1ST Source Bank Reduces Stock Position in BlackRock, Inc. (NYSE:BLK)

1ST Source Bank cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,032 shares of the asset manager’s stock after selling 24 shares during the period. 1ST Source Bank’s holdings in BlackRock were worth $1,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BLK. State Street Corp lifted its holdings in BlackRock by 0.7% in the third quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock valued at $5,681,472,000 after acquiring an additional 42,757 shares during the period. Geode Capital Management LLC increased its position in shares of BlackRock by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock valued at $2,663,330,000 after purchasing an additional 30,182 shares during the last quarter. FMR LLC lifted its stake in shares of BlackRock by 10.6% in the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after purchasing an additional 226,135 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of BlackRock by 1.9% in the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock worth $2,081,561,000 after buying an additional 40,865 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in BlackRock by 17.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,102,643 shares of the asset manager’s stock valued at $1,130,330,000 after buying an additional 160,323 shares during the period. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 430 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $949.37, for a total value of $408,229.10. Following the sale, the director now owns 3,720 shares in the company, valued at approximately $3,531,656.40. The trade was a 10.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 20,430 shares of company stock valued at $21,234,629 in the last ninety days. Corporate insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of NYSE:BLK opened at $928.74 on Monday. The firm has a market cap of $144.19 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of 1.90 and a beta of 1.28. The firm has a fifty day moving average price of $983.61 and a 200 day moving average price of $986.99. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm earned $9.66 EPS. The business’s revenue was up 22.6% on a year-over-year basis. As a group, sell-side analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be paid a $5.21 dividend. This is an increase from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a yield of 2.24%. BlackRock’s payout ratio is presently 49.62%.

Wall Street Analysts Forecast Growth

BLK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lowered their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company upped their price target on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citigroup lifted their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, Barclays decreased their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,120.67.

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.