State of Tennessee Treasury Department increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 31.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,931 shares of the asset manager’s stock after purchasing an additional 21,683 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.06% of BlackRock worth $37,987,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Financial Architects Inc grew its position in shares of BlackRock by 0.7% during the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock worth $123,000 after purchasing an additional 2 shares in the last quarter. Davis R M Inc. grew its position in shares of BlackRock by 0.4% during the second quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock worth $238,000 after purchasing an additional 2 shares in the last quarter. Eqis Capital Management Inc. grew its position in shares of BlackRock by 0.5% during the first quarter. Eqis Capital Management Inc. now owns 609 shares of the asset manager’s stock worth $233,000 after purchasing an additional 3 shares in the last quarter. National Asset Management Inc. grew its position in shares of BlackRock by 0.4% during the first quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock worth $275,000 after purchasing an additional 3 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of BlackRock by 1.2% during the second quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock worth $111,000 after purchasing an additional 3 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

In other news, insider Jeff A. Smith sold 250 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. Insiders sold 4,447 shares of company stock valued at $1,855,015 over the last 90 days. Company insiders own 1.86% of the company’s stock.

Shares of BlackRock, Inc. (NYSE BLK) opened at 429.44 on Tuesday. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.84. The company has a market capitalization of $69.66 billion, a price-to-earnings ratio of 20.61 and a beta of 1.71. The stock has a 50 day moving average price of $422.28 and a 200 day moving average price of $406.57.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.39 by ($0.15). The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. BlackRock’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $4.78 earnings per share. On average, equities analysts anticipate that BlackRock, Inc. will post $21.83 EPS for the current fiscal year.

The business 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 $2.50 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.33%. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.

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Several equities analysts have weighed in on BLK shares. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target for the company in a report on Tuesday, June 20th. Bank of America Corporation restated a “buy” rating and set a $450.00 price target on shares of BlackRock in a report on Monday, June 19th. Deutsche Bank AG raised their price target on BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. BidaskClub cut BlackRock from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC restated a “hold” rating and set a $440.00 price target on shares of BlackRock in a report on Friday, August 18th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $449.08.

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.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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