Parr Mcknight Wealth Management Group LLC Makes New $4.36 Million Investment in BlackRock, Inc. (NYSE:BLK)

Parr Mcknight Wealth Management Group LLC bought a new position in BlackRock, Inc. (NYSE:BLK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,252 shares of the asset manager's stock, valued at approximately $4,359,000.

Several other institutional investors have also made changes to their positions in BLK. IAG Wealth Partners LLC purchased a new position in BlackRock during the 4th quarter worth approximately $26,000. Investment Management Corp VA ADV purchased a new position in BlackRock during the 4th quarter valued at about $30,000. Collier Financial acquired a new stake in shares of BlackRock during the fourth quarter worth approximately $32,000. Compass Planning Associates Inc acquired a new stake in shares of BlackRock during the fourth quarter worth approximately $33,000. Finally, Synergy Investment Management LLC purchased a new position in BlackRock during the fourth quarter valued at approximately $40,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now directly owns 66,034 shares in the company, valued at $56,261,628.34. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 12,430 shares of company stock worth $11,237,249 in the last quarter. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Performance

BLK opened at $969.56 on Friday. The stock has a 50-day moving average of $920.79 and a 200-day moving average of $978.04. 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, Inc. has a 52-week low of $752.30 and a 52-week high of $1,084.22. The company has a market cap of $150.21 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41.

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

BlackRock Dividend Announcement

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 paid 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 2.15%. BlackRock's payout ratio is presently 50.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research note 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 for the company in a report on Monday, April 7th. Barclays lifted their price objective on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Wall Street Zen started coverage on BlackRock in a research report on Friday, May 16th. They issued a "hold" rating on the stock. Finally, Citigroup reduced their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,077.08.

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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