New York State Teachers Retirement System Sells 5,953 Shares of BlackRock, Inc. (NYSE:BLK)

New York State Teachers Retirement System lessened its holdings in BlackRock, Inc. (NYSE:BLK) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,675 shares of the asset manager’s stock after selling 5,953 shares during the quarter. New York State Teachers Retirement System owned 0.08% of BlackRock worth $119,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new position in BlackRock during the third quarter valued at about $2,216,000. Pathway Financial Advisers LLC grew its position in shares of BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after acquiring an additional 1,044,962 shares during the period. Avitas Wealth Management LLC increased its stake in shares of BlackRock by 31.1% during the 3rd quarter. Avitas Wealth Management LLC now owns 2,839 shares of the asset manager’s stock worth $2,696,000 after purchasing an additional 674 shares during the last quarter. Childress Capital Advisors LLC purchased a new position in BlackRock in the third quarter valued at approximately $250,000. Finally, Highview Capital Management LLC DE grew its holdings in BlackRock by 6.5% during the third quarter. Highview Capital Management LLC DE now owns 1,716 shares of the asset manager’s stock valued at $1,629,000 after purchasing an additional 104 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of recent research reports. Morgan Stanley upped their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Evercore ISI increased their target price on shares of BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Barclays raised their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, StockNews.com started coverage on shares of BlackRock in a report on Monday. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $995.31.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,042 shares of company stock valued at $56,857,777 over the last 90 days. 0.90% of the stock is owned by insiders.

BlackRock Price Performance

Shares of BLK traded up $13.79 during trading hours on Wednesday, reaching $996.96. 51,140 shares of the company’s stock traded hands, compared to its average volume of 568,605. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm’s 50 day simple moving average is $933.29 and its 200-day simple moving average is $847.45. The stock has a market cap of $148.15 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 12 month low of $604.41 and a 12 month high of $1,032.00.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.91 EPS. Equities analysts expect that BlackRock, Inc. will post 41.73 EPS for the current year.

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.