Retirement Systems of Alabama lowered its stake in BlackRock Inc. (NYSE:BLK) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 64,131 shares of the company’s stock after selling 361 shares during the period. Retirement Systems of Alabama’s holdings in BlackRock were worth $21,967,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. Sarasin & Partners LLP bought a new position in BlackRock during the first quarter valued at approximately $110,887,000. TIAA CREF Investment Management LLC boosted its position in BlackRock by 36.4% in the first quarter. TIAA CREF Investment Management LLC now owns 456,199 shares of the company’s stock valued at $155,368,000 after buying an additional 121,777 shares during the last quarter. Virginia Retirement System bought a new position in BlackRock during the first quarter valued at approximately $20,241,000. Bank of Montreal Can bought a new position in BlackRock during the second quarter valued at approximately $19,065,000. Finally, ING Groep NV boosted its position in BlackRock by 3,315.9% in the first quarter. ING Groep NV now owns 53,118 shares of the company’s stock valued at $18,079,000 after buying an additional 51,563 shares during the last quarter. 81.58% of the stock is owned by hedge funds and other institutional investors.
BlackRock Inc. (NYSE:BLK) traded up 0.30% during mid-day trading on Tuesday, reaching $361.79. The company’s stock had a trading volume of 496,246 shares. The firm has a market capitalization of $59.50 billion, a PE ratio of 19.28 and a beta of 1.45. The stock’s 50-day moving average is $368.80 and its 200-day moving average is $355.80. BlackRock Inc. has a 12 month low of $280.55 and a 12 month high of $376.65.
BlackRock (NYSE:BLK) last announced its earnings results on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.82 by $0.04. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the previous year, the firm posted $4.96 earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. On average, equities analysts anticipate that BlackRock Inc. will post $19.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were given a dividend of $2.29 per share. This represents a $9.16 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Wednesday, August 31st. BlackRock’s payout ratio is 48.83%.
BLK has been the subject of several analyst reports. Deutsche Bank AG boosted their target price on BlackRock from $392.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Goldman Sachs Group Inc. cut BlackRock from a “conviction-buy” rating to a “buy” rating and boosted their target price for the stock from $390.00 to $400.00 in a research note on Monday, August 8th. Zacks Investment Research raised BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Vetr cut BlackRock from a “buy” rating to a “hold” rating and set a $382.97 price objective for the company. in a research report on Tuesday, August 16th. Finally, Barclays PLC upped their price objective on BlackRock from $364.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 24th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $382.94.
In other news, Director J. Richard Kushel sold 8,000 shares of BlackRock stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $356.55, for a total transaction of $2,852,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan Wagner sold 79,346 shares of BlackRock stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $366.35, for a total value of $29,068,407.10. Following the sale, the director now directly owns 587,365 shares in the company, valued at $215,181,167.75. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock Inc. (NYSE:BLK).
Receive News & Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related companies with MarketBeat.com's FREE daily email newsletter.