Teachers Retirement System of The State of Kentucky reduced its position in BlackRock, Inc. (NYSE:BLK) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,450 shares of the asset manager’s stock after selling 1,900 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in BlackRock were worth $33,109,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in BlackRock by 4.4% during the 4th quarter. BlackRock Inc. now owns 7,255,797 shares of the asset manager’s stock worth $3,727,377,000 after acquiring an additional 307,213 shares in the last quarter. Fred Alger Management Inc. lifted its position in BlackRock by 2,347.6% during the 4th quarter. Fred Alger Management Inc. now owns 185,965 shares of the asset manager’s stock worth $95,532,000 after acquiring an additional 178,367 shares in the last quarter. Stifel Financial Corp lifted its position in BlackRock by 2,450.2% during the 3rd quarter. Stifel Financial Corp now owns 181,678 shares of the asset manager’s stock worth $81,105,000 after acquiring an additional 174,554 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in BlackRock by 31.6% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 442,328 shares of the asset manager’s stock worth $227,228,000 after acquiring an additional 106,315 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in BlackRock during the 4th quarter worth approximately $53,310,000. 84.65% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Jeff A. Smith sold 425 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $565.96, for a total value of $240,533.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ryan Stork sold 7,136 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $543.50, for a total value of $3,878,416.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,961 shares of company stock worth $11,375,444 over the last 90 days. 1.86% of the stock is owned by company insiders.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.94 by $0.30. BlackRock had a return on equity of 12.31% and a net margin of 39.79%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the business earned $5.14 EPS. BlackRock’s revenue for the quarter was up 20.0% compared to the same quarter last year. equities analysts anticipate that BlackRock, Inc. will post 28.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be issued a dividend of $2.88 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This is an increase from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 annualized dividend and a yield of 2.00%. BlackRock’s payout ratio is currently 38.02%.
Several equities analysts recently commented on the company. Deutsche Bank reduced their price target on BlackRock to $623.00 and set a “buy” rating on the stock in a research report on Tuesday, March 6th. Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Citigroup lowered BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price target on the stock. in a research report on Thursday, January 25th. Wells Fargo & Co reissued a “market perform” rating and set a $555.00 price target (up from $535.00) on shares of BlackRock in a research report on Tuesday, January 16th. Finally, Argus reissued a “buy” rating and set a $620.00 price target (up from $520.00) on shares of BlackRock in a research report on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. BlackRock has an average rating of “Buy” and an average price target of $560.85.
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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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