Trust Co. of Oklahoma Sells 22 Shares of BlackRock, Inc. (NYSE:BLK)

Trust Co. of Oklahoma reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,058 shares of the asset manager’s stock after selling 22 shares during the quarter. Trust Co. of Oklahoma’s holdings in BlackRock were worth $1,620,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. Capital Research Global Investors boosted its stake in BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares during the last quarter. Capital World Investors lifted its holdings in shares of BlackRock by 57.3% in the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after purchasing an additional 1,279,952 shares in the last quarter. Capital International Investors grew its holdings in BlackRock by 2.4% during the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after buying an additional 58,681 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of BlackRock in the 4th quarter worth $1,812,920,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

NYSE:BLK traded up $2.15 during trading hours on Thursday, hitting $865.24. The stock had a trading volume of 327,350 shares, compared to its average volume of 596,739. The firm has a market capitalization of $128.57 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 1.92 and a beta of 1.32. BlackRock, Inc. has a one year low of $596.18 and a one year high of $885.10. The company has a 50 day simple moving average of $824.31 and a two-hundred day simple moving average of $804.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the previous year, the business earned $9.28 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Research analysts forecast that BlackRock, Inc. will post 41.23 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. Shareholders of record on Monday, September 9th will be given a dividend of $5.10 per share. The ex-dividend date is Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.36%. BlackRock’s payout ratio is presently 51.84%.

Insiders Place Their Bets

In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $875.03, for a total value of $10,500,360.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,670,194.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $875.03, for a total value of $10,500,360.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,670,194.40. The disclosure for this sale can be found here. Insiders sold a total of 81,042 shares of company stock valued at $68,587,117 in the last quarter. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the topic of several analyst reports. Argus boosted their price target on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. UBS Group cut their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods increased 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. Morgan Stanley reduced their price objective on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $874.07.

BlackRock 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.