STAR Financial Bank Decreases Stock Holdings in BlackRock, Inc. (NYSE:BLK)

STAR Financial Bank lessened its position in shares of BlackRock, Inc. (NYSE:BLK) by 18.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,441 shares of the asset manager’s stock after selling 318 shares during the quarter. STAR Financial Bank’s holdings in BlackRock were worth $1,368,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fairscale Capital LLC acquired a new position in shares of BlackRock in the second quarter worth $31,000. Reston Wealth Management LLC acquired a new position in BlackRock in the third quarter valued at $37,000. MFA Wealth Advisors LLC raised its holdings in shares of BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the last quarter. Addison Advisors LLC raised its holdings in shares of BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after buying an additional 22 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new stake in shares of BlackRock in the second quarter valued at about $53,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Trading Down 0.3 %

NYSE BLK opened at $1,024.67 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a 50-day simple moving average of $978.33 and a 200-day simple moving average of $876.59. The firm has a market capitalization of $158.70 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.83 and a beta of 1.30. BlackRock, Inc. has a one year low of $718.72 and a one year high of $1,068.34.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the business posted $10.91 EPS. BlackRock’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts forecast that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.99%. BlackRock’s payout ratio is currently 50.35%.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Barclays increased their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. TD Cowen increased their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company raised their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock 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.