Teachers Retirement System of The State of Kentucky Has $9.96 Million Position in BlackRock, Inc. (NYSE:BLK)

Teachers Retirement System of The State of Kentucky cut its position in BlackRock, Inc. (NYSE:BLK) by 6.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 10,494 shares of the asset manager’s stock after selling 670 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in BlackRock were worth $9,964,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLK. Coldstream Capital Management Inc. grew its stake in BlackRock by 2.6% in the third quarter. Coldstream Capital Management Inc. now owns 8,002 shares of the asset manager’s stock valued at $7,616,000 after acquiring an additional 200 shares during the period. Geode Capital Management LLC grew its position in shares of BlackRock by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock valued at $2,663,330,000 after purchasing an additional 30,182 shares during the period. Vestcor Inc increased its stake in BlackRock by 4.6% during the 3rd quarter. Vestcor Inc now owns 2,932 shares of the asset manager’s stock worth $2,784,000 after purchasing an additional 128 shares in the last quarter. Resources Management Corp CT ADV raised its holdings in BlackRock by 0.9% during the 3rd quarter. Resources Management Corp CT ADV now owns 14,375 shares of the asset manager’s stock worth $13,650,000 after buying an additional 124 shares during the period. Finally, Drucker Wealth 3.0 LLC lifted its stake in BlackRock by 1.4% in the third quarter. Drucker Wealth 3.0 LLC now owns 4,904 shares of the asset manager’s stock valued at $4,657,000 after buying an additional 67 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling at BlackRock

In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.83, for a total value of $18,824,940.00. Following the transaction, the general counsel now directly owns 8,628 shares of the company’s stock, valued at $9,023,421.24. This represents a 67.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,190 shares of company stock valued at $113,161,681 in the last quarter. 0.90% of the stock is currently owned by insiders.

BlackRock Price Performance

Shares of BLK opened at $1,065.26 on Thursday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $1,008.89 and its 200 day simple moving average is $900.74. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,082.45. The company has a market cap of $164.99 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 1.88 and a beta of 1.28.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the company posted $10.91 earnings per share. On average, research analysts forecast that BlackRock, Inc. will post 43.18 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. TD Cowen boosted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. The Goldman Sachs Group boosted their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. StockNews.com began coverage on BlackRock in a report on Saturday, December 7th. They set a “hold” rating for the company. Evercore ISI boosted their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,027.31.

About BlackRock

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.