The firm has a market capitalization of $69.21 billion, a PE ratio of 20.48 and a beta of 1.71. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.83. The company’s 50-day moving average is $427.11 and its 200 day moving average is $397.31.
BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.79%. BlackRock’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business earned $4.78 earnings per share. Equities research analysts expect that BlackRock, Inc. will post $21.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be paid a $2.50 dividend. The ex-dividend date is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.34%. BlackRock’s dividend payout ratio (DPR) is 47.98%.
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A number of brokerages have recently commented on BLK. BidaskClub cut BlackRock from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Deutsche Bank AG reissued a “buy” rating and issued a $455.00 price target (down from $465.00) on shares of BlackRock in a research report on Tuesday, July 18th. Zacks Investment Research cut BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC reissued a “hold” rating and issued a $387.00 price target on shares of BlackRock in a research report on Wednesday, May 17th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $534.00 price target on shares of BlackRock in a research report on Tuesday, July 18th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $434.93.
In other news, insider Mark Mccombe sold 500 shares of BlackRock stock in a transaction on Friday, May 26th. The shares were sold at an average price of $405.98, for a total transaction of $202,990.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan Wagner sold 2,500 shares of BlackRock stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the sale, the director now owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The disclosure for this sale can be found here. Insiders have sold 3,772 shares of company stock valued at $1,567,516 over the last quarter. Insiders own 1.86% of the company’s stock.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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