OLD National Bancorp IN Trims Stock Holdings in BlackRock, Inc. (NYSE:BLK)

OLD National Bancorp IN reduced its stake in BlackRock, Inc. (NYSE:BLK - Free Report) by 5.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,916 shares of the asset manager's stock after selling 967 shares during the quarter. OLD National Bancorp IN's holdings in BlackRock were worth $16,011,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BLK. GAMMA Investing LLC lifted its position in BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after buying an additional 3,496,740 shares during the period. Norges Bank acquired a new stake in BlackRock during the fourth quarter worth about $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in BlackRock by 401.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock worth $1,122,743,000 after acquiring an additional 876,836 shares during the last quarter. Proficio Capital Partners LLC increased its stake in BlackRock by 138,682.5% during the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock worth $634,000 after acquiring an additional 633,779 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of BlackRock in the fourth quarter valued at about $572,730,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BLK shares. Barclays raised their price objective on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. Wells Fargo & Company increased their target price on BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a report on Wednesday. Morgan Stanley cut their price target on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. UBS Group cut their price target on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Citigroup cut their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,082.46.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction on Monday, April 21st. The stock was sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now owns 66,034 shares of the company's stock, valued at approximately $56,261,628.34. This trade represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.98% of the stock is currently owned by insiders.

BlackRock Stock Up 0.5%

Shares of BLK stock opened at $990.26 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The stock has a market cap of $153.42 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The business's fifty day moving average is $925.28 and its 200-day moving average is $973.18. BlackRock, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $9.81 EPS. Equities analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be given a $5.21 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.10%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

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.

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