TCTC Holdings LLC Has $1.43 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

TCTC Holdings LLC reduced its holdings in BlackRock, Inc. (NYSE:BLK) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,395 shares of the asset manager’s stock after selling 23 shares during the quarter. TCTC Holdings LLC’s holdings in BlackRock were worth $1,430,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. United Bank increased its position in shares of BlackRock by 1.1% during the third quarter. United Bank now owns 1,121 shares of the asset manager’s stock worth $1,064,000 after buying an additional 12 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of BlackRock during the third quarter worth $334,000. OneDigital Investment Advisors LLC increased its position in shares of BlackRock by 5.4% during the third quarter. OneDigital Investment Advisors LLC now owns 2,749 shares of the asset manager’s stock worth $2,610,000 after buying an additional 142 shares during the period. Empowered Funds LLC increased its position in shares of BlackRock by 9.2% during the third quarter. Empowered Funds LLC now owns 2,713 shares of the asset manager’s stock worth $2,576,000 after buying an additional 228 shares during the period. Finally, Natixis Advisors LLC increased its position in shares of BlackRock by 8.6% during the third quarter. Natixis Advisors LLC now owns 99,478 shares of the asset manager’s stock worth $94,455,000 after buying an additional 7,881 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were 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 owns 68,433 shares in the company, valued at $69,117,330. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 20,430 shares of company stock worth $21,234,629 over the last quarter. Insiders own 0.90% of the company’s stock.

BlackRock Stock Up 3.1 %

BlackRock stock opened at $928.74 on Monday. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,084.22. The firm has a market capitalization of $144.19 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28. The firm’s fifty day moving average price is $983.61 and its two-hundred day moving average price is $986.99. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

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

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be issued a $5.21 dividend. The ex-dividend date is Friday, March 7th. This represents a $20.84 annualized dividend and a dividend yield of 2.24%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is currently 49.62%.

Analyst Ratings Changes

Several research firms have recently weighed in on BLK. Citigroup increased their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods cut their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Barclays cut their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, StockNews.com initiated coverage on shares of BlackRock in a research note on Thursday. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

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.