STAR Financial Bank Has $1.60 Million Stake in BlackRock, Inc. (NYSE:BLK)

STAR Financial Bank lowered its stake in BlackRock, Inc. (NYSE:BLK) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,924 shares of the asset manager’s stock after selling 48 shares during the period. BlackRock accounts for 1.4% of STAR Financial Bank’s portfolio, making the stock its 18th largest position. STAR Financial Bank’s holdings in BlackRock were worth $1,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Catalina Capital Group LLC lifted its position in BlackRock by 77.9% during the 1st quarter. Catalina Capital Group LLC now owns 911 shares of the asset manager’s stock valued at $759,000 after purchasing an additional 399 shares during the period. Avidian Wealth Solutions LLC boosted its stake in BlackRock by 6.2% in the first quarter. Avidian Wealth Solutions LLC now owns 842 shares of the asset manager’s stock valued at $702,000 after acquiring an additional 49 shares during the last quarter. Southern Capital Advisors LLC grew its holdings in BlackRock by 1.1% during the 1st quarter. Southern Capital Advisors LLC now owns 1,538 shares of the asset manager’s stock worth $1,282,000 after acquiring an additional 17 shares during the period. Mediolanum International Funds Ltd bought a new stake in shares of BlackRock during the 1st quarter valued at $30,848,000. Finally, Larson Financial Group LLC lifted its stake in shares of BlackRock by 161.0% in the 1st quarter. Larson Financial Group LLC now owns 381 shares of the asset manager’s stock valued at $318,000 after purchasing an additional 235 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at $309,327,694.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Laurence Fink sold 30,978 shares of the business’s 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 transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 9,000 shares of the firm’s 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 owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of analyst reports. TD Cowen decreased their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $915.00 price target on shares of BlackRock in a research report on Tuesday, July 2nd. UBS Group decreased their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley increased their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $845.67.

BlackRock Stock Up 1.2 %

Shares of BLK traded up $9.72 during midday trading on Wednesday, hitting $812.00. The stock had a trading volume of 517,227 shares, compared to its average volume of 597,926. The firm has a market cap of $120.66 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 1.63 and a beta of 1.32. The company has a 50 day simple moving average of $784.68 and a two-hundred day simple moving average of $792.69. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. BlackRock’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $7.93 EPS. On average, analysts anticipate that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were given a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Friday, June 7th. BlackRock’s dividend payout ratio (DPR) is currently 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.