Teacher Retirement System of Texas Acquires 1,842 Shares of BlackRock Inc. (BLK)
Teacher Retirement System of Texas raised its position in BlackRock Inc. (NYSE:BLK) by 19.5% during the second quarter, Holdings Channel reports. The firm owned 11,276 shares of the company’s stock after buying an additional 1,842 shares during the period. Teacher Retirement System of Texas’ holdings in BlackRock were worth $3,862,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Feltz Wealth PLAN Inc. purchased a new stake in shares of BlackRock during the second quarter worth about $126,000. Ropes Wealth Advisors LLC raised its stake in shares of BlackRock by 35.3% in the first quarter. Ropes Wealth Advisors LLC now owns 387 shares of the company’s stock worth $132,000 after buying an additional 101 shares during the period. Citizens Financial Group Inc RI raised its stake in shares of BlackRock by 16.1% in the first quarter. Citizens Financial Group Inc RI now owns 389 shares of the company’s stock worth $133,000 after buying an additional 54 shares during the period. Financial Architects Inc raised its stake in shares of BlackRock by 7.8% in the second quarter. Financial Architects Inc now owns 431 shares of the company’s stock worth $148,000 after buying an additional 31 shares during the period. Finally, Jolley Asset Management LLC raised its stake in shares of BlackRock by 51.6% in the second quarter. Jolley Asset Management LLC now owns 485 shares of the company’s stock worth $166,000 after buying an additional 165 shares during the period. 81.59% of the stock is owned by institutional investors and hedge funds.
BlackRock Inc. (NYSE:BLK) traded down 0.20% during midday trading on Tuesday, hitting $367.22. 172,738 shares of the stock traded hands. The company has a 50-day moving average of $369.32 and a 200-day moving average of $354.10. BlackRock Inc. has a 1-year low of $280.55 and a 1-year high of $376.65. The stock has a market cap of $60.39 billion, a PE ratio of 19.57 and a beta of 1.45.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing the consensus estimate of $4.82 by $0.04. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the prior year, the business earned $4.96 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. On average, equities analysts expect that BlackRock Inc. will post $19.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd will be given a dividend of $2.29 per share. The ex-dividend date is Wednesday, August 31st. This represents a $9.16 annualized dividend and a dividend yield of 2.49%. BlackRock’s dividend payout ratio is currently 48.83%.
A number of analysts recently issued reports on the stock. Deutsche Bank AG restated a “buy” rating and set a $392.00 target price (up previously from $372.00) on shares of BlackRock in a research report on Sunday, July 10th. Barclays PLC restated a “hold” rating on shares of BlackRock in a research report on Sunday, July 17th. Jefferies Group restated a “hold” rating on shares of BlackRock in a research report on Friday, August 5th. Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, Keefe, Bruyette & Woods lowered shares of BlackRock from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $390.00 to $383.00 in a research report on Friday, July 15th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. BlackRock has a consensus rating of “Buy” and a consensus target price of $382.94.
In other news, Director Mark Mccombe sold 1,400 shares of the stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $374.92, for a total value of $524,888.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director J. Richard Kushel sold 8,000 shares of the stock in a transaction on Friday, July 15th. The shares were sold at an average price of $356.55, for a total value of $2,852,400.00. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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