1ST Source Bank Sells 24 Shares of BlackRock, Inc. (NYSE:BLK)

1ST Source Bank decreased its position in BlackRock, Inc. (NYSE:BLK) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,032 shares of the asset manager’s stock after selling 24 shares during the quarter. 1ST Source Bank’s holdings in BlackRock were worth $1,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. United Bank boosted its holdings in BlackRock by 1.1% during the 3rd quarter. United Bank now owns 1,121 shares of the asset manager’s stock valued at $1,064,000 after acquiring an additional 12 shares during the period. GSA Capital Partners LLP bought a new position in shares of BlackRock in the third quarter worth approximately $334,000. OneDigital Investment Advisors LLC increased its stake in shares of BlackRock by 5.4% in the third quarter. OneDigital Investment Advisors LLC now owns 2,749 shares of the asset manager’s stock worth $2,610,000 after buying an additional 142 shares during the period. Empowered Funds LLC boosted its position in BlackRock by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 2,713 shares of the asset manager’s stock valued at $2,576,000 after buying an additional 228 shares during the period. Finally, Natixis Advisors LLC grew its holdings in BlackRock by 8.6% in the 3rd quarter. Natixis Advisors LLC now owns 99,478 shares of the asset manager’s stock worth $94,455,000 after acquiring an additional 7,881 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 430 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 3,720 shares in the company, valued at $3,531,656.40. The trade was a 10.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 20,430 shares of company stock valued at $21,234,629. Insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of BLK opened at $928.74 on Monday. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,084.22. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market cap of $144.19 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.90 and a beta of 1.28. The business’s 50 day moving average price is $983.61 and its 200-day moving average price is $986.99.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the company posted $9.66 earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. Equities research analysts anticipate 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 dividend of $5.21 per share. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Friday, March 7th. BlackRock’s dividend payout ratio (DPR) is currently 49.62%.

Analysts Set New Price Targets

Several equities analysts have recently commented on BLK shares. StockNews.com started coverage on shares of BlackRock in a research note on Thursday. They set a “hold” rating for the company. Keefe, Bruyette & Woods reduced their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Citigroup increased their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

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.