Stock Yards Bank & Trust Co. Sells 65 Shares of BlackRock, Inc. (NYSE:BLK)

Stock Yards Bank & Trust Co. lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 39,224 shares of the asset manager’s stock after selling 65 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in BlackRock were worth $30,882,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new stake in BlackRock during the first quarter worth approximately $27,000. Pineridge Advisors LLC bought a new stake in BlackRock in the 4th quarter valued at $28,000. Lam Group Inc. bought a new stake in BlackRock in the 1st quarter valued at $33,000. Fairman Group LLC bought a new position in BlackRock during the 4th quarter worth $35,000. Finally, Chilton Capital Management LLC bought a new position in BlackRock during the 1st quarter worth $38,000. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on BLK. Evercore ISI upped their price target on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Argus raised their target price on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley cut their price target on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Wells Fargo & Company started coverage on BlackRock in a research note on Thursday, September 12th. They set an “overweight” rating and a $1,000.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $902.13.

BlackRock Stock Up 1.1 %

Shares of NYSE BLK opened at $895.18 on Tuesday. The company has a market cap of $133.02 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 1.92 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $903.46. The stock has a 50-day moving average price of $860.07 and a two-hundred day moving average price of $815.10.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the prior year, the company earned $9.28 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts forecast that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Insider Buying and Selling

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The disclosure for this sale can be found here. Insiders have sold 93,042 shares of company stock worth $79,387,117 in the last 90 days. Insiders own 0.90% of the company’s stock.

BlackRock Company Profile

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.