UMB Bank n.a. Sells 307 Shares of BlackRock $BLK

Key Points

• UMB Bank n.a. has a stock position in BlackRock valued at approximately $37.49 million, after reducing its holdings by 0.9% in the second quarter.
• BlackRock recently reported EPS of $12.05 for the quarter, exceeding consensus estimates, and had revenue growth of 12.9% year-over-year.
• A quarterly dividend of $5.21 will be paid to shareholders in September, representing an annualized dividend yield of 1.8%.

UMB Bank n.a. lessened its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,728 shares of the asset manager's stock after selling 307 shares during the quarter. UMB Bank n.a.'s holdings in BlackRock were worth $37,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Wright Investors Service Inc. lifted its holdings in BlackRock by 1.4% during the second quarter. Wright Investors Service Inc. now owns 1,946 shares of the asset manager's stock valued at $2,042,000 after purchasing an additional 26 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of BlackRock in the second quarter valued at about $32,358,000. IFM Investors Pty Ltd lifted its position in shares of BlackRock by 5.3% in the second quarter. IFM Investors Pty Ltd now owns 27,924 shares of the asset manager's stock valued at $29,299,000 after acquiring an additional 1,406 shares in the last quarter. Piscataqua Savings Bank lifted its holdings in BlackRock by 0.9% in the 2nd quarter. Piscataqua Savings Bank now owns 1,853 shares of the asset manager's stock worth $1,944,000 after purchasing an additional 17 shares in the last quarter. Finally, Charter Oak Capital Management LLC lifted its holdings in BlackRock by 14.1% in the 2nd quarter. Charter Oak Capital Management LLC now owns 324 shares of the asset manager's stock worth $340,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on BLK shares. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,115.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. UBS Group reaffirmed a "neutral" rating and issued a $980.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Finally, Zacks Research lowered shares of BlackRock from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,154.07.

BlackRock Stock Performance

NYSE BLK traded down $6.88 during trading on Tuesday, hitting $1,129.33. The company's stock had a trading volume of 209,514 shares, compared to its average volume of 727,091. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,171.89. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The firm has a market cap of $174.88 billion, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 2.19 and a beta of 1.45. The firm has a 50 day moving average price of $1,120.31 and a 200 day moving average price of $1,014.87.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $10.36 EPS. Equities research analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is 50.39%.

Insider Activity

In related news, CEO Laurence Fink sold 14,828 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the transaction, the chief executive officer directly owned 263,751 shares of the company's stock, valued at $296,002,472.28. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the firm'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 value of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares in the company, valued at $3,936,571.86. This represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by insiders.

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.