Tyche Wealth Partners LLC Buys Shares of 2,836 BlackRock, Inc. (NYSE:BLK)

Tyche Wealth Partners LLC purchased a new stake in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, Holdings Channel reports. The firm purchased 2,836 shares of the asset manager’s stock, valued at approximately $2,302,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Emerald Advisors LLC increased its position in shares of BlackRock by 2.5% during the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock worth $851,000 after purchasing an additional 26 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of BlackRock by 1.9% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock worth $712,000 after purchasing an additional 21 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its position in shares of BlackRock by 8.5% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after purchasing an additional 60 shares in the last quarter. Patten & Patten Inc. TN acquired a new position in shares of BlackRock during the fourth quarter worth $205,000. Finally, Sara Bay Financial acquired a new position in shares of BlackRock during the fourth quarter worth $387,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Trading Down 1.8 %

Shares of NYSE BLK traded down $13.97 during midday trading on Tuesday, reaching $749.02. 662,875 shares of the stock were exchanged, compared to its average volume of 627,959. The company has a 50 day simple moving average of $808.48 and a 200 day simple moving average of $754.48. The stock has a market capitalization of $111.56 billion, a P/E ratio of 19.24, a PEG ratio of 1.65 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $7.93 EPS. As a group, equities analysts expect that BlackRock, Inc. will post 41.35 earnings per share for the current year.

Insider Transactions at BlackRock

In related news, General Counsel Christopher J. Meade sold 18,000 shares of the 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 owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Christopher J. Meade sold 18,000 shares of the 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 owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen Cohen sold 950 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the transaction, the director now directly owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The disclosure for this sale can be found here. Insiders sold 100,511 shares of company stock worth $71,864,028 in the last 90 days. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

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

BlackRock 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.