Parcion Private Wealth LLC Decreases Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Parcion Private Wealth LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,084 shares of the asset manager’s stock after selling 141 shares during the period. Parcion Private Wealth LLC’s holdings in BlackRock were worth $8,287,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its stake in shares of BlackRock by 0.7% in the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock valued at $5,681,472,000 after buying an additional 42,757 shares during the period. Geode Capital Management LLC boosted its stake in BlackRock by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock worth $2,663,330,000 after buying an additional 30,182 shares during the period. FMR LLC increased its position in shares of BlackRock by 10.6% during the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after acquiring an additional 226,135 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of BlackRock by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock worth $2,081,561,000 after acquiring an additional 40,865 shares during the last quarter. Finally, Pathway Financial Advisers LLC raised its position in BlackRock by 89,389.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after purchasing an additional 1,044,962 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the topic of several analyst reports. JPMorgan Chase & Co. increased 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. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley raised their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Evercore ISI increased their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, UBS Group lifted their price target on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Stock Up 0.9 %

BLK stock opened at $987.08 on Thursday. The stock has a market capitalization of $152.88 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 1.87 and a beta of 1.28. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22. The company has a fifty day moving average of $1,014.60 and a 200-day moving average of $975.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the firm earned $9.66 EPS. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, analysts expect that BlackRock, Inc. will post 47.44 EPS for the current year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be paid a $5.21 dividend. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. This represents a $20.84 annualized dividend and a dividend yield of 2.11%. BlackRock’s dividend payout ratio (DPR) is 48.57%.

Insider Activity

In related news, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $6,777,432. The trade was a 84.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 110,190 shares of company stock worth $115,163,141. Company insiders own 0.90% of the company’s stock.

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.