California Public Employees Retirement System cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 8.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 257,871 shares of the asset manager’s stock after selling 22,423 shares during the quarter. California Public Employees Retirement System owned 0.16% of BlackRock worth $128,688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. boosted its position in BlackRock by 2.1% during the second quarter. BlackRock Inc. now owns 7,601,685 shares of the asset manager’s stock valued at $3,793,546,000 after purchasing an additional 153,749 shares during the last quarter. Summit Trail Advisors LLC boosted its position in BlackRock by 53,902.3% during the first quarter. Summit Trail Advisors LLC now owns 1,274,454 shares of the asset manager’s stock valued at $1,274,000 after purchasing an additional 1,272,094 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in BlackRock by 2.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 476,036 shares of the asset manager’s stock valued at $237,562,000 after purchasing an additional 12,785 shares during the last quarter. Royal Bank of Canada boosted its position in BlackRock by 6.9% during the first quarter. Royal Bank of Canada now owns 452,599 shares of the asset manager’s stock valued at $245,183,000 after purchasing an additional 29,222 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its position in BlackRock by 1.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 448,835 shares of the asset manager’s stock valued at $243,142,000 after purchasing an additional 6,507 shares during the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

In other news, Chairman Laurence Fink sold 19,800 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $507.67, for a total value of $10,051,866.00. Following the completion of the sale, the chairman now directly owns 1,098,328 shares of the company’s stock, valued at $557,588,175.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William E. Ford acquired 1,000 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was acquired at an average cost of $467.92 per share, with a total value of $467,920.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at $2,526,768. The disclosure for this purchase can be found here. Company insiders own 1.75% of the company’s stock.

Several brokerages recently commented on BLK. JPMorgan Chase & Co. set a $547.00 price target on BlackRock and gave the company a “buy” rating in a research report on Sunday, July 8th. Citigroup raised BlackRock from a “neutral” rating to a “buy” rating in a research report on Monday, June 18th. Morgan Stanley reduced their price target on BlackRock from $624.00 to $607.00 and set an “overweight” rating for the company in a research report on Thursday, July 12th. Keefe, Bruyette & Woods raised BlackRock from a “market perform” rating to an “outperform” rating and set a $590.00 price target for the company in a research report on Friday, July 13th. Finally, Barclays reduced their price target on BlackRock from $615.00 to $595.00 and set an “overweight” rating for the company in a research report on Tuesday, July 17th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $594.25.

BLK opened at $470.90 on Tuesday. BlackRock, Inc. has a 12-month low of $428.55 and a 12-month high of $594.52. The company has a market capitalization of $75.97 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.48 and a beta of 1.55. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.88.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 16th. The asset manager reported $6.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.55 by $0.11. BlackRock had a return on equity of 13.20% and a net margin of 38.97%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same period last year, the firm posted $5.24 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. equities research analysts anticipate that BlackRock, Inc. will post 27.73 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 24th. Stockholders of record on Friday, September 7th will be given a $3.13 dividend. This represents a $12.52 dividend on an annualized basis and a dividend yield of 2.66%. This is a boost from BlackRock’s previous quarterly dividend of $2.88. The ex-dividend date is Thursday, September 6th. BlackRock’s dividend payout ratio (DPR) is presently 55.40%.

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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