BlackRock, Inc. (BLK) Shares Bought by Teachers Advisors LLC
Teachers Advisors LLC raised its holdings in BlackRock, Inc. (NYSE:BLK) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 223,418 shares of the asset manager’s stock after purchasing an additional 9,871 shares during the quarter. Teachers Advisors LLC’s holdings in BlackRock were worth $114,772,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Berkshire Asset Management LLC PA increased its stake in shares of BlackRock by 33.0% in the 4th quarter. Berkshire Asset Management LLC PA now owns 899 shares of the asset manager’s stock valued at $462,000 after buying an additional 223 shares during the period. New York State Common Retirement Fund grew its stake in shares of BlackRock by 9.7% during the third quarter. New York State Common Retirement Fund now owns 357,800 shares of the asset manager’s stock worth $159,969,000 after purchasing an additional 31,600 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of BlackRock during the third quarter worth $1,778,000. Schwab Charles Investment Management Inc. grew its stake in shares of BlackRock by 4.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 418,198 shares of the asset manager’s stock worth $186,973,000 after purchasing an additional 17,491 shares during the period. Finally, Sei Investments Co. grew its stake in shares of BlackRock by 11.2% during the third quarter. Sei Investments Co. now owns 27,991 shares of the asset manager’s stock worth $12,515,000 after purchasing an additional 2,829 shares during the period. Hedge funds and other institutional investors own 84.65% of the company’s stock.
A number of equities research analysts recently commented on the company. Zacks Investment Research raised BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price objective for the company in a research note on Thursday, January 11th. Jefferies Group lifted their target price on BlackRock to $565.00 and gave the stock a “hold” rating in a report on Monday, January 15th. Citigroup lifted their target price on BlackRock to $625.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Wells Fargo & Co reiterated a “market perform” rating and set a $555.00 target price (up from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Finally, Deutsche Bank reduced their target price on BlackRock to $623.00 and set a “buy” rating on the stock in a report on Tuesday, March 6th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. BlackRock currently has a consensus rating of “Buy” and an average price target of $560.85.
BlackRock (NYSE:BLK) last released its earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.94 by $0.30. BlackRock had a return on equity of 12.31% and a net margin of 39.79%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the company posted $5.14 earnings per share. BlackRock’s revenue was up 20.0% on a year-over-year basis. sell-side analysts anticipate that BlackRock, Inc. will post 28.49 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be issued a dividend of $2.88 per share. This represents a $11.52 annualized dividend and a yield of 2.04%. The ex-dividend date is Tuesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio is presently 38.02%.
In other BlackRock news, COO Robert L. Goldstein sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $558.00, for a total transaction of $2,790,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeff A. Smith sold 425 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $565.96, for a total value of $240,533.00. The disclosure for this sale can be found here. Insiders have sold 20,961 shares of company stock worth $11,375,444 in the last quarter. 1.86% of the stock is currently owned by corporate insiders.
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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