Public Employees Retirement Association of Colorado lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 328,232 shares of the asset manager’s stock after selling 2,237 shares during the period. BlackRock accounts for about 1.2% of Public Employees Retirement Association of Colorado’s investment portfolio, making the stock its 8th biggest holding. Public Employees Retirement Association of Colorado’s holdings in BlackRock were worth $287,193,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Martingale Asset Management L P boosted its stake in shares of BlackRock by 1,218.9% in the first quarter. Martingale Asset Management L P now owns 54,274 shares of the asset manager’s stock worth $40,921,000 after acquiring an additional 50,159 shares during the period. Commerce Bank boosted its stake in shares of BlackRock by 0.8% in the second quarter. Commerce Bank now owns 57,178 shares of the asset manager’s stock worth $50,029,000 after acquiring an additional 475 shares during the period. US Bancorp DE boosted its stake in shares of BlackRock by 2.0% in the second quarter. US Bancorp DE now owns 154,443 shares of the asset manager’s stock worth $135,133,000 after acquiring an additional 2,980 shares during the period. Castellan Group LLC boosted its stake in shares of BlackRock by 10.4% in the first quarter. Castellan Group LLC now owns 2,120 shares of the asset manager’s stock worth $1,598,000 after acquiring an additional 200 shares during the period. Finally, AGF Investments Inc. lifted its position in shares of BlackRock by 3.6% in the second quarter. AGF Investments Inc. now owns 2,535 shares of the asset manager’s stock worth $2,218,000 after buying an additional 88 shares in the last quarter. 78.13% of the stock is owned by institutional investors and hedge funds.
NYSE:BLK traded up $16.14 during midday trading on Thursday, hitting $883.95. The stock had a trading volume of 15,228 shares, compared to its average volume of 583,632. BlackRock, Inc. has a one year low of $587.90 and a one year high of $959.89. The company has a market capitalization of $134.53 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 2.40 and a beta of 1.15. The stock has a 50-day moving average of $895.01 and a 200 day moving average of $866.24. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 22nd. Shareholders of record on Tuesday, September 7th were given a dividend of $4.13 per share. The ex-dividend date of this dividend was Friday, September 3rd. This represents a $16.52 annualized dividend and a yield of 1.87%. BlackRock’s dividend payout ratio (DPR) is presently 48.85%.
A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price on BlackRock from $1,039.00 to $1,008.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley upped their price objective on BlackRock from $1,021.00 to $1,026.00 and gave the company an “overweight” rating in a research report on Thursday. Argus upped their price objective on BlackRock from $950.00 to $975.00 and gave the company a “buy” rating in a research report on Thursday, July 15th. Evercore ISI reiterated a “buy” rating and issued a $956.00 price target on shares of BlackRock in a report on Thursday. Finally, Citigroup increased their price target on BlackRock from $1,030.00 to $1,035.00 and gave the stock a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock has a consensus rating of “Buy” and an average target price of $952.93.
In other BlackRock news, General Counsel Christopher J. Meade sold 2,106 shares of the stock in a transaction on Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total transaction of $1,847,467.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.16% of the stock is currently owned by company insiders.
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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