Retirement Systems of Alabama Has $25.02 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Retirement Systems of Alabama lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.9% in the fourth quarter, HoldingsChannel reports. The fund owned 30,819 shares of the asset manager’s stock after selling 914 shares during the period. Retirement Systems of Alabama’s holdings in BlackRock were worth $25,019,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in shares of BlackRock by 77,524.5% in the 4th quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock valued at $5,211,390,000 after purchasing an additional 641,128 shares during the last quarter. FMR LLC raised its position in shares of BlackRock by 22.0% during the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after acquiring an additional 379,631 shares during the last quarter. Invesco Ltd. boosted its position 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 purchasing an additional 340,792 shares during the last quarter. Wellington Management Group LLP increased its holdings 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 valued at $1,128,544,000 after purchasing an additional 307,516 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in BlackRock by 24.3% in the third quarter. Envestnet Asset Management Inc. now owns 713,771 shares of the asset manager’s stock valued at $461,446,000 after buying an additional 139,570 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the transaction, the chief executive officer now owns 414,146 shares in the company, valued at approximately $335,425,128.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other BlackRock news, CFO Martin Small sold 7,036 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $786.36, for a total value of $5,532,828.96. Following the sale, the chief financial officer now owns 5,259 shares in the company, valued at $4,135,467.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The disclosure for this sale can be found here. Insiders sold 82,511 shares of company stock worth $66,778,367 over the last three months. Insiders own 0.90% of the company’s stock.

BlackRock Stock Down 0.2 %

NYSE BLK opened at $761.28 on Tuesday. The company has a 50 day moving average of $801.42 and a 200-day moving average of $762.69. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The company has a market cap of $113.39 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.58 and a beta of 1.37.

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

Wall Street Analyst Weigh In

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

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.