Teacher Retirement System of Texas Acquires 11184 Shares of BlackRock, Inc. (BLK)

Marco Green
July 17, 2017

Other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC boosted its stake in BlackRock by 51.0% in the fourth quarter. Proficio Capital Partners LLC increased its position in shares of BlackRock by 48.9% in the first quarter. BlackRock had $5.68 trillion in assets under management at the end of the second quarter, compared to $4.98 billion at the end of last year's second quarter. Wells Fargo & Company MN now owns 2,041,394 shares of the asset manager's stock worth $782,896,000 after buying an additional 80,433 shares during the period. JNBA Financial Advisors boosted its position in BlackRock by 0.4% in the first quarter.

Shares of the asset management firm have outperformed the broader stock market and the financials sector this year. Shares are trading at $441.39 which is slightly above $410.09, the 50 day moving average and which is just a bit higher than the 200 day moving average of $390.31. Cim Investment Mangement Inc. now owns 2,128 shares of the asset manager's stock valued at $810,000 after buying an additional 26 shares during the last quarter. The Stock becomes significant when you consider how many shares are shorted versus the average daily volume, means how many days to cover those short shares at that volume. BLK's current price-earnings ratio amounts to 21.54 times earnings, below the average P/E ratio of 125.21 times earnings.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, April 19th. The asset manager reported $5.25 earnings per share for the quarter, beating the Zacks' consensus estimate of $4.94 by $0.31. The value of the total investment in BlackRock, Inc. went from $11,652,000 to $13,997,000 a change of $2,345,000 quarter to quarter.

Revenue from investment advisory, administration fees and securities lending rose to $2.675 billion, roughly in line with expectations.

Earnings Per Share came in at $5.24 versus $5.40 expected by Thomson One analysts' consensus.

The company also recently announced a dividend for shareholders which was paid on Friday June 23rd, 2017. Investors of record on Monday, June 5th were paid a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.28%. BlackRock's dividend payout ratio (DPR) is now 49.14%. Excluding certain items, BlackRock earned an adjusted $5.24 a share, up from $4.78 in the year prior. "(NYSE:BLK) Shares Sold by Papp L Roy & Associates" was originally published by BBNS and is owned by of BBNS. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and global copyright and trademark legislation. The legal version of this story can be viewed at https://transcriptdaily.com/2017/07/16/peapack-gladstone-financial-corp-has-22-27-million-position-in-blackrock-inc-blk-updated-updated.html.

BLK has been the subject of several analyst reports. BidaskClub raised shares of BlackRock from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 1st. Morgan Stanley reaffirmed a "buy" rating on shares of BlackRock in a research note on Saturday, March 18th. Bank of America Corporation reaffirmed a "buy" rating and set a $450.00 price target on shares of BlackRock in a report on Monday, June 19th.

On September 9 Deutsche Bank kept the company rating at "Buy" and raised the price target from $383.00 to $414.00. Jefferies Group LLC reiterated a "hold" rating and issued a $387.00 price target on shares of BlackRock in a research note on Wednesday, May 17th. BlackRock, Inc. (NYSE:BLK) notched a 12-month high of $471.31 while $560.00 target is by far the most aggressive out of analysts who are now evaluating BLK, $88.69 higher than the next highest 52-week price estimate.

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