Teacher Retirement System of Texas lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 6.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,680 shares of the asset manager’s stock after selling 773 shares during the quarter. Teacher Retirement System of Texas’ holdings in BlackRock were worth $5,222,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Salem Investment Counselors Inc. boosted its stake in BlackRock by 14.3% during the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after buying an additional 30 shares during the period. Enterprise Financial Services Corp boosted its stake in BlackRock by 52.5% during the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after buying an additional 85 shares during the period. Penserra Capital Management LLC purchased a new position in BlackRock during the second quarter worth about $104,000. Proficio Capital Partners LLC boosted its stake in BlackRock by 48.9% during the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares during the period. Finally, Harfst & Associates Inc. boosted its stake in shares of BlackRock by 17.3% in the second quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 39 shares during the period. 82.42% of the stock is owned by institutional investors.
In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director J. Richard Kushel sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total transaction of $48,158.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,875 shares of company stock worth $2,101,166. 1.86% of the stock is owned by corporate insiders.
BLK has been the subject of several recent research reports. BidaskClub lowered shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Barclays PLC raised their price objective on shares of BlackRock from $475.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, October 10th. J P Morgan Chase & Co raised their price objective on shares of BlackRock to $558.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Wells Fargo & Company reissued a “market perform” rating and issued a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock has a consensus rating of “Buy” and a consensus target price of $489.08.
Shares of BlackRock, Inc. (NYSE:BLK) opened at $473.99 on Friday. The firm has a market cap of $76,595.36, a P/E ratio of 21.99, a P/E/G ratio of 1.64 and a beta of 1.79. BlackRock, Inc. has a 1-year low of $365.83 and a 1-year high of $489.79. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.09.
BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.49 by $0.43. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.14 earnings per share. equities analysts forecast that BlackRock, Inc. will post 22.29 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Monday, December 4th will be issued a $2.50 dividend. The ex-dividend date is Friday, December 1st. This represents a $10.00 annualized dividend and a yield of 2.11%. BlackRock’s dividend payout ratio (DPR) is 46.82%.
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BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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