Bell Bank Has $614,000 Stock Position in BlackRock $BLK

Bell Bank lowered its position in BlackRock (NYSE:BLK) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 585 shares of the asset manager’s stock after selling 15 shares during the quarter. Bell Bank’s holdings in BlackRock were worth $614,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. McLean Asset Management Corp increased its holdings in shares of BlackRock by 3.9% in the second quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 10 shares during the period. Trust Co. of Oklahoma raised its holdings in BlackRock by 0.5% in the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock valued at $2,123,000 after acquiring an additional 10 shares in the last quarter. Detalus Advisors LLC increased its holdings in shares of BlackRock by 2.8% in the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager’s stock valued at $387,000 after acquiring an additional 11 shares during the period. Blue Bell Private Wealth Management LLC grew its holdings in BlackRock by 20.4% during the first quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager’s stock worth $62,000 after acquiring an additional 11 shares during the period. Finally, Focus Financial Network Inc. grew its position in shares of BlackRock by 1.8% in the second quarter. Focus Financial Network Inc. now owns 619 shares of the asset manager’s stock valued at $650,000 after purchasing an additional 11 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In related news, Director Fabrizio Freda sold 4,434 shares of the firm’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the transaction, the director owned 3,506 shares of the company’s stock, valued at $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Rachel Lord sold 18,036 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the sale, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company’s stock.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,142.76 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The company has a market capitalization of $176.96 billion, a P/E ratio of 27.63, a P/E/G ratio of 2.18 and a beta of 1.45. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,171.89. The firm’s 50 day simple moving average is $1,119.82 and its two-hundred day simple moving average is $1,012.87.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the firm posted $10.36 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. Research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be given a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. BlackRock’s dividend payout ratio is currently 50.39%.

Analysts Set New Price Targets

Several analysts have weighed in on BLK shares. Bank of America boosted their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. increased their price objective on shares of BlackRock from $1,018.00 to $1,093.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Wells Fargo & Company decreased their price objective on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research note on Wednesday, July 16th. Barclays increased their price target on shares of BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Finally, Telsey Advisory Group restated an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,154.07.

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.