Parkside Investments LLC Acquires 200 Shares of BlackRock, Inc. (NYSE:BLK)

Parkside Investments LLC grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 25.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,000 shares of the asset manager’s stock after buying an additional 200 shares during the period. Parkside Investments LLC’s holdings in BlackRock were worth $834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BLK. Capital Research Global Investors lifted its position in shares of BlackRock by 23.7% in the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after buying an additional 749,654 shares in the last quarter. Capital World Investors boosted its position in shares of BlackRock by 57.3% during the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after acquiring an additional 1,279,952 shares during the last quarter. Morgan Stanley grew its holdings in shares of BlackRock by 3.2% in the third quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after purchasing an additional 104,844 shares in the last quarter. Capital International Investors increased its position in BlackRock by 2.4% in the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after purchasing an additional 58,681 shares during the last quarter. Finally, Norges Bank purchased a new stake in BlackRock during the fourth quarter valued at $1,812,920,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Morgan Stanley raised their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their price target on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Finally, UBS Group raised their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $845.42.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at $309,327,694.72. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

BlackRock Trading Down 0.8 %

BlackRock stock traded down $6.61 during trading hours on Wednesday, hitting $787.78. The company had a trading volume of 139,775 shares, compared to its average volume of 602,953. The firm has a market cap of $117.06 billion, a P/E ratio of 19.97, a P/E/G ratio of 1.65 and a beta of 1.34. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The company has a 50-day moving average price of $777.24 and a two-hundred day moving average price of $792.54.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $7.93 EPS. On average, sell-side analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.59%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

About BlackRock

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.