Teachers Retirement System of The State of Kentucky Lowers Holdings in BlackRock, Inc. (NYSE:BLK)

Teachers Retirement System of The State of Kentucky trimmed its position in BlackRock, Inc. (NYSE:BLKGet Rating) by 54.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,101 shares of the asset manager’s stock after selling 12,078 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in BlackRock were worth $7,719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nvwm LLC grew its position in BlackRock by 26.4% in the 1st quarter. Nvwm LLC now owns 115 shares of the asset manager’s stock valued at $88,000 after buying an additional 24 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of BlackRock by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 384,792 shares of the asset manager’s stock worth $294,074,000 after purchasing an additional 5,783 shares in the last quarter. Wealth Alliance boosted its position in shares of BlackRock by 2.7% during the 1st quarter. Wealth Alliance now owns 768 shares of the asset manager’s stock worth $587,000 after purchasing an additional 20 shares in the last quarter. Phocas Financial Corp. boosted its position in shares of BlackRock by 5.4% during the 1st quarter. Phocas Financial Corp. now owns 685 shares of the asset manager’s stock worth $523,000 after purchasing an additional 35 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of BlackRock by 18.2% during the 1st quarter. Parallel Advisors LLC now owns 2,026 shares of the asset manager’s stock worth $1,575,000 after purchasing an additional 312 shares in the last quarter. 76.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at BlackRock

In related news, Director Mark Mccombe sold 1,360 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $739.79, for a total value of $1,006,114.40. Following the completion of the sale, the director now directly owns 21,106 shares in the company, valued at $15,614,007.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Mark Mccombe sold 1,360 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $739.79, for a total value of $1,006,114.40. Following the completion of the sale, the director now directly owns 21,106 shares in the company, valued at $15,614,007.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 44,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $684.61, for a total transaction of $30,465,145.00. Following the completion of the sale, the chief executive officer now owns 563,771 shares of the company’s stock, valued at $385,963,264.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,448 shares of company stock worth $55,259,953. 1.06% of the stock is owned by company insiders.

BlackRock Stock Performance

Shares of NYSE BLK opened at $626.74 on Friday. The company has a market cap of $94.49 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 3.31 and a beta of 1.23. BlackRock, Inc. has a 12 month low of $575.60 and a 12 month high of $973.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.64 and a quick ratio of 3.64. The company has a 50-day simple moving average of $670.71 and a 200-day simple moving average of $668.48.

BlackRock (NYSE:BLKGet Rating) last issued its quarterly earnings results on Friday, July 15th. The asset manager reported $7.36 EPS for the quarter, missing analysts’ consensus estimates of $7.94 by ($0.58). The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.53 billion. BlackRock had a return on equity of 15.74% and a net margin of 30.12%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $10.03 earnings per share. On average, equities analysts anticipate that BlackRock, Inc. will post 33.92 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th will be issued a $4.88 dividend. This is an increase from BlackRock’s previous dividend of $2.29. The ex-dividend date is Tuesday, September 6th. BlackRock’s payout ratio is presently 51.46%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BLK shares. Morgan Stanley decreased their target price on shares of BlackRock from $801.00 to $773.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. JPMorgan Chase & Co. decreased their target price on shares of BlackRock from $902.00 to $729.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th. Keefe, Bruyette & Woods decreased their target price on shares of BlackRock from $719.00 to $675.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 28th. StockNews.com upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Tuesday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $720.00 to $860.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $804.46.

BlackRock Profile

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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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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