Park National Corp OH Acquires 1,219 Shares of BlackRock $BLK

Park National Corp OH grew its holdings in BlackRock (NYSE:BLK) by 4.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 28,488 shares of the asset manager’s stock after acquiring an additional 1,219 shares during the quarter. Park National Corp OH’s holdings in BlackRock were worth $28,887,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. RMG Wealth Management LLC acquired a new position in shares of BlackRock in the 1st quarter valued at $25,000. Addison Advisors LLC acquired a new position in BlackRock in the second quarter valued at $25,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of BlackRock during the second quarter worth about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of BlackRock during the second quarter worth about $30,000. Finally, Wilkerson Advisory Group LLC lifted its holdings in shares of BlackRock by 100.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 34 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

BLK traded up $4.80 during trading on Monday, hitting $1,064.43. The stock had a trading volume of 181,607 shares, compared to its average volume of 743,219. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. The firm has a market capitalization of $164.85 billion, a P/E ratio of 25.43, a PEG ratio of 1.17 and a beta of 1.41. The company’s 50-day moving average price is $1,111.19 and its 200 day moving average price is $1,055.22. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, topping the consensus estimate of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter last year, the business earned $12.05 EPS. The business’s revenue was up 30.6% on a year-over-year basis. On average, equities research analysts forecast that BlackRock will post 55.9 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were issued a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 8th. BlackRock’s payout ratio is currently 54.78%.

Analyst Ratings Changes

Several research analysts have commented on BLK shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,258.00 price target on shares of BlackRock in a research report on Thursday, July 16th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,389.00 target price on shares of BlackRock in a report on Thursday, July 16th. JPMorgan Chase & Co. upgraded shares of BlackRock from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $1,165.00 to $1,364.00 in a research note on Thursday, July 16th. Keefe, Bruyette & Woods cut shares of BlackRock from a “moderate buy” rating to a “hold” rating in a report on Friday, August 7th. Finally, Wells Fargo & Company began coverage on BlackRock in a report on Friday. They set an “overweight” rating and a $1,245.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $1,304.35.

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company serving individual investors, institutions, governments and financial professionals. The company provides investment management, risk management and advisory services across a broad range of asset classes, including equities, fixed income, multi-asset strategies, alternatives and cash management.

BlackRock offers investment products through mutual funds, exchange-traded funds and other vehicles. Its iShares brand is one of the company’s principal platforms for exchange-traded funds, providing access to domestic and international markets, industry sectors, bonds, commodities and specialized investment strategies.

The company also provides technology and analytical solutions through its Aladdin platform, which is used by asset managers, institutional investors and other financial organizations for portfolio management, risk analysis, trading and operational support.