Teachers Retirement System of The State of Kentucky lessened its stake in BlackRock, Inc. (NYSE:BLK – Get Rating) by 54.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,101 shares of the asset manager’s stock after selling 12,078 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in BlackRock were worth $7,719,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BLK. Western Pacific Wealth Management LP purchased a new stake in BlackRock in the 4th quarter worth $27,000. McIlrath & Eck LLC grew its holdings in shares of BlackRock by 67.9% during the first quarter. McIlrath & Eck LLC now owns 47 shares of the asset manager’s stock worth $36,000 after buying an additional 19 shares in the last quarter. Disciplined Investments LLC grew its holdings in shares of BlackRock by 45.5% during the first quarter. Disciplined Investments LLC now owns 48 shares of the asset manager’s stock worth $37,000 after buying an additional 15 shares in the last quarter. Covestor Ltd purchased a new stake in shares of BlackRock during the fourth quarter worth $38,000. Finally, American National Bank grew its holdings in shares of BlackRock by 103.8% during the first quarter. American National Bank now owns 53 shares of the asset manager’s stock worth $41,000 after buying an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 76.88% of the company’s stock.
Insider Activity at BlackRock
In related news, President Robert Kapito sold 37,588 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the sale, the president now owns 226,680 shares of the company’s stock, valued at $143,461,238.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 44,500 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $684.61, for a total value of $30,465,145.00. Following the transaction, the chief executive officer now directly owns 563,771 shares in the company, valued at $385,963,264.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Robert Kapito sold 37,588 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $632.88, for a total transaction of $23,788,693.44. Following the sale, the president now owns 226,680 shares of the company’s stock, valued at approximately $143,461,238.40. The disclosure for this sale can be found here. Insiders have sold a total of 83,448 shares of company stock valued at $55,259,953 over the last 90 days. 1.06% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
BlackRock Stock Down 0.9 %
Shares of BLK opened at $626.74 on Friday. The stock has a market capitalization of $94.49 billion, a PE ratio of 16.52, a P/E/G ratio of 3.31 and a beta of 1.23. BlackRock, Inc. has a 1 year low of $575.60 and a 1 year high of $973.16. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.64 and a current ratio of 3.64. The company’s 50-day simple moving average is $670.71 and its 200-day simple moving average is $668.48.
BlackRock (NYSE:BLK – Get Rating) last issued its quarterly earnings results on Friday, July 15th. The asset manager reported $7.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.94 by ($0.58). The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.53 billion. BlackRock had a return on equity of 15.74% and a net margin of 30.12%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $10.03 EPS. Analysts forecast that BlackRock, Inc. will post 33.92 earnings per share for the current fiscal year.
BlackRock Increases Dividend
The company also recently announced a dividend, which will be paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th will be issued a $4.88 dividend. This is a boost from BlackRock’s previous dividend of $2.29. The ex-dividend date is Tuesday, September 6th. BlackRock’s dividend payout ratio (DPR) is 51.46%.
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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