Huntington National Bank Has $46.61 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Huntington National Bank increased its holdings in BlackRock, Inc. (NYSE:BLK) by 1.2% in the fourth quarter, HoldingsChannel reports. The firm owned 45,467 shares of the asset manager’s stock after purchasing an additional 527 shares during the period. Huntington National Bank’s holdings in BlackRock were worth $46,607,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. FSA Wealth Management LLC acquired a new position in shares of BlackRock during the 3rd quarter valued at about $26,000. IAG Wealth Partners LLC acquired a new position in BlackRock during the fourth quarter valued at approximately $26,000. Collier Financial bought a new position in shares of BlackRock in the fourth quarter valued at approximately $32,000. Compass Planning Associates Inc acquired a new stake in shares of BlackRock in the fourth quarter worth $33,000. Finally, Atwood & Palmer Inc. bought a new stake in shares of BlackRock during the 4th quarter worth $36,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLK has been the topic of several recent analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. UBS Group lifted their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Wells Fargo & Company raised their target price on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup upped their price target on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Finally, Barclays lowered their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

BlackRock Trading Down 0.2 %

Shares of BLK stock opened at $944.75 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The firm has a fifty day moving average of $976.19 and a 200-day moving average of $993.09. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The stock has a market cap of $146.68 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the company earned $9.66 earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, equities research analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were paid a dividend of $5.21 per share. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a yield of 2.21%. The ex-dividend date was Friday, March 7th. BlackRock’s dividend payout ratio is currently 49.62%.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the completion of the transaction, the director now directly owns 68,433 shares of the company’s stock, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is currently owned by company insiders.

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.