Park National Corp OH Invests $29.94 Million in BlackRock, Inc. (NYSE:BLK)

Park National Corp OH bought a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 31,631 shares of the asset manager's stock, valued at approximately $29,938,000. BlackRock comprises about 1.1% of Park National Corp OH's investment portfolio, making the stock its 29th biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in BLK. Brighton Jones LLC increased its position in BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after purchasing an additional 296 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of BlackRock by 2.7% during the 4th quarter. Blue Trust Inc. now owns 923 shares of the asset manager's stock worth $877,000 after buying an additional 24 shares during the last quarter. KBC Group NV acquired a new stake in shares of BlackRock during the 4th quarter worth $14,473,000. Pacer Advisors Inc. increased its holdings in shares of BlackRock by 11.9% during the 4th quarter. Pacer Advisors Inc. now owns 11,532 shares of the asset manager's stock worth $11,822,000 after buying an additional 1,222 shares during the last quarter. Finally, BSW Wealth Partners increased its stake in BlackRock by 6.0% during the fourth quarter. BSW Wealth Partners now owns 231 shares of the asset manager's stock worth $237,000 after acquiring an additional 13 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BLK. UBS Group dropped their price target on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. dropped their target price on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Citigroup dropped their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company dropped their price objective on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, TD Cowen lowered their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,077.08.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 2,000 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 66,034 shares in the company, valued at approximately $56,261,628.34. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.98% of the company's stock.

BlackRock Stock Up 0.2%

BLK traded up $1.63 during trading hours on Friday, reaching $977.95. 1,060,907 shares of the stock traded hands, compared to its average volume of 694,622. The firm's fifty day simple moving average is $922.34 and its two-hundred day simple moving average is $975.46. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The company has a market cap of $151.51 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating 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 last year, the firm earned $9.81 earnings per share. The company's revenue was up 11.6% on a year-over-year basis. As a group, analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock's payout ratio is currently 50.63%.

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.