Parsons Capital Management Inc. RI Buys 977 Shares of BlackRock, Inc. (NYSE:BLK)

Parsons Capital Management Inc. RI grew its position in shares of BlackRock, Inc. (NYSE:BLK) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,742 shares of the asset manager’s stock after purchasing an additional 977 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in BlackRock were worth $9,987,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FSA Wealth Management LLC bought a new stake in BlackRock during the third quarter valued at $26,000. Atwood & Palmer Inc. acquired a new position in shares of BlackRock in the 4th quarter valued at about $36,000. West Financial Advisors LLC bought a new stake in shares of BlackRock during the 4th quarter valued at about $39,000. Reston Wealth Management LLC bought a new stake in BlackRock in the third quarter worth approximately $37,000. Finally, MFA Wealth Advisors LLC lifted its stake in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the completion of the transaction, the director now directly owns 68,433 shares of the company’s stock, valued at approximately $69,117,330. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,190 shares of company stock worth $104,436,741 in the last quarter. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on BLK. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Evercore ISI increased their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. raised their price objective on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, UBS Group upped their target price on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Price Performance

BLK opened at $1,020.19 on Monday. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The company has a market capitalization of $158.01 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 1.82 and a beta of 1.28. The firm’s fifty day moving average price is $1,024.23 and its two-hundred day moving average price is $955.97.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the firm posted $9.66 EPS. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, analysts anticipate that BlackRock, Inc. will post 47.43 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were given a $5.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.00%. BlackRock’s dividend payout ratio is currently 48.57%.

BlackRock 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.