TCTC Holdings LLC Sells 15 Shares of BlackRock, Inc. (NYSE:BLK)

TCTC Holdings LLC lessened its position in BlackRock, Inc. (NYSE:BLK) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,418 shares of the asset manager’s stock after selling 15 shares during the period. TCTC Holdings LLC’s holdings in BlackRock were worth $1,346,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairscale Capital LLC bought a new stake in shares of BlackRock in the 2nd quarter worth $31,000. Reston Wealth Management LLC purchased a new position in BlackRock in the 3rd quarter worth about $37,000. Chilton Capital Management LLC bought a new position in BlackRock during the 1st quarter valued at about $38,000. MFA Wealth Advisors LLC boosted its holdings in shares of BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the last quarter. Finally, Olistico Wealth LLC bought a new stake in shares of BlackRock in the second quarter worth approximately $53,000. Institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BLK shares. StockNews.com began coverage on shares of BlackRock in a report on Tuesday. They issued a “hold” rating on the stock. Barclays lifted their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Evercore ISI increased their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup boosted their price target on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley raised their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,004.54.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 11,061 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $852.95, for a total value of $9,434,479.95. Following the sale, the director now owns 6,480 shares in the company, valued at $5,527,116. The trade was 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. Over the last quarter, insiders sold 35,061 shares of company stock worth $30,734,840. 0.90% of the stock is owned by insiders.

BlackRock Price Performance

NYSE:BLK opened at $1,039.28 on Friday. The stock has a market cap of $153.95 billion, a PE ratio of 25.65, a P/E/G ratio of 1.78 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The business’s 50-day simple moving average is $953.10 and its two-hundred day simple moving average is $860.23. BlackRock, Inc. has a 52 week low of $650.63 and a 52 week high of $1,057.51.

BlackRock (NYSE:BLK) last posted 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. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the previous year, the firm earned $10.91 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. As a group, analysts forecast that BlackRock, Inc. will post 42.94 EPS for the current fiscal 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.