STAR Financial Bank Sells 165 Shares of BlackRock, Inc. (NYSE:BLK)

11 Sep 2024, 21:18 by Tristan Rich · The Markets Daily

STAR Financial Bank decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 8.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,759 shares of the asset manager’s stock after selling 165 shares during the period. BlackRock comprises approximately 1.1% of STAR Financial Bank’s holdings, making the stock its 23rd largest position. STAR Financial Bank’s holdings in BlackRock were worth $1,385,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BLK. Gilbert & Cook Inc. boosted its holdings in BlackRock by 4.8% in the 4th quarter. Gilbert & Cook Inc. now owns 1,366 shares of the asset manager’s stock worth $1,109,000 after buying an additional 62 shares during the period. Gryphon Financial Partners LLC bought a new position in shares of BlackRock in the fourth quarter worth about $354,000. One Capital Management LLC bought a new stake in BlackRock during the 4th quarter valued at approximately $205,000. Avantax Advisory Services Inc. lifted its holdings in BlackRock by 2.0% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,037 shares of the asset manager’s stock worth $4,089,000 after purchasing an additional 97 shares in the last quarter. Finally, First United Bank & Trust bought a new position in BlackRock in the 4th quarter worth approximately $75,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BLK. UBS Group decreased their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Citigroup boosted their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Morgan Stanley decreased their price objective on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Finally, Argus raised their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $883.47.

Check Out Our Latest Research Report on BLK

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by insiders.

BlackRock Price Performance

BLK opened at $883.79 on Wednesday. The company has a market capitalization of $131.33 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 1.89 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $903.46. The business’s fifty day simple moving average is $852.38 and its 200-day simple moving average is $812.86.

BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $9.28 earnings per share. On average, equities research analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.31%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

About BlackRock

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