Parallel Advisors LLC Has $10.83 Million Stake in BlackRock, Inc. (NYSE:BLK)

Parallel Advisors LLC lessened its position in BlackRock, Inc. (NYSE:BLK - Free Report) by 2.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,441 shares of the asset manager's stock after selling 261 shares during the period. Parallel Advisors LLC's holdings in BlackRock were worth $10,829,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in BlackRock by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock valued at $13,712,493,000 after acquiring an additional 68,405 shares during the last quarter. Capital World Investors raised its holdings in shares of BlackRock by 2.3% in the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock worth $4,200,450,000 after purchasing an additional 93,844 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of BlackRock by 104,598.9% in the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after purchasing an additional 3,496,740 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of BlackRock by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock valued at $3,072,787,000 after buying an additional 190,188 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of BlackRock by 1.1% in the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock valued at $2,450,475,000 after buying an additional 26,485 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Up 0.2%

Shares of NYSE BLK traded up $1.63 during mid-day trading on Friday, reaching $977.95. The company had a trading volume of 1,060,907 shares, compared to its average volume of 690,922. BlackRock, Inc. has a twelve month low of $752.30 and a twelve month high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The stock has a market capitalization of $151.51 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The stock's 50 day moving average is $922.34 and its 200-day moving average is $975.46.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period in the prior year, the firm posted $9.81 EPS. The business's revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be issued a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.13%. BlackRock's dividend payout ratio is currently 50.63%.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of recent analyst reports. Barclays boosted their target price on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Morgan Stanley cut their price objective on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Citigroup cut their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. UBS Group cut their price target on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,077.08.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the transaction, the director now owns 66,034 shares in the company, valued at $60,256,025. This represents a 13.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.98% of the stock is currently owned by corporate insiders.

About BlackRock

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.