Public Employees Retirement Association of Colorado cut its stake in BlackRock Inc. (NYSE:BLK) by 5.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 25,919 shares of the company’s stock after selling 1,423 shares during the period. Public Employees Retirement Association of Colorado’s holdings in BlackRock were worth $8,878,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Burke & Herbert Bank & Trust Co. boosted its stake in BlackRock by 0.5% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 1,249 shares of the company’s stock worth $428,000 after buying an additional 6 shares during the last quarter. Private Bank & Trust Co. boosted its stake in BlackRock by 0.6% in the second quarter. Private Bank & Trust Co. now owns 1,331 shares of the company’s stock worth $456,000 after buying an additional 8 shares during the last quarter. Coastline Trust Co raised its position in BlackRock by 0.3% in the second quarter. Coastline Trust Co now owns 4,840 shares of the company’s stock valued at $1,657,000 after buying an additional 15 shares during the period. MSI Financial Services Inc raised its position in BlackRock by 0.5% in the second quarter. MSI Financial Services Inc now owns 3,398 shares of the company’s stock valued at $1,164,000 after buying an additional 16 shares during the period. Finally, Dynamic Advisors Solutions LLC raised its position in BlackRock by 0.9% in the second quarter. Dynamic Advisors Solutions LLC now owns 2,080 shares of the company’s stock valued at $712,000 after buying an additional 19 shares during the period. 81.58% of the stock is owned by hedge funds and other institutional investors.
BlackRock Inc. (NYSE:BLK) traded up 1.59% during midday trading on Friday, reaching $354.91. The company’s stock had a trading volume of 790,278 shares. BlackRock Inc. has a 52 week low of $280.55 and a 52 week high of $376.65. The firm has a market cap of $58.37 billion, a P/E ratio of 18.91 and a beta of 1.46. The firm has a 50 day moving average price of $364.07 and a 200-day moving average price of $357.11.
BlackRock (NYSE:BLK) last issued its earnings results on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.82 by $0.04. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The firm earned $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the business posted $4.96 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts forecast that BlackRock Inc. will post $19.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were paid a $2.29 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $9.16 annualized dividend and a yield of 2.58%. BlackRock’s dividend payout ratio (DPR) is currently 48.83%.
Several equities analysts have weighed in on the company. Barclays PLC restated a “hold” rating on shares of BlackRock in a report on Sunday, July 17th. Deutsche Bank AG restated a “buy” rating and set a $392.00 target price (up from $372.00) on shares of BlackRock in a report on Sunday, July 10th. Keefe, Bruyette & Woods restated a “hold” rating and set a $393.00 target price on shares of BlackRock in a report on Friday. Jefferies Group restated a “hold” rating on shares of BlackRock in a report on Friday, August 5th. Finally, Zacks Investment Research upgraded BlackRock from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. BlackRock presently has a consensus rating of “Buy” and an average target price of $385.26.
In other BlackRock news, Director Susan Wagner sold 79,346 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $366.35, for a total value of $29,068,407.10. Following the transaction, the director now directly owns 587,365 shares of the company’s stock, valued at approximately $215,181,167.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ryan Stork sold 1,400 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $367.24, for a total transaction of $514,136.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
BlackRock Company Profile
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.