Parsec Financial Management Inc. cut its position in BlackRock Inc. (NYSE:BLK) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 75,471 shares of the company’s stock after selling 159 shares during the period. BlackRock makes up 2.5% of Parsec Financial Management Inc.’s holdings, making the stock its 4th largest position. Parsec Financial Management Inc.’s holdings in BlackRock were worth $25,851,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. Sun Life Financial INC acquired a new position in shares of BlackRock during the first quarter worth approximately $91,954,000. Ropes Wealth Advisors LLC boosted its position in shares of BlackRock by 35.3% in the first quarter. Ropes Wealth Advisors LLC now owns 387 shares of the company’s stock worth $132,000 after buying an additional 101 shares during the last quarter. Citizens Financial Group Inc RI boosted its position in shares of BlackRock by 16.1% in the first quarter. Citizens Financial Group Inc RI now owns 389 shares of the company’s stock worth $133,000 after buying an additional 54 shares during the last quarter. Financial Architects Inc boosted its position in shares of BlackRock by 7.8% in the second quarter. Financial Architects Inc now owns 431 shares of the company’s stock worth $148,000 after buying an additional 31 shares during the last quarter. Finally, Jolley Asset Management LLC boosted its position in shares of BlackRock by 51.6% in the second quarter. Jolley Asset Management LLC now owns 485 shares of the company’s stock worth $166,000 after buying an additional 165 shares during the last quarter. 81.58% of the stock is owned by institutional investors and hedge funds.
BlackRock Inc. (NYSE:BLK) traded up 0.332% on Friday, hitting $357.985. 629,675 shares of the company traded hands. BlackRock Inc. has a 12 month low of $280.55 and a 12 month high of $376.65. The firm has a market capitalization of $58.88 billion, a P/E ratio of 19.074 and a beta of 1.46. The stock’s 50-day moving average is $366.96 and its 200 day moving average is $356.59.
BlackRock (NYSE:BLK) last announced its earnings results on Thursday, July 14th. The company reported $4.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.82 by $0.04. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $4.96 EPS. Equities analysts forecast that BlackRock Inc. will post $19.23 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were paid a dividend of $2.29 per share. This represents a $9.16 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s dividend payout ratio (DPR) is presently 48.83%.
A number of equities analysts recently commented on BLK shares. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $410.00 price target for the company in a research note on Monday, September 19th. Barclays PLC lifted their price target on shares of BlackRock from $364.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 24th. Deutsche Bank AG lifted their price target on shares of BlackRock from $404.00 to $414.00 and gave the stock a “buy” rating in a research note on Friday, September 9th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of BlackRock in a research note on Monday, July 11th. Finally, Jefferies Group dropped their price target on shares of BlackRock from $359.00 to $357.00 and set a “hold” rating for the company in a research note on Monday, July 11th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $383.19.
In other news, Director Susan Wagner sold 79,346 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $366.35, for a total value of $29,068,407.10. Following the completion of the transaction, the director now owns 587,365 shares of the company’s stock, valued at $215,181,167.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director J. Richard Kushel sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $356.55, for a total transaction of $2,852,400.00. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
BlackRock Company Profile
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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