Parkside Financial Bank & Trust raised its stake in BlackRock, Inc. (NYSE:BLK) by 21.9% during the first quarter, Holdings Channel reports. The fund owned 624 shares of the asset manager’s stock after buying an additional 112 shares during the period. Parkside Financial Bank & Trust’s holdings in BlackRock were worth $239,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of BlackRock by 160.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,666 shares of the asset manager’s stock valued at $17,639,000 after buying an additional 30,003 shares during the last quarter. K2 Principal Fund L.P. increased its stake in shares of BlackRock by 100.9% in the third quarter. K2 Principal Fund L.P. now owns 6,970 shares of the asset manager’s stock valued at $2,526,000 after buying an additional 819,600 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in shares of BlackRock by 38.2% in the third quarter. Cetera Advisor Networks LLC now owns 1,024 shares of the asset manager’s stock valued at $372,000 after buying an additional 283 shares during the last quarter. Covington Capital Management increased its stake in shares of BlackRock by 1.5% in the third quarter. Covington Capital Management now owns 33,273 shares of the asset manager’s stock valued at $12,060,000 after buying an additional 500 shares during the last quarter. Finally, Marvin & Palmer Associates Inc. acquired a new stake in shares of BlackRock during the third quarter valued at approximately $2,107,000. 80.82% of the stock is currently owned by institutional investors and hedge funds.
BlackRock, Inc. (NYSE:BLK) opened at 418.50 on Friday. BlackRock, Inc. has a one year low of $317.60 and a one year high of $419.04. The stock has a 50 day moving average price of $394.77 and a 200 day moving average price of $385.61. The company has a market cap of $68.16 billion, a PE ratio of 20.56 and a beta of 1.72.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, April 19th. The asset manager reported $5.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.94 by $0.31. The business had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.86 billion. BlackRock had a return on equity of 11.20% and a net margin of 28.44%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $4.25 EPS. On average, equities analysts anticipate that BlackRock, Inc. will post $21.72 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Monday, June 5th will be paid a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, June 1st. BlackRock’s payout ratio is presently 48.11%.
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Several analysts recently commented on BLK shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BlackRock in a research note on Wednesday, March 8th. Morgan Stanley reiterated a “buy” rating on shares of BlackRock in a report on Saturday, March 18th. Deutsche Bank AG increased their target price on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $387.00 target price on shares of BlackRock in a report on Wednesday, May 17th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. BlackRock currently has an average rating of “Hold” and a consensus price target of $410.70.
In other BlackRock news, insider Mark Mccombe sold 500 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $405.98, for a total transaction of $202,990.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan Wagner sold 2,500 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $414.31, for a total value of $1,035,775.00. Following the transaction, the director now owns 484,386 shares of the company’s stock, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
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.
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
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