Tyche Wealth Partners LLC Has $2.58 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Tyche Wealth Partners LLC grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 66.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,520 shares of the asset manager’s stock after purchasing an additional 1,008 shares during the period. Tyche Wealth Partners LLC’s holdings in BlackRock were worth $2,584,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Marino Stram & Associates LLC increased its holdings in BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after buying an additional 10 shares during the last quarter. Fidelity D & D Bancorp Inc. increased its holdings in BlackRock by 3.7% during the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock valued at $263,000 after buying an additional 10 shares during the last quarter. Princeton Global Asset Management LLC boosted its position in shares of BlackRock by 8.7% in the fourth quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock worth $128,000 after purchasing an additional 10 shares during the period. Onyx Bridge Wealth Group LLC boosted its position in shares of BlackRock by 3.5% in the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after purchasing an additional 11 shares during the period. Finally, Ballentine Partners LLC boosted its position 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 worth $3,251,000 after purchasing an additional 11 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE BLK opened at $1,014.43 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The business has a 50 day moving average price of $1,025.92 and a 200 day moving average price of $966.48. The company has a market capitalization of $157.11 billion, a P/E ratio of 24.15, a PEG ratio of 2.06 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.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.57 billion. During the same quarter in the previous year, the business earned $9.66 earnings per share. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. Sell-side analysts expect that BlackRock, Inc. will post 47.45 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a $5.21 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s payout ratio is currently 48.57%.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Morgan Stanley upped their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group raised their price target on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, StockNews.com initiated coverage on shares of BlackRock in a research note on Saturday, February 1st. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the completion of the sale, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,190 shares of company stock valued at $115,163,141 over the last three months. 0.90% of the stock is owned by insiders.

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.