Park National Corp OH Has $30.75 Million Position in BlackRock, Inc. (NYSE:BLK)

Park National Corp OH grew its position in shares of BlackRock, Inc. (NYSE:BLK) by 8.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,050 shares of the asset manager’s stock after acquiring an additional 3,108 shares during the quarter. BlackRock accounts for approximately 1.1% of Park National Corp OH’s portfolio, making the stock its 26th largest holding. Park National Corp OH’s holdings in BlackRock were worth $30,745,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners purchased a new position in BlackRock during the 4th quarter worth $27,000. Redmont Wealth Advisors LLC purchased a new position in shares of BlackRock in the 1st quarter worth about $27,000. Private Wealth Management Group LLC purchased a new position in shares of BlackRock in the 4th quarter worth about $28,000. Pineridge Advisors LLC purchased a new position in shares of BlackRock in the 4th quarter worth about $28,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of BlackRock in the 4th quarter worth about $32,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Price Performance

Shares of BLK stock traded down $18.20 during trading on Monday, hitting $838.01. The company had a trading volume of 510,331 shares, compared to its average volume of 606,878. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The stock’s 50-day moving average is $810.38 and its two-hundred day moving average is $799.91. The stock has a market capitalization of $124.53 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.32. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $885.10.

BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.96 by $0.40. The business had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. BlackRock’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.28 earnings per share. As a group, analysts predict that BlackRock, Inc. will post 41.23 EPS for the current fiscal year.

BlackRock Dividend Announcement

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. This represents a $20.40 annualized dividend and a yield of 2.43%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the transaction, the chief executive officer now owns 383,168 shares in the company, valued at $309,327,694.72. The sale 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 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 completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The disclosure for this sale can be found here. Insiders sold a total of 88,959 shares of company stock valued at $73,660,507 over the last quarter. 0.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BLK shares. TD Cowen cut their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Morgan Stanley lowered their price objective on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft lowered their price objective on BlackRock from $924.00 to $912.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods upped their price target on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Finally, Argus upped their price target on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $872.29.

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.