Parkside Investments LLC Acquires 600 Shares of BlackRock, Inc. (BLK)
Parkside Investments LLC grew its holdings in BlackRock, Inc. (NYSE:BLK) by 50.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,800 shares of the asset manager’s stock after acquiring an additional 600 shares during the quarter. Parkside Investments LLC’s holdings in BlackRock were worth $925,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Legal & General Group Plc lifted its position in BlackRock by 2.3% during the third quarter. Legal & General Group Plc now owns 608,209 shares of the asset manager’s stock worth $271,924,000 after purchasing an additional 13,939 shares during the period. TD Asset Management Inc. lifted its position in BlackRock by 1.4% during the third quarter. TD Asset Management Inc. now owns 449,827 shares of the asset manager’s stock worth $201,113,000 after purchasing an additional 6,394 shares during the period. Schwab Charles Investment Management Inc. lifted its position in BlackRock by 4.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 437,350 shares of the asset manager’s stock worth $224,672,000 after purchasing an additional 19,152 shares during the period. Atlantic Trust Group LLC lifted its position in BlackRock by 24.1% during the third quarter. Atlantic Trust Group LLC now owns 372,168 shares of the asset manager’s stock worth $166,393,000 after purchasing an additional 72,186 shares during the period. Finally, New York State Common Retirement Fund lifted its position in BlackRock by 9.7% during the third quarter. New York State Common Retirement Fund now owns 357,800 shares of the asset manager’s stock worth $159,969,000 after purchasing an additional 31,600 shares during the period. 83.27% of the stock is owned by institutional investors.
In other news, insider Jeff A. Smith sold 100 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $477.54, for a total value of $47,754.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Deryck C. Maughan acquired 3,861 shares of the stock in a transaction dated Wednesday, January 17th. The stock was purchased at an average cost of $573.44 per share, with a total value of $2,214,051.84. Following the purchase, the director now directly owns 12,265 shares of the company’s stock, valued at $7,033,241.60. The disclosure for this purchase can be found here. Insiders sold 5,775 shares of company stock valued at $2,983,400 in the last ninety days. 1.86% of the stock is currently owned by insiders.
BlackRock (NYSE:BLK) last issued its earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.94 by $0.30. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.33 billion. BlackRock had a return on equity of 12.54% and a net margin of 39.79%. The business’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.14 earnings per share. sell-side analysts forecast that BlackRock, Inc. will post 28.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be paid a $2.88 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $11.52 annualized dividend and a dividend yield of 2.21%. This is an increase from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio is currently 33.00%.
Several research firms recently weighed in on BLK. Citigroup cut shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price objective for the company. in a research report on Thursday, January 25th. Argus reaffirmed a “buy” rating and set a $620.00 price objective (up previously from $520.00) on shares of BlackRock in a research report on Tuesday, January 16th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $555.00 price objective (up previously from $535.00) on shares of BlackRock in a research report on Tuesday, January 16th. Jefferies Group upped their price objective on shares of BlackRock to $565.00 and gave the stock a “hold” rating in a research report on Monday, January 15th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $680.00 price objective on shares of BlackRock in a research report on Friday, January 12th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. BlackRock presently has a consensus rating of “Buy” and a consensus target price of $547.92.
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BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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