State of New Jersey Common Pension Fund D Sells 572 Shares of BlackRock, Inc. (NYSE:BLK)

State of New Jersey Common Pension Fund D lowered its stake in BlackRock, Inc. (NYSE:BLK) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 84,728 shares of the asset manager’s stock after selling 572 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of BlackRock worth $68,782,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its position in shares of BlackRock by 77,524.5% during the 4th quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock worth $5,211,390,000 after buying an additional 641,128 shares during the last quarter. FMR LLC raised its holdings in shares of BlackRock by 22.0% in the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after acquiring an additional 379,631 shares during the last quarter. Invesco Ltd. grew its stake in shares of BlackRock by 84.4% in the 3rd quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock worth $481,486,000 after acquiring an additional 340,792 shares in the last quarter. Wellington Management Group LLP boosted its position in BlackRock by 21.4% in the third quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock worth $1,128,544,000 after purchasing an additional 307,516 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of BlackRock by 24.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 713,771 shares of the asset manager’s stock worth $461,446,000 after purchasing an additional 139,570 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In other BlackRock news, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the transaction, the director now directly owns 4,437 shares in the company, valued at approximately $3,574,225.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other BlackRock news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen Cohen sold 950 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the sale, the director now directly owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. In the last three months, insiders sold 82,511 shares of company stock worth $66,778,367. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. UBS Group upped their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, Morgan Stanley raised their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Stock Up 0.7 %

Shares of BlackRock stock traded up $5.18 during trading on Friday, hitting $762.83. 447,925 shares of the stock were exchanged, compared to its average volume of 625,928. The firm’s 50-day moving average price is $802.70 and its 200 day moving average price is $759.32. The stock has a market cap of $113.62 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $7.93 earnings per share. As a group, analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

BlackRock 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.