Parsec Financial Management Inc. Sells 159 Shares of BlackRock Inc. (BLK)
Parsec Financial Management Inc. lowered its position in shares of BlackRock Inc. (NYSE:BLK) by 0.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 75,471 shares of the company’s stock after selling 159 shares during the period. BlackRock comprises about 2.5% of Parsec Financial Management Inc.’s portfolio, making the stock its 4th largest position. Parsec Financial Management Inc.’s holdings in BlackRock were worth $25,851,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Capital Fund Management S.A. boosted its stake in shares of BlackRock by 1,742.8% in the second quarter. Capital Fund Management S.A. now owns 31,327 shares of the company’s stock worth $10,730,000 after buying an additional 29,627 shares during the last quarter. Windward Capital Management Co. CA boosted its position in BlackRock by 0.8% in the second quarter. Windward Capital Management Co. CA now owns 44,866 shares of the company’s stock valued at $15,368,000 after buying an additional 363 shares during the last quarter. Legal & General Group Plc boosted its position in BlackRock by 1.7% in the first quarter. Legal & General Group Plc now owns 525,766 shares of the company’s stock valued at $179,060,000 after buying an additional 8,694 shares during the last quarter. Royal Bank of Canada boosted its position in BlackRock by 2.2% in the first quarter. Royal Bank of Canada now owns 436,900 shares of the company’s stock valued at $148,796,000 after buying an additional 9,486 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its position in BlackRock by 0.4% in the second quarter. Cullen Frost Bankers Inc. now owns 57,047 shares of the company’s stock valued at $19,540,000 after buying an additional 227 shares during the last quarter. 81.58% of the stock is currently owned by institutional investors and hedge funds.
BlackRock Inc. (NYSE:BLK) traded up 0.332% during trading on Friday, reaching $357.985. 629,675 shares of the company were exchanged. The stock has a market capitalization of $58.88 billion, a P/E ratio of 19.074 and a beta of 1.46. BlackRock Inc. has a 1-year low of $280.55 and a 1-year high of $376.65. The company’s 50-day moving average price is $366.96 and its 200-day moving average price is $356.59.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by $0.04. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. The business earned $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the previous year, the business earned $4.96 earnings per share. The business’s quarterly revenue was down 3.5% on a year-over-year basis. On average, equities analysts forecast that BlackRock Inc. will post $19.23 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were paid a $2.29 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $9.16 dividend on an annualized basis and a dividend yield of 2.57%. BlackRock’s payout ratio is currently 48.83%.
Several research analysts have recently weighed in on the stock. Barclays PLC reaffirmed an “equal weight” rating and issued a $363.00 price target on shares of BlackRock in a report on Wednesday, June 15th. Deutsche Bank AG upped their price target on shares of BlackRock from $392.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Jefferies Group decreased their price target on shares of BlackRock from $359.00 to $357.00 and set a “hold” rating on the stock in a report on Monday, July 11th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of BlackRock in a report on Monday, July 11th. Finally, Vetr raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $382.97 price target on the stock in a report on Wednesday, August 10th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $383.19.
In other BlackRock news, Director James Grosfeld sold 25,379 shares of BlackRock stock in a transaction on Monday, August 29th. The shares were sold at an average price of $374.22, for a total value of $9,497,329.38. Following the completion of the transaction, the director now directly owns 514,402 shares of the company’s stock, valued at approximately $192,499,516.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director J. Richard Kushel sold 8,000 shares of BlackRock stock in a transaction on Friday, July 15th. The stock was 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. 2.20% of the stock is currently owned by company insiders.
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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