BlackRock, Inc. (NYSE:BLK) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust trimmed its position in BlackRock, Inc. (NYSE:BLK) by 11.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 562 shares of the asset manager’s stock after selling 74 shares during the period. Parkside Financial Bank & Trust’s holdings in BlackRock were worth $442,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BLK. Norges Bank purchased a new stake in BlackRock in the fourth quarter valued at $1,812,920,000. Capital World Investors raised its holdings in BlackRock by 57.3% in 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 buying an additional 1,279,952 shares during the period. Capital Research Global Investors lifted its position in BlackRock by 23.7% in the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock valued at $3,181,346,000 after buying an additional 749,654 shares during the last quarter. Mayflower Financial Advisors LLC boosted its stake in BlackRock by 24,171.5% during the first quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock worth $346,831,000 after buying an additional 414,300 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after acquiring an additional 292,017 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following 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 SEC, which can be accessed through this hyperlink. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock valued at $79,387,117 over the last three months. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BLK has been the subject of a number of research analyst reports. Barclays started coverage on shares of BlackRock in a research report on Tuesday, August 27th. They set an “overweight” rating and a $985.00 price objective for the company. Argus lifted their price objective on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Evercore ISI increased their target price on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup lifted their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, TD Cowen reduced their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock 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 company’s stock. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $883.13.

BlackRock Stock Down 1.1 %

BLK opened at $866.92 on Friday. The stock has a market capitalization of $128.82 billion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a one year low of $596.18 and a one year high of $903.46. The business’s 50-day simple moving average is $848.57 and its 200-day simple moving average is $811.77.

BlackRock (NYSE:BLK) 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. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the previous year, the company posted $9.28 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts anticipate that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

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.