BlackRock $BLK Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI cut its position in shares of BlackRock (NYSE:BLK) by 10.5% during the 2nd quarter, Holdings Channel reports. The firm owned 8,730 shares of the asset manager’s stock after selling 1,025 shares during the period. Parsons Capital Management Inc. RI’s holdings in BlackRock were worth $9,160,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Garde Capital Inc. increased its position in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares during the period. Fairway Wealth LLC grew its holdings in shares of BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC grew its holdings in shares of BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 15 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock in the 1st quarter worth $31,000. Finally, Cheviot Value Management LLC acquired a new position in shares of BlackRock in the 1st quarter worth $30,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BLK has been the topic of a number of recent research reports. Barclays lifted their target price on BlackRock from $990.00 to $1,220.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Argus restated a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Jefferies Financial Group lifted their target price on BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Evercore ISI lifted their target price on BlackRock from $1,170.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Finally, Bank of America lifted their target price on BlackRock from $1,214.00 to $1,224.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,171.93.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 12,054 shares of BlackRock stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the completion of the sale, the chief executive officer owned 251,697 shares of the company’s stock, valued at approximately $283,267,354.71. This trade represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the sale, the director directly owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock worth $74,694,573 in the last ninety days. Company insiders own 1.98% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,142.33 on Thursday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,183.50. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $176.89 billion, a price-to-earnings ratio of 27.62, a P/E/G ratio of 2.23 and a beta of 1.45. The stock’s fifty day simple moving average is $1,128.09 and its 200-day simple moving average is $1,024.88.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned $10.36 earnings per share. On average, sell-side analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. BlackRock’s dividend payout ratio (DPR) is presently 50.39%.

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.