BlackRock, Inc. (NYSE:BLK) Stock Holdings Reduced by Utah Retirement Systems

Utah Retirement Systems lowered its position in BlackRock, Inc. (NYSE:BLK) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,311 shares of the asset manager’s stock after selling 1,182 shares during the quarter. Utah Retirement Systems’ holdings in BlackRock were worth $21,346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. boosted its stake in shares of BlackRock by 6.8% during the 1st quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 780 shares of the asset manager’s stock worth $588,000 after acquiring an additional 50 shares in the last quarter. Evercore Wealth Management LLC boosted its stake in shares of BlackRock by 1.4% during the 1st quarter. Evercore Wealth Management LLC now owns 110,711 shares of the asset manager’s stock worth $83,472,000 after acquiring an additional 1,488 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of BlackRock by 258.0% during the 1st quarter. Loomis Sayles & Co. L P now owns 59,965 shares of the asset manager’s stock worth $45,211,000 after acquiring an additional 43,214 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in shares of BlackRock by 3.2% during the 1st quarter. State of Wisconsin Investment Board now owns 207,364 shares of the asset manager’s stock worth $156,344,000 after acquiring an additional 6,498 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of BlackRock by 2.7% during the 1st quarter. Morgan Stanley now owns 2,300,590 shares of the asset manager’s stock worth $1,734,554,000 after acquiring an additional 59,432 shares in the last quarter. Hedge funds and other institutional investors own 79.97% of the company’s stock.

Several research firms have recently issued reports on BLK. Morgan Stanley upped their price target on BlackRock from $944.00 to $1,017.00 and gave the stock an “overweight” rating in a research note on Friday, July 9th. Credit Suisse Group cut their price objective on BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating for the company in a research report on Thursday, July 15th. BMO Capital Markets upped their price target on BlackRock from $773.00 to $803.00 and gave the company a “market perform” rating in a report on Thursday, July 15th. Citigroup upped their price target on BlackRock from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Monday, July 12th. Finally, Argus upped their price target on BlackRock from $950.00 to $975.00 and gave the company a “buy” rating in a report on Thursday, July 15th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $943.17.

In related news, CEO Laurence Fink sold 31,668 shares of the firm’s stock in a transaction on Thursday, May 6th. The stock was sold at an average price of $865.89, for a total transaction of $27,421,004.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 175 shares of the firm’s stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $884.50, for a total value of $154,787.50. The disclosure for this sale can be found here. Company insiders own 1.16% of the company’s stock.

NYSE BLK traded down $5.93 during trading hours on Thursday, reaching $876.75. 6,316 shares of the company’s stock were exchanged, compared to its average volume of 640,264. The company has a market cap of $133.73 billion, a PE ratio of 24.78, a PEG ratio of 2.31 and a beta of 1.15. BlackRock, Inc. has a one year low of $531.39 and a one year high of $920.31. The business’s fifty day simple moving average is $874.10. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.44 and a current ratio of 4.44.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, July 13th. The asset manager reported $10.03 EPS for the quarter, topping the Zacks’ consensus estimate of $9.33 by $0.70. The business had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.61 billion. BlackRock had a return on equity of 16.44% and a net margin of 30.39%. BlackRock’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the prior year, the company earned $7.85 EPS. On average, equities analysts forecast that BlackRock, Inc. will post 38.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 22nd. Stockholders of record on Tuesday, September 7th will be paid a $4.13 dividend. This represents a $16.52 dividend on an annualized basis and a dividend yield of 1.88%. BlackRock’s dividend payout ratio (DPR) is currently 48.85%.

About BlackRock

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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