New York State Teachers Retirement System cut its position in BlackRock, Inc. (NYSE:BLK – Get Rating) by 0.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 160,776 shares of the asset manager’s stock after selling 655 shares during the quarter. New York State Teachers Retirement System’s holdings in BlackRock were worth $147,200,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. lifted its position in shares of BlackRock by 1.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 10,052 shares of the asset manager’s stock worth $8,430,000 after purchasing an additional 186 shares in the last quarter. Spearhead Capital Advisors LLC lifted its position in shares of BlackRock by 11.2% during the third quarter. Spearhead Capital Advisors LLC now owns 11,817 shares of the asset manager’s stock worth $9,910,000 after purchasing an additional 1,194 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of BlackRock by 2.8% during the third quarter. HighTower Advisors LLC now owns 91,740 shares of the asset manager’s stock worth $77,008,000 after purchasing an additional 2,531 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of BlackRock by 4.4% during the third quarter. Commonwealth Equity Services LLC now owns 33,529 shares of the asset manager’s stock worth $28,120,000 after purchasing an additional 1,399 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. lifted its position in shares of BlackRock by 5.4% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 15,040 shares of the asset manager’s stock worth $12,613,000 after purchasing an additional 768 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.
BLK has been the topic of a number of research reports. BMO Capital Markets upped their target price on shares of BlackRock from $756.00 to $795.00 in a research report on Tuesday, January 18th. Bank of America assumed coverage on shares of BlackRock in a report on Thursday, December 16th. They issued a “buy” rating on the stock. Morgan Stanley cut their price objective on shares of BlackRock from $1,051.00 to $1,043.00 and set an “overweight” rating on the stock in a report on Tuesday, January 18th. The Goldman Sachs Group cut their price objective on shares of BlackRock from $1,000.00 to $800.00 and set a “buy” rating on the stock in a report on Monday, March 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of BlackRock from $1,125.00 to $1,024.00 and set a “buy” rating on the stock in a report on Friday, February 18th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $939.50.
Shares of BLK stock traded up $1.82 during trading hours on Thursday, hitting $738.28. 462,628 shares of the company were exchanged, compared to its average volume of 878,115. The business has a 50 day moving average of $764.28 and a two-hundred day moving average of $856.53. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.38. BlackRock, Inc. has a 52 week low of $660.15 and a 52 week high of $973.16. The company has a market capitalization of $112.25 billion, a PE ratio of 19.32, a PEG ratio of 1.61 and a beta of 1.22.
BlackRock (NYSE:BLK – Get Rating) last issued its quarterly earnings data on Friday, January 14th. The asset manager reported $10.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $10.16 by $0.26. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.15 billion. BlackRock had a net margin of 30.46% and a return on equity of 16.54%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.18 earnings per share. On average, research analysts forecast that BlackRock, Inc. will post 41.6 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 23rd. Investors of record on Monday, March 7th were given a $4.88 dividend. The ex-dividend date of this dividend was Friday, March 4th. This represents a $19.52 dividend on an annualized basis and a yield of 2.64%. This is an increase from BlackRock’s previous quarterly dividend of $4.13. BlackRock’s dividend payout ratio (DPR) is 51.09%.
In related news, Director Mark Mccombe sold 1,400 shares of the firm’s stock in a transaction on Monday, February 7th. The shares were sold at an average price of $819.32, for a total value of $1,147,048.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.16% of the stock is currently owned by company insiders.
About BlackRock (Get Rating)
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.
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