BlackRock $BLK Stake Lifted by Park National Corp OH

Key Points

• Park National Corp OH increased its BlackRock stake by 4.5% in the third quarter, bringing its holdings to 28,488 shares valued at approximately $28.9 million. Hedge funds and institutional investors collectively own 80.69% of BlackRock.
• Analyst sentiment remains favorable, with one Strong Buy, fourteen Buy, and three Hold ratings. BlackRock has a “Moderate Buy” consensus rating and an average price target of $1,304.35.
• BlackRock exceeded quarterly earnings and revenue expectations, reporting $13.91 in EPS and $7.08 billion in revenue, while revenue rose 30.6% year over year. The company also declared a quarterly dividend of $5.73, equivalent to an annualized yield of about 2.2%.

Park National Corp OH raised its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 4.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,488 shares of the asset manager's stock after buying an additional 1,219 shares during the quarter. Park National Corp OH's holdings in BlackRock were worth $28,887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. RMG Wealth Management LLC acquired a new stake in shares of BlackRock in the first quarter valued at approximately $25,000. Addison Advisors LLC purchased a new stake in shares of BlackRock during the 2nd quarter valued at approximately $25,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in BlackRock in the second quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new stake in BlackRock during the second quarter worth $30,000. Finally, Wilkerson Advisory Group LLC raised its position in BlackRock by 100.0% in the first quarter. Wilkerson Advisory Group LLC now owns 34 shares of the asset manager's stock valued at $33,000 after purchasing an additional 17 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on BLK. BNP Paribas Exane upped their price target on BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a research note on Tuesday, June 23rd. BMO Capital Markets boosted their price objective on shares of BlackRock from $1,250.00 to $1,300.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Evercore reaffirmed an "outperform" rating and set a $1,260.00 target price on shares of BlackRock in a research note on Monday, August 10th. Barclays boosted their price target on shares of BlackRock from $1,340.00 to $1,450.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Finally, Morgan Stanley lowered their price objective on shares of BlackRock from $1,488.00 to $1,479.00 and set an "overweight" rating for the company in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,304.35.

BlackRock Stock Up 0.5%

BlackRock stock traded up $4.80 during mid-day trading on Monday, reaching $1,064.43. 181,607 shares of the company's stock were exchanged, compared to its average volume of 743,219. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The company has a market cap of $164.85 billion, a P/E ratio of 25.43, a P/E/G ratio of 1.17 and a beta of 1.41. The company has a fifty day moving average of $1,111.19 and a 200-day moving average of $1,055.22.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, topping analysts' consensus estimates of $12.69 by $1.22. The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The company's revenue was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $12.05 earnings per share. Sell-side analysts expect that BlackRock will post 55.9 EPS for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were given a $5.73 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. BlackRock's dividend payout ratio (DPR) is currently 54.78%.

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company serving individual investors, institutions, governments and financial professionals. The company provides investment management, risk management and advisory services across a broad range of asset classes, including equities, fixed income, multi-asset strategies, alternatives and cash management.

BlackRock offers investment products through mutual funds, exchange-traded funds and other vehicles. Its iShares brand is one of the company's principal platforms for exchange-traded funds, providing access to domestic and international markets, industry sectors, bonds, commodities and specialized investment strategies.

The company also provides technology and analytical solutions through its Aladdin platform, which is used by asset managers, institutional investors and other financial organizations for portfolio management, risk analysis, trading and operational support.

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