New Mexico Educational Retirement Board trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 10,139 shares of the asset manager’s stock after selling 300 shares during the period. New Mexico Educational Retirement Board’s holdings in BlackRock were worth $4,333,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in BLK. Norges Bank bought a new stake in shares of BlackRock during the 4th quarter valued at $1,092,934,000. Rehmann Capital Advisory Group grew its stake in BlackRock by 51,763.3% during the third quarter. Rehmann Capital Advisory Group now owns 1,084,461 shares of the asset manager’s stock valued at $2,300,000 after acquiring an additional 1,082,370 shares in the last quarter. Pennsylvania Trust Co grew its stake in BlackRock by 5,049.8% during the first quarter. Pennsylvania Trust Co now owns 1,084,132 shares of the asset manager’s stock valued at $44,805,000 after acquiring an additional 1,063,080 shares in the last quarter. Flossbach Von Storch AG grew its stake in BlackRock by 114.1% during the fourth quarter. Flossbach Von Storch AG now owns 582,743 shares of the asset manager’s stock valued at $228,913,000 after acquiring an additional 310,623 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. purchased a new position in BlackRock during the fourth quarter valued at $6,039,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.
In related news, Director Jeff A. Smith sold 225 shares of BlackRock stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $431.01, for a total transaction of $96,977.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert L. Goldstein sold 5,133 shares of BlackRock stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $443.00, for a total transaction of $2,273,919.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 138,650 shares of company stock valued at $57,774,089. 1.75% of the stock is owned by corporate insiders.
Shares of NYSE:BLK opened at $466.54 on Wednesday. BlackRock, Inc. has a 52 week low of $360.79 and a 52 week high of $557.00. The firm has a market capitalization of $71.41 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.40. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.11 and a quick ratio of 1.11.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, April 16th. The asset manager reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $6.13 by $0.48. BlackRock had a net margin of 30.32% and a return on equity of 13.51%. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.30 billion. During the same period in the previous year, the company earned $6.48 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, research analysts expect that BlackRock, Inc. will post 27.07 EPS for the current fiscal year.
Several equities analysts recently weighed in on the stock. Citigroup raised their target price on shares of BlackRock from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Monday. Deutsche Bank raised their target price on shares of BlackRock from $428.00 to $431.00 and gave the company a “hold” rating in a research note on Friday, March 15th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $491.00 target price for the company in a research note on Tuesday, April 2nd. Barclays raised their target price on shares of BlackRock from $472.00 to $490.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Finally, Bank of America reaffirmed a “buy” rating and set a $498.00 target price (up from $490.00) on shares of BlackRock in a research note on Friday, March 8th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $501.53.
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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.
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