Park Capital Management LLC WI Invests $277,000 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 disclosure with the Securities and Exchange Commission. The firm purchased 293 shares of the asset manager's stock, valued at approximately $277,000.

A number of other hedge funds have also added to or reduced their stakes in BLK. Vanguard Group Inc. grew its stake in shares of BlackRock by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock worth $13,712,493,000 after acquiring an additional 68,405 shares in the last quarter. Capital World Investors boosted its holdings in BlackRock by 2.3% during the fourth 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 during the last quarter. GAMMA Investing LLC boosted its holdings in BlackRock by 104,598.9% during the first 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 during the last quarter. Geode Capital Management LLC grew its position in BlackRock by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock worth $3,072,787,000 after purchasing an additional 190,188 shares in the last quarter. Finally, FMR LLC increased its stake in BlackRock by 1.1% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Performance

BlackRock stock traded up $13.30 during midday trading on Thursday, reaching $1,031.38. The stock had a trading volume of 631,243 shares, compared to its average volume of 693,551. The firm has a market capitalization of $159.79 billion, a PE ratio of 25.06, a P/E/G ratio of 3.09 and a beta of 1.41. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,084.22. 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 firm's 50-day moving average price is $958.92 and its 200 day moving average price is $969.49.

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

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Thursday, June 5th. BlackRock's payout ratio is currently 50.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Argus boosted their price objective on BlackRock from $1,028.00 to $1,090.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Barclays raised their target price on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Wells Fargo & Company boosted their price target on shares of BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Finally, TD Cowen reduced their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,096.31.

Insider Activity

In other news, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $852.01, for a total value of $1,704,020.00. Following the sale, the director now directly owns 66,034 shares of the company's stock, valued at approximately $56,261,628.34. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.98% of the stock is owned by company insiders.

BlackRock Company 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.