Lcnb Corp lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 7.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,124 shares of the asset manager’s stock after selling 88 shares during the quarter. Lcnb Corp’s holdings in BlackRock were worth $527,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Destination Wealth Management lifted its holdings in BlackRock by 1.7% during the first quarter. Destination Wealth Management now owns 1,253 shares of the asset manager’s stock valued at $535,000 after purchasing an additional 21 shares during the last quarter. Winslow Evans & Crocker Inc. lifted its holdings in BlackRock by 11.6% during the first quarter. Winslow Evans & Crocker Inc. now owns 212 shares of the asset manager’s stock valued at $94,000 after purchasing an additional 22 shares during the last quarter. Bangor Savings Bank lifted its holdings in BlackRock by 1.5% during the second quarter. Bangor Savings Bank now owns 1,483 shares of the asset manager’s stock valued at $696,000 after purchasing an additional 22 shares during the last quarter. SlateStone Wealth LLC lifted its holdings in BlackRock by 0.6% during the first quarter. SlateStone Wealth LLC now owns 4,167 shares of the asset manager’s stock valued at $1,781,000 after purchasing an additional 23 shares during the last quarter. Finally, First Manhattan Co. lifted its holdings in BlackRock by 3.5% during the first quarter. First Manhattan Co. now owns 707 shares of the asset manager’s stock valued at $302,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 81.77% of the company’s stock.

Several equities research analysts have commented on the stock. Morgan Stanley upped their price objective on shares of BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Barclays increased their price target on shares of BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. UBS Group increased their price target on shares of BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Wells Fargo & Co increased their price target on shares of BlackRock from $460.00 to $480.00 and gave the stock an “average” rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. lowered their price target on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. BlackRock has an average rating of “Buy” and an average target price of $499.03.

Shares of BlackRock stock traded down $2.63 on Wednesday, reaching $413.81. The stock had a trading volume of 191,288 shares, compared to its average volume of 561,012. BlackRock, Inc. has a 1 year low of $360.79 and a 1 year high of $492.00. The stock has a market capitalization of $65.75 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.58 and a beta of 1.51. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.83. The stock’s 50 day moving average price is $464.04.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, July 19th. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.11). BlackRock had a return on equity of 13.23% and a net margin of 30.25%. The firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the company posted $6.66 earnings per share. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, research analysts forecast that BlackRock, Inc. will post 27.62 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Wednesday, September 4th. BlackRock’s dividend payout ratio is currently 49.02%.

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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