Horizon Bancorp Inc. IN Grows Holdings in BlackRock $BLK

Key Points

• Horizon Bancorp Inc. IN significantly increased its stake in BlackRock by 164.9%, now owning 400 shares valued at approximately $420,000 as of their latest SEC filing.
• Several institutional investors have also increased their holdings in BlackRock, with hedge funds and other institutional investors owning 80.69% of the stock.
• BlackRock declared a quarterly dividend of $5.21 per share, resulting in an annualized dividend of $20.84 and a dividend yield of 1.8% with a payout ratio of 50.39%.

Horizon Bancorp Inc. IN grew its stake in BlackRock (NYSE:BLK - Free Report) by 164.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 400 shares of the asset manager's stock after acquiring an additional 249 shares during the period. Horizon Bancorp Inc. IN's holdings in BlackRock were worth $420,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. McLean Asset Management Corp increased its holdings in shares of BlackRock by 3.9% in the 2nd 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 in the last quarter. Trust Co. of Oklahoma increased its holdings in shares of BlackRock by 0.5% in the 2nd quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager's stock valued at $2,123,000 after purchasing an additional 10 shares in the last quarter. TOWER TRUST & INVESTMENT Co increased its holdings in shares of BlackRock by 1.3% in the 2nd quarter. TOWER TRUST & INVESTMENT Co now owns 799 shares of the asset manager's stock valued at $838,000 after purchasing an additional 10 shares in the last quarter. Ashton Thomas Securities LLC increased its holdings in shares of BlackRock by 4.7% in the 2nd quarter. Ashton Thomas Securities LLC now owns 223 shares of the asset manager's stock valued at $234,000 after purchasing an additional 10 shares in the last quarter. Finally, Ameriflex Group Inc. increased its holdings in shares of BlackRock by 8.8% in the 2nd quarter. Ameriflex Group Inc. now owns 123 shares of the asset manager's stock valued at $127,000 after purchasing an additional 10 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BlackRock

In related news, Director Rachel Lord sold 18,036 shares of the business'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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the sale, the director owned 3,506 shares of the company's stock, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock valued at $74,694,573 over the last three months. Insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

BLK has been the subject of several recent research reports. BMO Capital Markets initiated coverage on shares of BlackRock in a report on Friday, October 3rd. They set an "outperform" rating and a $1,280.00 target price for the company. Barclays raised their target price on shares of BlackRock from $1,210.00 to $1,310.00 and gave the company an "overweight" rating in a report on Wednesday. Wells Fargo & Company dropped their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a report on Wednesday, July 16th. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Finally, UBS Group restated a "neutral" rating and set a $980.00 target price on shares of BlackRock in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and an average price target of $1,258.13.

BlackRock Price Performance

BlackRock stock opened at $1,165.64 on Friday. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,184.13. The stock has a market capitalization of $180.50 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.21 and a beta of 1.45. The firm's 50-day moving average is $1,134.03 and its two-hundred day moving average is $1,033.55. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (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 analysts' expectations of $5.40 billion. During the same period last year, the company earned $10.36 EPS. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. Equities analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

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.

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