Park Place Capital Corp Has $558,000 Position in BlackRock, Inc. (NYSE:BLK)

Park Place Capital Corp lifted its position in BlackRock, Inc. (NYSE:BLK) by 3.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 544 shares of the asset manager’s stock after purchasing an additional 16 shares during the quarter. Park Place Capital Corp’s holdings in BlackRock were worth $558,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC raised its holdings in shares of 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 buying an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of BlackRock by 104,468.9% during the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after purchasing an additional 791,874 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in BlackRock in the 4th quarter worth approximately $330,662,000. FMR LLC lifted its holdings in BlackRock by 10.6% during the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after buying an additional 226,135 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of BlackRock in the 3rd quarter valued at $115,377,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of BLK opened at $1,007.19 on Wednesday. The company has a 50 day moving average of $1,025.85 and a 200-day moving average of $951.47. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $155.99 billion, a P/E ratio of 23.98, a P/E/G ratio of 1.82 and a beta of 1.28. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,082.45.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.66 earnings per share. As a group, equities research analysts forecast that BlackRock, Inc. will post 47.43 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were paid a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.03%. BlackRock’s dividend payout ratio (DPR) is currently 48.57%.

Analysts Set New Price Targets

BLK has been the topic of several recent research reports. Citigroup raised their price target on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Evercore ISI boosted their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group upped their target price on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods decreased their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,120.67.

Insider Activity

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

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.