First Financial Corp IN Lowers Position in BlackRock, Inc. (NYSE:BLK)

First Financial Corp IN lessened its stake in BlackRock, Inc. (NYSE:BLKFree Report) by 10.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 219 shares of the asset manager’s stock after selling 26 shares during the quarter. First Financial Corp IN’s holdings in BlackRock were worth $183,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BLK. Capital Research Global Investors raised its stake in BlackRock by 23.7% during 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 purchasing an additional 749,654 shares in the last quarter. Capital World Investors raised its stake in BlackRock by 57.3% during the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after purchasing an additional 1,279,952 shares in the last quarter. Morgan Stanley raised its stake in BlackRock by 3.2% during the third quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after purchasing an additional 104,844 shares in the last quarter. Capital International Investors raised its stake in BlackRock by 2.4% during the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock valued at $2,006,490,000 after purchasing an additional 58,681 shares in the last quarter. Finally, Norges Bank purchased a new stake in BlackRock during the fourth quarter valued at $1,812,920,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley increased their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $845.42.

Get Our Latest Stock Analysis on BLK

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,151,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

BlackRock Trading Down 0.6 %

Shares of NYSE BLK traded down $4.56 during mid-day trading on Tuesday, reaching $794.39. The company had a trading volume of 394,002 shares, compared to its average volume of 606,781. The business’s 50-day moving average is $776.33 and its 200-day moving average is $792.19. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The stock has a market cap of $118.05 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.34. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00.

BlackRock (NYSE:BLKGet Free Report) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the prior year, the business posted $7.93 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts expect that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.57%. The ex-dividend date was Friday, June 7th. BlackRock’s payout ratio is 51.84%.

About BlackRock

(Free Report)

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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