OLD National Bancorp IN Sells 967 Shares of BlackRock, Inc. (NYSE:BLK)

OLD National Bancorp IN cut its stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BLK. Brighton Jones LLC lifted its holdings in shares of BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after buying an additional 296 shares during the period. Silver Oak Securities Incorporated purchased a new position in BlackRock in the fourth quarter worth $301,000. Telos Capital Management Inc. acquired a new stake in BlackRock in the fourth quarter valued at $213,000. Strategic Financial Concepts LLC purchased a new stake in shares of BlackRock during the 4th quarter worth $34,700,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of BlackRock during the 4th quarter worth $270,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now directly owns 66,034 shares of the company's stock, valued at $60,256,025. This represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.98% of the company's stock.

BlackRock Trading Up 0.1%

NYSE:BLK traded up $1.40 during trading hours on Wednesday, hitting $993.30. The stock had a trading volume of 611,825 shares, compared to its average volume of 688,695. The business's 50 day moving average is $927.88 and its 200-day moving average is $972.57. The company has a market cap of $153.89 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a one year low of $752.30 and a one year high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

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

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be given a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.10%. BlackRock's dividend payout ratio is currently 50.63%.

Wall Street Analyst Weigh In

BLK has been the subject of several research analyst reports. Citigroup dropped their price objective on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company increased their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. UBS Group cut their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. lowered their price target on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley cut their price objective on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,082.46.

BlackRock 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.