New Mexico Educational Retirement Board cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 8.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,239 shares of the asset manager’s stock after selling 1,100 shares during the period. New Mexico Educational Retirement Board’s holdings in BlackRock were worth $4,794,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Fisher Asset Management LLC increased its stake in shares of BlackRock by 44.1% in the first quarter. Fisher Asset Management LLC now owns 108,774 shares of the asset manager’s stock worth $41,716,000 after buying an additional 33,283 shares during the period. Stifel Financial Corp increased its stake in shares of BlackRock by 19.1% in the first quarter. Stifel Financial Corp now owns 170,590 shares of the asset manager’s stock worth $65,487,000 after buying an additional 27,321 shares during the period. KBC Group NV increased its stake in shares of BlackRock by 35.1% in the first quarter. KBC Group NV now owns 50,282 shares of the asset manager’s stock worth $19,284,000 after buying an additional 13,065 shares during the period. Kanawha Capital Management LLC increased its stake in shares of BlackRock by 7.1% in the first quarter. Kanawha Capital Management LLC now owns 2,568 shares of the asset manager’s stock worth $985,000 after buying an additional 170 shares during the period. Finally, Rafferty Asset Management LLC increased its stake in shares of BlackRock by 260.6% in the first quarter. Rafferty Asset Management LLC now owns 22,709 shares of the asset manager’s stock worth $8,709,000 after buying an additional 16,411 shares during the period. 82.76% of the stock is owned by hedge funds and other institutional investors.

Shares of BlackRock, Inc. (NYSE:BLK) opened at 414.13 on Wednesday. The firm has a market cap of $67.17 billion, a PE ratio of 19.88 and a beta of 1.71. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $442.83. The company’s 50 day moving average is $426.79 and its 200-day moving average is $402.77.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.39 by $0.15. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.78 EPS. Equities research analysts predict that BlackRock, Inc. will post $21.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $2.50 per share. The ex-dividend date is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.41%. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.

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BLK has been the subject of a number of research reports. BidaskClub raised shares of BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Morgan Stanley restated an “overweight” rating and issued a $460.00 price objective (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a research note on Friday, July 14th. Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $425.00 price objective (up previously from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $443.00.

In other news, insider Jeff A. Smith sold 522 shares of BlackRock stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total transaction of $220,033.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan Wagner sold 2,500 shares of BlackRock stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $414.31, for a total value of $1,035,775.00. Following the sale, the director now owns 484,386 shares of the company’s stock, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,272 shares of company stock valued at $1,364,526. Corporate insiders own 1.86% of the company’s stock.

About BlackRock

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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