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

TCTC Holdings LLC decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 1.0% in the third quarter, Holdings Channel reports. The fund owned 1,418 shares of the asset manager’s stock after selling 15 shares during the quarter. TCTC Holdings LLC’s holdings in BlackRock were worth $1,346,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marino Stram & Associates LLC boosted its holdings in shares of BlackRock by 0.3% in the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after purchasing an additional 10 shares during the period. Onyx Bridge Wealth Group LLC increased its position in BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after acquiring an additional 11 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of BlackRock by 0.3% in the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after acquiring an additional 11 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of BlackRock by 0.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after acquiring an additional 11 shares during the last quarter. Finally, XML Financial LLC boosted its stake in shares of BlackRock by 2.6% during the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after purchasing an additional 12 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 11,061 shares of the firm’s stock in a transaction dated 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 directly owns 6,480 shares in the company, valued at approximately $5,527,116. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 35,061 shares of company stock worth $30,734,840. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Performance

Shares of BLK stock opened at $1,039.28 on Friday. The firm has a market cap of $153.95 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.78 and a beta of 1.30. BlackRock, Inc. has a 52-week low of $650.63 and a 52-week high of $1,057.51. 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 company’s 50 day moving average is $953.10 and its 200 day moving average is $860.23.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the business posted $10.91 EPS. On average, sell-side analysts anticipate that BlackRock, Inc. will post 42.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Evercore ISI increased their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley boosted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen increased their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $1,004.54.

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.