BlackRock, Inc. (NYSE:BLK) Stake Boosted by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in BlackRock, Inc. (NYSE:BLK – Get Rating) by 50.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,036 shares of the asset manager’s stock after purchasing an additional 20,468 shares during the quarter. Teacher Retirement System of Texas’ holdings in BlackRock were worth $46,642,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Steward Financial Group LLC purchased a new position in BlackRock during the 4th quarter valued at about $27,000. Western Pacific Wealth Management LP purchased a new position in BlackRock during the 4th quarter valued at about $27,000. Sierra Capital LLC purchased a new position in BlackRock during the 4th quarter valued at about $29,000. Confluence Wealth Services Inc. purchased a new position in BlackRock during the 4th quarter valued at about $35,000. Finally, Covestor Ltd bought a new stake in shares of BlackRock in the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 93.81% of the company’s stock.

BlackRock Stock Down 0.0 %

Shares of BLK stock opened at $695.93 on Friday. BlackRock, Inc. has a 12 month low of $575.60 and a 12 month high of $973.16. The firm has a market cap of $105.43 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 3.65 and a beta of 1.25. The stock has a 50 day moving average of $633.39 and a 200-day moving average of $687.70. The company has a quick ratio of 4.33, a current ratio of 4.33 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK – Get Rating) last issued its 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 during the quarter, compared to analyst estimates of $4.53 billion. BlackRock had a net margin of 30.12% and a return on equity of 15.72%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.03 earnings per share. On average, equities analysts predict that BlackRock, Inc. will post 33.91 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Wednesday, September 7th will be paid a $4.88 dividend. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $19.52 dividend on an annualized basis and a dividend yield of 2.80%. BlackRock’s payout ratio is 51.46%.

Insider Activity at BlackRock

In related news, President Robert Kapito sold 37,588 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $632.88, for a total value of $23,788,693.44. Following the completion of the transaction, the president now directly owns 226,680 shares in the company, valued at $143,461,238.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Laurence Fink sold 44,500 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total transaction of $30,465,145.00. Following the sale, the chief executive officer now owns 563,771 shares in the company, valued at $385,963,264.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Robert Kapito sold 37,588 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the transaction, the president now directly owns 226,680 shares in the company, valued at approximately $143,461,238.40. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. BMO Capital Markets lowered their price target on BlackRock from $755.00 to $734.00 and set a “market perform” rating for the company in a research note on Thursday, April 14th. Morgan Stanley lowered their price target on BlackRock from $801.00 to $773.00 and set an “overweight” rating for the company in a research note on Wednesday, July 27th. JPMorgan Chase & Co. lowered their price target on BlackRock from $902.00 to $729.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. Deutsche Bank Aktiengesellschaft lowered their price target on BlackRock from $747.00 to $725.00 in a research note on Wednesday, July 13th. Finally, Jefferies Financial Group initiated coverage on BlackRock in a report on Wednesday, April 13th. They issued a “buy” rating and a $873.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $794.08.

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.