Sun Sep 15 16:49:12 UTC 2024: ## BlackRock Sees Mixed Investor Sentiment: 1ST Source Bank Sells Shares, While Others Increase Holdings
**New York, NY** – BlackRock, Inc. (NYSE:BLK), the world’s largest asset manager, saw mixed signals from investors in the second quarter of 2024. While 1ST Source Bank reduced its position in the company by 2.7%, several other institutional investors, including Vanguard Group, Capital Research Global Investors, and Capital World Investors, increased their stakes.
1ST Source Bank sold 29 shares of BlackRock during the quarter, decreasing its holdings to 1,059 shares worth $834,000. However, Vanguard Group lifted its stake by 2.3% in the first quarter, owning 13,182,262 shares worth $10,990,052,000. Capital Research Global Investors increased its holdings by 11.1% in the same period, owning 4,354,236 shares valued at $3,630,127,000. Capital World Investors also boosted its holdings by 57.3% during the fourth quarter, bringing its total to 3,514,999 shares valued at $2,853,517,000.
In addition to institutional investor activity, BlackRock saw several insider transactions. Director Mark Wiedman sold 12,000 shares on August 30th, while CEO Laurence Fink sold 29,450 shares on August 6th. Over the past 90 days, insiders have sold a total of 93,042 shares, worth $79,387,117.
BlackRock’s most recent earnings report, released on July 15th, showed strong performance. The company beat analyst estimates with $10.36 earnings per share (EPS) and revenue of $4.81 billion. This represents a 7.7% year-over-year increase in revenue. The company also announced a quarterly dividend of $5.10 per share, payable on September 23rd.
Several research firms remain optimistic about BlackRock’s future. Barclays, Citigroup, Wells Fargo, Evercore ISI, and TD Cowen have issued “buy” or “overweight” ratings on the stock.
Despite some investor uncertainty, BlackRock continues to demonstrate strong financial performance and remains a significant player in the asset management industry.
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