BlackRock, Inc. (NYSE:BLK) Shares Sold by TFC Financial Management Inc.

TFC Financial Management Inc. decreased its position in BlackRock, Inc. (NYSE:BLK) by 26.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38 shares of the asset manager’s stock after selling 14 shares during the quarter. TFC Financial Management Inc.’s holdings in BlackRock were worth $39,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC lifted its holdings in shares of BlackRock by 89,389.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after purchasing an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of BlackRock by 104,468.9% in the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after purchasing an additional 791,874 shares during the last quarter. Montrusco Bolton Investments Inc. bought a new stake in shares of BlackRock in the 4th quarter worth approximately $343,976,000. Assenagon Asset Management S.A. bought a new stake in shares of BlackRock in the 4th quarter worth approximately $330,662,000. Finally, FMR LLC lifted its holdings in shares of BlackRock by 10.6% in the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after purchasing an additional 226,135 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the transaction, the director now directly owns 68,433 shares of the company’s stock, valued at $69,117,330. This represents a 12.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,190 shares of company stock valued at $115,163,141. Insiders own 0.90% of the company’s stock.

BlackRock Price Performance

BLK opened at $973.54 on Thursday. The stock has a market cap of $150.78 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.93 and a beta of 1.28. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,084.22. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average price of $1,023.22 and a 200 day moving average price of $971.96.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the firm earned $9.66 EPS. The firm’s revenue was up 22.6% compared to the same quarter last year. Analysts forecast that BlackRock, Inc. will post 47.44 EPS for the current fiscal year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is currently 48.57%.

Analysts Set New Price Targets

BLK has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Evercore ISI lifted their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Morgan Stanley lifted their target price on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Barclays decreased their target price on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, StockNews.com began coverage on BlackRock in a report on Sunday. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average 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.