BlackRock, Inc. (NYSE:BLK) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in BlackRock, Inc. (NYSE:BLK) by 36.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,227 shares of the asset manager’s stock after selling 30,501 shares during the period. State of New Jersey Common Pension Fund D’s holdings in BlackRock were worth $42,694,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC boosted its stake in BlackRock by 25.0% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after acquiring an additional 40 shares during the period. Zhang Financial LLC boosted its stake in BlackRock by 24.0% in the first quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock valued at $736,000 after acquiring an additional 171 shares during the period. California State Teachers Retirement System boosted its stake in BlackRock by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock valued at $192,997,000 after acquiring an additional 1,647 shares during the period. Axxcess Wealth Management LLC boosted its stake in BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after acquiring an additional 1,248 shares during the period. Finally, Morningstar Investment Services LLC boosted its stake in BlackRock by 97.1% in the fourth quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock valued at $93,151,000 after acquiring an additional 56,357 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BLK. Argus boosted their price objective on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Citigroup boosted their price objective on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Barclays boosted their price objective on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Evercore ISI boosted their price objective on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $883.47.

BlackRock Trading Down 0.8 %

NYSE BLK opened at $877.12 on Thursday. The firm’s 50 day moving average price is $854.14 and its two-hundred day moving average price is $813.31. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $903.46. The stock has a market cap of $130.34 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.89 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the previous year, the company posted $9.28 EPS. BlackRock’s revenue was up 7.7% on a year-over-year basis. Equities analysts anticipate that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Buying and Selling

In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,042 shares of company stock worth $79,387,117. Corporate insiders own 0.90% of the company’s stock.

About BlackRock

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.