TCTC Holdings LLC Has $1.14 Million Stake in BlackRock (NYSE:BLK)

TCTC Holdings LLC lessened its position in BlackRock (NYSE:BLK) by 13.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,207 shares of the asset manager’s stock after selling 188 shares during the quarter. TCTC Holdings LLC’s holdings in BlackRock were worth $1,142,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors raised its holdings in BlackRock by 2.3% during the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock worth $4,200,450,000 after acquiring an additional 93,844 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of BlackRock by 104,598.9% during the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock worth $3,312,759,000 after purchasing an additional 3,496,740 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of BlackRock by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager’s stock valued at $3,072,787,000 after buying an additional 190,188 shares during the last quarter. FMR LLC boosted its holdings in shares of BlackRock by 1.1% in the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager’s stock valued at $2,450,475,000 after buying an additional 26,485 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of BlackRock by 18.6% in the fourth quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager’s stock valued at $2,152,907,000 after buying an additional 329,244 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Down 0.5%

NYSE:BLK opened at $1,117.60 on Tuesday. BlackRock has a one year low of $773.74 and a one year high of $1,130.66. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The company has a market cap of $173.15 billion, a PE ratio of 27.02, a P/E/G ratio of 2.27 and a beta of 1.41. The firm’s 50 day simple moving average is $1,030.13 and its 200 day simple moving average is $977.80.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company earned $10.36 EPS. BlackRock’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, research analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.86%. BlackRock’s dividend payout ratio (DPR) is currently 50.39%.

Insider Buying and Selling at BlackRock

In related news, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the sale, the director owned 19,205 shares of the company’s stock, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the transaction, the director owned 3,506 shares in the company, valued at $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,352 shares of company stock valued at $55,486,962. 1.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen upgraded BlackRock to a “hold” rating in a research note on Saturday, May 24th. Argus restated a “buy” rating on shares of BlackRock in a research note on Tuesday, July 8th. TD Cowen reduced their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Morgan Stanley decreased their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating on the stock in a report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods cut their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,151.21.

BlackRock 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.