Park Capital Management LLC WI Purchases New Shares in BlackRock (NYSE:BLK)

Park Capital Management LLC WI purchased a new stake in BlackRock (NYSE:BLK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 293 shares of the asset manager's stock, valued at approximately $277,000.

Several other large investors have also added to or reduced their stakes in the stock. Palumbo Wealth Management LLC boosted its holdings in BlackRock by 20.3% in the first quarter. Palumbo Wealth Management LLC now owns 451 shares of the asset manager's stock valued at $427,000 after acquiring an additional 76 shares in the last quarter. Centerpoint Advisory Group bought a new stake in shares of BlackRock during the 1st quarter valued at $822,000. Jmac Enterprises LLC bought a new stake in shares of BlackRock during the 1st quarter valued at $1,070,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of BlackRock by 4.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,171 shares of the asset manager's stock valued at $18,145,000 after buying an additional 774 shares in the last quarter. Finally, Crumly & Associates Inc. boosted its holdings in shares of BlackRock by 1.5% during the 1st quarter. Crumly & Associates Inc. now owns 864 shares of the asset manager's stock valued at $818,000 after buying an additional 13 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

NYSE BLK opened at $974.60 on Monday. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,084.22. The firm has a market capitalization of $150.99 billion, a P/E ratio of 23.68, a PEG ratio of 2.96 and a beta of 1.41. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $948.55 and a 200-day moving average price of $969.40.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The firm had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same quarter in the prior year, the firm earned $9.81 EPS. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced 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. This represents a $20.84 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, June 5th. BlackRock's dividend payout ratio is 50.63%.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred 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 of the company's stock, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BLK shares. JPMorgan Chase & Co. dropped their target price on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Barclays boosted their target price on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. UBS Group dropped their target price 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. Bank of America lowered their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company lifted their price target on BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,096.31.

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.

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