CNB Bank Has $108,000 Stock Holdings in BlackRock $BLK

CNB Bank boosted its stake in shares of BlackRock (NYSE:BLK) by 9.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 103 shares of the asset manager’s stock after buying an additional 9 shares during the period. CNB Bank’s holdings in BlackRock were worth $108,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Welch Group LLC lifted its position in BlackRock by 1.2% in the 2nd quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock valued at $797,000 after acquiring an additional 9 shares in the last quarter. Stanley Laman Group Ltd. raised its stake in shares of BlackRock by 2.7% in the 2nd quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock valued at $357,000 after purchasing an additional 9 shares during the period. McLean Asset Management Corp lifted its holdings in shares of BlackRock by 3.9% in the second quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 10 shares in the last quarter. Trust Co. of Oklahoma boosted its position in shares of BlackRock by 0.5% during the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock worth $2,123,000 after buying an additional 10 shares during the period. Finally, TOWER TRUST & INVESTMENT Co grew its holdings in shares of BlackRock by 1.3% during the second quarter. TOWER TRUST & INVESTMENT Co now owns 799 shares of the asset manager’s stock worth $838,000 after buying an additional 10 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares in the company, valued at $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the sale, the director owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,138.60 on Friday. The company has a fifty day moving average price of $1,139.57 and a two-hundred day moving average price of $1,053.41. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The stock has a market cap of $176.31 billion, a P/E ratio of 29.28, a P/E/G ratio of 1.97 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The firm had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same period in the previous year, the company posted $11.46 earnings per share. The firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. As a group, equities analysts predict that BlackRock will post 47.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BLK. BMO Capital Markets upped their price target on BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Loop Capital set a $1,255.00 price objective on shares of BlackRock in a research report on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BlackRock in a research report on Wednesday, October 8th. Zacks Research cut shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Finally, Telsey Advisory Group restated an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,299.29.

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.