BlackRock (NYSE:BLK) Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its stake in BlackRock (NYSE:BLK - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,238 shares of the asset manager's stock after purchasing an additional 908 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in BlackRock were worth $10,637,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BLK. GAMMA Investing LLC grew its position in shares of BlackRock by 104,598.9% in the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after buying an additional 3,496,740 shares during the last quarter. Norges Bank bought a new position in BlackRock during the fourth quarter valued at approximately $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of BlackRock by 401.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock worth $1,122,743,000 after buying an additional 876,836 shares during the period. Envestnet Asset Management Inc. purchased a new position in BlackRock during the 4th quarter worth $572,730,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of BlackRock by 18.6% in the 4th quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock valued at $2,152,907,000 after acquiring an additional 329,244 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the sale, the director directly owned 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Performance

NYSE BLK traded up $8.80 during trading hours on Tuesday, reaching $1,101.82. 580,751 shares of the company were exchanged, compared to its average volume of 700,708. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,119.19. The business's 50 day simple moving average is $1,013.56 and its 200-day simple moving average is $972.65. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $170.70 billion, a P/E ratio of 26.64, a P/E/G ratio of 2.23 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the business posted $10.36 earnings per share. BlackRock's revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were issued a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.89%. The ex-dividend date was Thursday, June 5th. BlackRock's dividend payout ratio is 50.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BLK shares. Bank of America raised their price target on BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Morgan Stanley cut their price target on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a report on Wednesday, July 16th. Argus reiterated a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Barclays increased their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Citigroup decreased their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,151.21.

BlackRock Profile

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.