BlackRock, Inc. (NYSE:BLK) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,227 shares of the asset manager’s stock after selling 275 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in BlackRock were worth $6,677,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Northern Trust Corp boosted its position in BlackRock by 0.7% in the first quarter. Northern Trust Corp now owns 1,677,656 shares of the asset manager’s stock valued at $716,980,000 after buying an additional 11,082 shares during the last quarter. Geode Capital Management LLC boosted its position in BlackRock by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock valued at $566,150,000 after buying an additional 60,941 shares during the last quarter. Neuberger Berman Group LLC boosted its position in BlackRock by 11.4% in the first quarter. Neuberger Berman Group LLC now owns 665,134 shares of the asset manager’s stock valued at $284,258,000 after buying an additional 68,129 shares during the last quarter. Flossbach Von Storch AG boosted its position in BlackRock by 9.5% in the first quarter. Flossbach Von Storch AG now owns 638,366 shares of the asset manager’s stock valued at $272,818,000 after buying an additional 55,623 shares during the last quarter. Finally, Thoroughbred Financial Services LLC boosted its position in BlackRock by 50,843.9% in the second quarter. Thoroughbred Financial Services LLC now owns 485,495 shares of the asset manager’s stock valued at $48,550,000 after buying an additional 484,542 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

A number of equities research analysts recently commented on the company. Wells Fargo & Co upped their target price on BlackRock from $460.00 to $480.00 and gave the company an “average” rating in a research report on Wednesday, April 17th. Morgan Stanley upped their target price on BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. dropped their target price on BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Barclays upped their price objective on BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, UBS Group upped their price objective on BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $499.03.

BlackRock stock traded down $0.12 during mid-day trading on Thursday, hitting $411.25. The company had a trading volume of 14,802 shares, compared to its average volume of 539,973. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $492.00. The firm’s fifty day moving average is $463.17. The stock has a market cap of $64.33 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 1.54 and a beta of 1.51.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $6.52 by ($0.11). BlackRock had a return on equity of 13.23% and a net margin of 30.25%. The company had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the company posted $6.66 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts expect that BlackRock, Inc. will post 27.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.21%. BlackRock’s dividend payout ratio (DPR) is 49.02%.

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.

Further Reading: Special Dividends

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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