Country Club Bank Lowers Stock Holdings in BlackRock $BLK

Country Club Bank reduced its position in BlackRock (NYSE:BLK) by 0.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,965 shares of the asset manager’s stock after selling 11 shares during the quarter. Country Club Bank’s holdings in BlackRock were worth $3,107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Securian Asset Management Inc. purchased a new position in shares of BlackRock during the 1st quarter valued at $7,331,000. Prudent Man Advisors LLC bought a new stake in BlackRock during the first quarter valued at $2,018,000. Allianz SE grew its position in BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock worth $10,435,000 after buying an additional 277 shares in the last quarter. Arizona State Retirement System bought a new position in BlackRock in the 1st quarter worth about $40,868,000. Finally, Community Financial Services Group LLC raised its holdings in shares of BlackRock by 17.2% in the 1st quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager’s stock valued at $5,397,000 after acquiring an additional 836 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In related news, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares in the company, valued at $68,763,964.50. This represents a 21.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Fabrizio Freda sold 4,434 shares of the firm’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the sale, the director directly owned 3,506 shares in the company, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock valued at $74,694,573 in the last three months. Corporate insiders own 1.98% of the company’s stock.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,179.86 on Tuesday. 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 stock has a market cap of $182.70 billion, a PE ratio of 28.53, a PEG ratio of 2.18 and a beta of 1.45. The company’s fifty day moving average is $1,130.91 and its 200 day moving average is $1,030.30. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,184.13.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.36 earnings per share. Research analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were issued a $5.21 dividend. The ex-dividend date was Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock’s dividend payout ratio (DPR) is currently 50.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BLK. UBS Group reissued a “neutral” rating and set a $980.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Jefferies Financial Group boosted their price target on shares of BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Bank of America raised their price objective on shares of BlackRock from $1,224.00 to $1,396.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. Finally, Citigroup increased their target price on BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,222.87.

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.