Stock Yards Bank & Trust Co. Has $30.88 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Stock Yards Bank & Trust Co. lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,224 shares of the asset manager’s stock after selling 65 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in BlackRock were worth $30,882,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC grew its stake in shares of BlackRock by 25.0% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 40 shares during the last quarter. Zhang Financial LLC boosted its holdings in BlackRock by 24.0% in the first quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock valued at $736,000 after acquiring an additional 171 shares during the last quarter. California State Teachers Retirement System increased its position in BlackRock by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock worth $192,997,000 after purchasing an additional 1,647 shares during the period. Axxcess Wealth Management LLC lifted its position in BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after purchasing an additional 1,248 shares during the period. Finally, Morningstar Investment Services LLC boosted its stake in shares of BlackRock by 97.1% in the 4th quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock valued at $93,151,000 after purchasing an additional 56,357 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Trading Up 1.1 %

NYSE BLK opened at $895.18 on Tuesday. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $903.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The stock’s 50 day moving average price is $860.07 and its two-hundred day moving average price is $815.10. The stock has a market capitalization of $133.02 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 1.92 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the firm posted $9.28 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be given a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BLK shares. Morgan Stanley cut their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. TD Cowen decreased their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. UBS Group decreased their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Keefe, Bruyette & Woods lifted their price target on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Finally, Barclays upped their price objective on shares of BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $902.13.

Insider Activity at BlackRock

In other news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,042 shares of company stock valued at $79,387,117. Insiders own 0.90% 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.