Country Club Bank Sells 11 Shares of BlackRock $BLK

Country Club Bank decreased its holdings in shares of BlackRock (NYSE:BLK) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,965 shares of the asset manager’s stock after selling 11 shares during the period. Country Club Bank’s holdings in BlackRock were worth $3,107,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Fairway Wealth LLC raised its holdings in shares of BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC raised its stake in shares of BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 15 shares during the last quarter. Garde Capital Inc. raised its stake in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after purchasing an additional 18 shares during the last quarter. Cheviot Value Management LLC bought a new position in shares of BlackRock in the first quarter valued at approximately $30,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of BlackRock during the first quarter valued at approximately $31,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BLK shares. Keefe, Bruyette & Woods dropped their price objective on BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 16th. Bank of America boosted their price target on shares of BlackRock from $1,224.00 to $1,396.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Barclays increased their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. BMO Capital Markets initiated coverage on BlackRock in a report on Friday. They issued an “outperform” rating and a $1,280.00 target price for the company. Finally, Citigroup lifted their price target on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average target price of $1,222.87.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the transaction, the director owned 61,369 shares in the company, valued at $68,763,964.50. This trade represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rachel Lord sold 18,036 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the sale, the director owned 19,205 shares in the company, valued at $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 over the last ninety days. Company insiders own 1.98% of the company’s stock.

BlackRock Price Performance

BlackRock stock opened at $1,179.86 on Tuesday. The business’s 50 day simple moving average is $1,130.91 and its 200 day simple moving average is $1,030.30. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,184.13. The company has a market cap of $182.70 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 2.18 and a beta of 1.45. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $10.36 earnings per share. Sell-side analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were issued a dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.8%. BlackRock’s dividend payout ratio is 50.39%.

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.