Teacher Retirement System of Texas lowered its position in BlackRock, Inc. (NYSE:BLK) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,925 shares of the asset manager’s stock after selling 959 shares during the quarter. Teacher Retirement System of Texas’ holdings in BlackRock were worth $7,000,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in BLK. Carmichael Hill & Associates Inc. purchased a new stake in shares of BlackRock during the 4th quarter valued at about $27,000. Garrett Wealth Advisory Group LLC purchased a new stake in BlackRock during the 3rd quarter worth approximately $30,000. Asset Dedication LLC purchased a new stake in BlackRock during the 3rd quarter worth approximately $33,000. CFM Wealth Partners LLC purchased a new stake in BlackRock during the 4th quarter worth approximately $33,000. Finally, Simon Quick Advisors LLC increased its holdings in BlackRock by 760.0% during the 4th quarter. Simon Quick Advisors LLC now owns 86 shares of the asset manager’s stock worth $43,000 after purchasing an additional 76 shares during the last quarter. Institutional investors and hedge funds own 81.94% of the company’s stock.
Shares of NYSE BLK traded down $2.61 during trading on Monday, reaching $565.94. The stock had a trading volume of 472,387 shares, compared to its average volume of 613,576. BlackRock, Inc. has a one year low of $403.54 and a one year high of $576.81. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.33 and a current ratio of 2.33. The stock has a market cap of $87.36 billion, a PE ratio of 19.89, a P/E/G ratio of 1.63 and a beta of 1.53. The firm’s 50 day moving average price is $527.75 and its two-hundred day moving average price is $474.04.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Thursday, March 5th will be given a dividend of $3.63 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $14.52 dividend on an annualized basis and a yield of 2.57%. This is a positive change from BlackRock’s previous quarterly dividend of $3.30. BlackRock’s payout ratio is currently 46.35%.
In related news, Director Mark Wiedman sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $542.00, for a total transaction of $2,032,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marc D. Comerchero sold 600 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $553.01, for a total value of $331,806.00. The disclosure for this sale can be found here. Insiders have sold a total of 62,081 shares of company stock valued at $33,360,947 in the last 90 days. Insiders own 1.42% of the company’s stock.
Several research firms have issued reports on BLK. Wells Fargo & Co restated a “buy” rating on shares of BlackRock in a report on Sunday, January 19th. Deutsche Bank downgraded BlackRock from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $585.00 to $584.00 in a report on Friday. Citigroup lifted their price objective on BlackRock from $565.00 to $580.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Argus reiterated a “buy” rating and issued a $570.00 price target (up from $535.00) on shares of BlackRock in a report on Wednesday, January 15th. Finally, Morgan Stanley boosted their price target on BlackRock from $603.00 to $621.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $547.33.
BlackRock Company Profile
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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