BlackRock, Inc. (NYSE:BLK) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. cut its holdings in BlackRock, Inc. (NYSE:BLK - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,325 shares of the asset manager's stock after selling 512 shares during the quarter. BlackRock accounts for approximately 1.2% of Stock Yards Bank & Trust Co.'s investment portfolio, making the stock its 27th largest position. Stock Yards Bank & Trust Co.'s holdings in BlackRock were worth $34,381,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in BlackRock by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock valued at $13,712,493,000 after acquiring an additional 68,405 shares during the last quarter. Capital World Investors raised its position in BlackRock by 2.3% in the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock worth $4,200,450,000 after purchasing an additional 93,844 shares during the period. GAMMA Investing LLC lifted its stake in BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after purchasing an additional 3,496,740 shares during the last quarter. Geode Capital Management LLC lifted its stake in BlackRock by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock worth $3,072,787,000 after purchasing an additional 190,188 shares during the last quarter. Finally, FMR LLC grew its stake in shares of BlackRock by 1.1% during the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock valued at $2,450,475,000 after buying an additional 26,485 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Performance

Shares of BLK traded down $13.20 during trading hours on Tuesday, reaching $968.90. 600,452 shares of the company traded hands, compared to its average volume of 689,435. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The business has a fifty day moving average price of $941.17 and a 200-day moving average price of $971.08. BlackRock, Inc. has a 12-month low of $766.05 and a 12-month high of $1,084.22. The stock has a market capitalization of $150.11 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.90 and a beta of 1.41.

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

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock's payout ratio is currently 50.63%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Argus boosted their price objective on BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Wells Fargo & Company upped their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. 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. Finally, Barclays increased their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,096.31.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 66,034 shares in the company, valued at approximately $60,256,025. This represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.98% of the company's stock.

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.