1ST Source Bank reduced its position in BlackRock, Inc. (NYSE:BLK – Free Report) by 2.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,059 shares of the asset manager’s stock after selling 29 shares during the quarter. 1ST Source Bank’s holdings in BlackRock were worth $834,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in BlackRock by 2.3% in the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after acquiring an additional 435,358 shares during the last quarter. Capital World Investors boosted its holdings in BlackRock by 57.3% during the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after acquiring an additional 1,279,952 shares during the period. Capital International Investors grew its position in BlackRock by 2.4% during the 4th quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after acquiring an additional 58,681 shares during the last quarter. Finally, Norges Bank purchased a new position in BlackRock in the 4th quarter worth approximately $1,812,920,000. 80.69% of the stock is currently owned by institutional investors.
Insider Activity
In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,042 shares of company stock worth $79,387,117. Insiders own 0.90% of the company’s stock.
BlackRock Trading Up 0.1 %
NYSE BLK opened at $885.73 on Friday. The firm has a market capitalization of $131.20 billion, a PE ratio of 22.51, a P/E/G ratio of 1.92 and a beta of 1.30. The stock’s 50 day moving average is $857.98 and its 200 day moving average is $814.47. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $903.46. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.
BlackRock (NYSE:BLK – Get Free Report) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.28 EPS. Research analysts forecast that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.
BlackRock Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio is 51.84%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on BLK. Barclays increased their price objective on BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Citigroup raised their price target on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company assumed coverage on shares of BlackRock in a research note on Thursday. They set an “overweight” rating and a $1,000.00 price objective for the company. Evercore ISI raised their target price on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Finally, TD Cowen lowered their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $902.13.
View Our Latest Stock Analysis on BLK
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.
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