TCI Wealth Advisors Inc. Sells 21 Shares of BlackRock, Inc. (NYSE:BLK)

TCI Wealth Advisors Inc. cut its stake in BlackRock, Inc. (NYSE:BLKFree Report) by 7.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 270 shares of the asset manager’s stock after selling 21 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in BlackRock were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Emerald Advisors LLC boosted its holdings in shares of BlackRock by 2.5% in the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock worth $851,000 after buying an additional 26 shares during the last quarter. Carolinas Wealth Consulting LLC lifted its holdings in BlackRock by 25.0% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 40 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its holdings in BlackRock by 8.5% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after purchasing an additional 60 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in BlackRock during the fourth quarter valued at approximately $439,000. Finally, Patten & Patten Inc. TN purchased a new position in BlackRock during the fourth quarter valued at approximately $205,000. 80.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Morgan Stanley lowered their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday. UBS Group lowered their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $915.00 target price on shares of BlackRock in a report on Tuesday, July 2nd. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, TD Cowen lowered their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $847.36.

Get Our Latest Stock Analysis on BlackRock

Insider Activity

In other news, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.4 %

BLK stock traded up $3.69 during mid-day trading on Monday, reaching $831.66. 384,002 shares of the stock traded hands, compared to its average volume of 597,190. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00. The stock has a market capitalization of $123.58 billion, a PE ratio of 21.04, a PEG ratio of 1.71 and a beta of 1.32. The business has a 50-day moving average price of $787.33 and a two-hundred day moving average price of $792.86.

BlackRock (NYSE:BLKGet Free Report) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the previous year, the business posted $9.28 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. Equities research analysts expect that BlackRock, Inc. will post 41.21 EPS for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Friday, June 7th. BlackRock’s dividend payout ratio is currently 51.84%.

About BlackRock

(Free Report)

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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