OLD National Bancorp IN cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 8.6% during the second quarter, Holdings Channel reports. The firm owned 33,606 shares of the asset manager’s stock after selling 3,143 shares during the period. OLD National Bancorp IN’s holdings in BlackRock were worth $14,195,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC increased its position in shares of BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after buying an additional 85 shares during the period. Kings Point Capital Management increased its position in shares of BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after buying an additional 70 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of BlackRock during the first quarter valued at $108,000. Twin Tree Management LP increased its position in shares of BlackRock by 131.2% in the first quarter. Twin Tree Management LP now owns 343 shares of the asset manager’s stock valued at $132,000 after buying an additional 1,443 shares during the period. Finally, NEXT Financial Group Inc increased its position in shares of BlackRock by 70.2% in the second quarter. NEXT Financial Group Inc now owns 388 shares of the asset manager’s stock valued at $164,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 80.33% of the company’s stock.
BlackRock, Inc. (NYSE:BLK) traded down 0.81% during mid-day trading on Friday, hitting $416.55. 1,015,041 shares of the company were exchanged. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.84. The company has a market cap of $67.57 billion, a price-to-earnings ratio of 19.99 and a beta of 1.71. The stock’s 50 day moving average is $428.07 and its 200-day moving average is $401.25.
BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the firm posted $4.78 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts predict that BlackRock, Inc. will post $21.85 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be given a dividend of $2.50 per share. The ex-dividend date is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.40%. BlackRock’s dividend payout ratio (DPR) is 47.98%.
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BLK has been the topic of a number of research analyst reports. Deutsche Bank AG reiterated a “buy” rating and set a $455.00 price objective (down from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective on the stock in a research note on Tuesday, June 20th. Bank of America Corporation reiterated a “buy” rating and set a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. BidaskClub downgraded shares of BlackRock from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $387.00 price objective on shares of BlackRock in a research note on Wednesday, May 17th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $443.00.
In related news, insider Mark Mccombe sold 500 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $405.98, for a total transaction of $202,990.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan Wagner sold 2,500 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the transaction, the director now owns 484,386 shares in the company, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,772 shares of company stock worth $1,567,516. 1.86% of the stock is owned by corporate insiders.
About BlackRock
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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