BlackRock $BLK Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN lifted its position in shares of BlackRock (NYSE:BLK) by 6.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,005 shares of the asset manager’s stock after purchasing an additional 1,089 shares during the quarter. OLD National Bancorp IN’s holdings in BlackRock were worth $18,892,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC lifted its position in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC lifted its position in shares of BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 15 shares in the last quarter. Garde Capital Inc. lifted its position in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after buying an additional 18 shares in the last quarter. Cheviot Value Management LLC purchased a new position in shares of BlackRock during the 1st quarter valued at approximately $30,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of BlackRock during the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BLK shares. Keefe, Bruyette & Woods decreased their target price on BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 16th. Weiss Ratings restated a “buy (b-)” rating on shares of BlackRock in a report on Saturday, September 27th. Telsey Advisory Group restated an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Barclays raised their price objective on BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Finally, The Goldman Sachs Group raised their price objective on BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,213.67.

BlackRock Stock Up 0.0%

Shares of NYSE:BLK opened at $1,160.75 on Friday. The business has a 50-day moving average price of $1,129.67 and a 200 day moving average price of $1,028.18. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $179.74 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 2.22 and a beta of 1.45. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,183.50.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $10.36 EPS. Sell-side analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.39%.

Insiders Place Their Bets

In related news, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the sale, the director directly owned 19,205 shares of the company’s stock, valued at approximately $21,617,148. This trade represents a 48.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 12,054 shares of BlackRock stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the completion of the transaction, the chief executive officer directly owned 251,697 shares of the company’s stock, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock valued at $74,694,573 over the last 90 days. Company insiders own 1.98% 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.