Tyche Wealth Partners LLC Makes New $2.30 Million Investment in BlackRock, Inc. (NYSE:BLK)

Tyche Wealth Partners LLC acquired a new position in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,836 shares of the asset manager’s stock, valued at approximately $2,302,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLK. Emerald Advisors LLC grew its position in shares of BlackRock by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after acquiring an additional 26 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of BlackRock by 1.9% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after buying an additional 21 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its stake in shares of BlackRock by 8.5% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after buying an additional 60 shares in the last quarter. Patten & Patten Inc. TN purchased a new stake in BlackRock in the 4th quarter worth approximately $205,000. Finally, Sara Bay Financial purchased a new stake in BlackRock in the 4th quarter worth approximately $387,000. 80.69% of the stock is owned by institutional investors.

BlackRock Trading Down 1.8 %

Shares of BLK traded down $13.97 during trading hours on Tuesday, reaching $749.02. 662,875 shares of the company traded hands, compared to its average volume of 627,959. The company’s fifty day moving average price is $808.48 and its two-hundred day moving average price is $754.48. The company has a market capitalization of $111.56 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 1.65 and a beta of 1.37. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the firm posted $7.93 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts predict that BlackRock, Inc. will post 41.35 earnings per share for the current fiscal year.

Insider Transactions at BlackRock

In other news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the transaction, the general counsel now owns 11,914 shares in the company, valued at $3,366,142.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Christopher J. Meade sold 3,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the transaction, the general counsel now directly owns 8,628 shares of the company’s stock, valued at $6,849,424.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,511 shares of company stock worth $71,864,028. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

BLK has been the topic of a number of research analyst reports. UBS Group increased their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. increased their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley increased their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and increased their target price for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $811.43.

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.