Municipal Employees Retirement System of Michigan decreased its position in BlackRock, Inc. (NYSE:BLK) by 54.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,200 shares of the asset manager’s stock after selling 3,880 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in BlackRock were worth $1,644,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Berkshire Asset Management LLC PA raised its holdings in BlackRock by 33.0% during the 4th quarter. Berkshire Asset Management LLC PA now owns 899 shares of the asset manager’s stock valued at $462,000 after acquiring an additional 223 shares during the period. New York State Common Retirement Fund raised its holdings in BlackRock by 9.7% during the 3rd quarter. New York State Common Retirement Fund now owns 357,800 shares of the asset manager’s stock valued at $159,969,000 after acquiring an additional 31,600 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in BlackRock during the 3rd quarter valued at $1,778,000. Schwab Charles Investment Management Inc. raised its holdings in BlackRock by 4.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 418,198 shares of the asset manager’s stock valued at $186,973,000 after acquiring an additional 17,491 shares during the period. Finally, Sei Investments Co. raised its holdings in BlackRock by 11.2% during the 3rd quarter. Sei Investments Co. now owns 27,991 shares of the asset manager’s stock valued at $12,515,000 after acquiring an additional 2,829 shares during the period. Institutional investors and hedge funds own 84.65% of the company’s stock.
A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and set a $640.00 target price on shares of BlackRock in a report on Wednesday. Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. ValuEngine cut shares of BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Deutsche Bank lowered their target price on shares of BlackRock to $623.00 and set a “buy” rating on the stock in a report on Tuesday, March 6th. Finally, Argus reissued a “buy” rating and set a $620.00 target price (up previously from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. BlackRock presently has an average rating of “Buy” and an average target price of $567.15.
BlackRock, Inc. (NYSE:BLK) opened at $563.66 on Friday. The firm has a market cap of $90,590.30, a price-to-earnings ratio of 18.60, a PEG ratio of 1.52 and a beta of 1.71. BlackRock, Inc. has a 1-year low of $368.00 and a 1-year high of $594.52. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.94 and a quick ratio of 2.94.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share for the quarter, topping the consensus estimate of $5.94 by $0.30. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.31%. The business’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.14 earnings per share. research analysts expect that BlackRock, Inc. will post 28.46 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be issued a $2.88 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $11.52 annualized dividend and a dividend yield of 2.04%. This is a boost from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio is presently 38.02%.
In related news, COO Robert L. Goldstein sold 5,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $558.00, for a total value of $2,790,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeff A. Smith sold 425 shares of the stock in a transaction on Tuesday, January 16th. The shares were 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. In the last ninety days, insiders sold 20,961 shares of company stock worth $11,375,444. Insiders own 1.86% of the company’s stock.
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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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