TIAA Trust National Association Has $2.89 Million Holdings in BlackRock, Inc. (NYSE:BLK)

TIAA Trust National Association trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,819 shares of the asset manager’s stock after selling 16 shares during the quarter. TIAA Trust National Association’s holdings in BlackRock were worth $2,890,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of BlackRock by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager’s stock valued at $13,712,493,000 after purchasing an additional 68,405 shares during the last quarter. State Street Corp increased its holdings in shares of BlackRock by 0.7% during the third quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock valued at $5,681,472,000 after acquiring an additional 42,757 shares in the last quarter. Geode Capital Management LLC raised its holdings in BlackRock by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock worth $2,663,330,000 after buying an additional 30,182 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of BlackRock by 17.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,102,643 shares of the asset manager’s stock worth $1,130,330,000 after acquiring an additional 160,323 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in BlackRock by 138,682.5% during the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock worth $634,000 after purchasing an additional 633,779 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the sale, the director now directly owns 68,433 shares of the company’s stock, valued at $69,117,330. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is currently owned by insiders.

BlackRock Price Performance

BLK stock opened at $968.79 on Thursday. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The firm has a market capitalization of $150.41 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.90 and a beta of 1.28. The firm has a 50 day moving average price of $980.33 and a 200-day moving average price of $990.36. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm earned $9.66 earnings per share. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. Equities research analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were issued a $5.21 dividend. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Friday, March 7th. BlackRock’s payout ratio is currently 49.62%.

Wall Street Analyst Weigh In

BLK has been the subject of several analyst reports. Citigroup increased their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Morgan Stanley increased their price target on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. UBS Group boosted their target price on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Barclays reduced their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Wells Fargo & Company upped their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average price target of $1,120.67.

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.