TCTC Holdings LLC Has $1.43 Million Position in BlackRock, Inc. (NYSE:BLK)

TCTC Holdings LLC decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,395 shares of the asset manager’s stock after selling 23 shares during the quarter. TCTC Holdings LLC’s holdings in BlackRock were worth $1,430,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BLK. SouthState Corp boosted its holdings in shares of BlackRock by 10.1% during the 4th quarter. SouthState Corp now owns 1,377 shares of the asset manager’s stock worth $1,412,000 after buying an additional 126 shares during the period. Addison Capital Co boosted its holdings in shares of BlackRock by 1.4% during the 4th quarter. Addison Capital Co now owns 3,405 shares of the asset manager’s stock worth $3,490,000 after buying an additional 46 shares during the period. Gray Wealth Management Inc. bought a new stake in shares of BlackRock during the 4th quarter worth about $397,000. Gold Investment Management Ltd. boosted its holdings in shares of BlackRock by 1.0% during the 4th quarter. Gold Investment Management Ltd. now owns 2,192 shares of the asset manager’s stock worth $2,247,000 after buying an additional 22 shares during the period. Finally, Signature Wealth Management Group boosted its holdings in shares of BlackRock by 3.9% during the 4th quarter. Signature Wealth Management Group now owns 2,313 shares of the asset manager’s stock worth $2,371,000 after buying an additional 86 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BlackRock stock opened at $928.74 on Monday. The company has a 50 day moving average of $983.61 and a 200-day moving average of $986.99. 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 company has a market cap of $144.19 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.66 EPS. As a group, equities research analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business 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 dividend on an annualized basis and a yield of 2.24%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio is currently 49.62%.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the completion of the transaction, the director now directly owns 68,433 shares in the company, valued at $73,403,973.12. This represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 20,430 shares of company stock worth $21,234,629 in the last three months. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BLK has been the subject of several research analyst reports. Keefe, Bruyette & Woods reduced their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Barclays reduced their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Wells Fargo & Company boosted their price objective on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. StockNews.com started coverage on shares of BlackRock in a report on Thursday. They issued a “hold” rating for the company. Finally, Morgan Stanley boosted their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

About BlackRock

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.