Texas Permanent School Fund lessened its holdings in BlackRock, Inc. (NYSE:BLK) by 1.9% during the fourth quarter, Holdings Channel reports. The fund owned 33,704 shares of the asset manager’s stock after selling 647 shares during the period. Texas Permanent School Fund’s holdings in BlackRock were worth $17,314,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. CENTRAL TRUST Co grew its position in BlackRock by 2.5% in the fourth quarter. CENTRAL TRUST Co now owns 7,059 shares of the asset manager’s stock valued at $3,626,000 after acquiring an additional 170 shares during the last quarter. Lau Associates LLC grew its position in BlackRock by 10.3% in the fourth quarter. Lau Associates LLC now owns 1,026 shares of the asset manager’s stock valued at $527,000 after acquiring an additional 96 shares during the last quarter. UMB Bank N A MO grew its position in BlackRock by 0.9% in the fourth quarter. UMB Bank N A MO now owns 38,034 shares of the asset manager’s stock valued at $19,539,000 after acquiring an additional 337 shares during the last quarter. Osborn Williams & Donohoe LLC grew its position in BlackRock by 8.3% in the fourth quarter. Osborn Williams & Donohoe LLC now owns 23,318 shares of the asset manager’s stock valued at $11,978,000 after acquiring an additional 1,779 shares during the last quarter. Finally, Asset Advisors Corp grew its position in BlackRock by 1.9% in the fourth quarter. Asset Advisors Corp now owns 16,985 shares of the asset manager’s stock valued at $8,725,000 after acquiring an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 83.60% of the company’s stock.
In related news, insider Jeff A. Smith sold 100 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $477.54, for a total value of $47,754.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan Wagner sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total value of $2,024,400.00. Following the completion of the sale, the director now owns 481,915 shares in the company, valued at $243,897,181.50. The disclosure for this sale can be found here. Insiders sold 4,525 shares of company stock worth $2,312,687 over the last quarter. 1.86% of the stock is currently owned by company insiders.
BlackRock (NYSE:BLK) last announced its earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.94 by $0.30. BlackRock had a return on equity of 12.54% and a net margin of 39.79%. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the business posted $5.14 earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. sell-side analysts predict that BlackRock, Inc. will post 28.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be issued a $2.88 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This is a boost from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 annualized dividend and a yield of 1.95%. BlackRock’s dividend payout ratio is presently 33.00%.
Several analysts have recently weighed in on BLK shares. Credit Suisse Group restated a “buy” rating and set a $680.00 price target on shares of BlackRock in a report on Friday, January 12th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target on the stock in a report on Tuesday, October 3rd. Goldman Sachs Group upgraded BlackRock from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $440.00 to $500.00 in a report on Thursday, September 28th. Citigroup boosted their price target on BlackRock to $625.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Finally, Argus restated a “buy” rating and set a $620.00 price target (up from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $547.92.
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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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