Cadence Bank Sells 22 Shares of BlackRock, Inc. (NYSE:BLK)

Cadence Bank lessened its stake in BlackRock, Inc. (NYSE:BLK) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 451 shares of the asset manager’s stock after selling 22 shares during the quarter. Cadence Bank’s holdings in BlackRock were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Emerald Advisors LLC increased its holdings in BlackRock by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock worth $851,000 after buying an additional 26 shares in the last quarter. Carolinas Wealth Consulting LLC increased its position in shares of BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 40 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its position in shares of BlackRock by 8.5% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after purchasing an additional 60 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of BlackRock during the 4th quarter valued at about $439,000. Finally, Patten & Patten Inc. TN purchased a new stake in shares of BlackRock during the 4th quarter valued at about $205,000. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BLK shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of BlackRock from $924.00 to $912.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. TD Cowen reduced their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Evercore ISI increased their target price on shares of BlackRock from $910.00 to $920.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $872.29.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 27,000 shares of BlackRock 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 directly owns 6,480 shares in the company, valued at $5,407,041.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Laurence Fink sold 30,978 shares of the business’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 directly owns 383,168 shares in the company, valued at $309,327,694.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The disclosure for this sale can be found here. Insiders sold 66,978 shares of company stock valued at $54,692,570 over the last quarter. 0.90% of the stock is currently owned by company insiders.

BlackRock Stock Up 2.4 %

Shares of BlackRock stock traded up $19.66 during trading on Friday, hitting $856.20. 555,760 shares of the stock traded hands, compared to its average volume of 606,970. The stock’s fifty day simple moving average is $794.99 and its 200 day simple moving average is $795.23. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $857.65. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The firm has a market cap of $127.23 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 1.84 and a beta of 1.32.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share 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 the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $9.28 earnings per share. On average, equities analysts predict that BlackRock, Inc. will post 41.23 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. Investors of record on Monday, September 9th will be issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

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.