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% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,520 shares of the asset manager’s stock after acquiring an additional 1,008 shares during the period. Tyche Wealth Partners LLC’s holdings in BlackRock were worth $2,584,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. State Street Corp lifted its position in BlackRock by 0.7% during the third quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock worth $5,681,472,000 after acquiring an additional 42,757 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of BlackRock by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock worth $2,663,330,000 after purchasing an additional 30,182 shares during the period. FMR LLC increased its holdings in shares of BlackRock by 10.6% during the third 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 period. Fisher Asset Management LLC increased its holdings in shares of BlackRock by 1.9% during the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock worth $2,081,561,000 after purchasing an additional 40,865 shares during the period. Finally, Pathway Financial Advisers LLC increased its holdings in shares of BlackRock by 89,389.4% during the third 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 period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction 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 sale, the director now owns 68,433 shares of the company’s stock, valued at approximately $73,403,973.12. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the sale, the chief operating officer now directly owns 41,916 shares in the company, 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. Over the last 90 days, insiders have sold 110,190 shares of company stock worth $115,163,141. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on BLK shares. StockNews.com assumed coverage on shares of BlackRock in a report on Saturday, February 1st. They set a “hold” rating on the stock. Morgan Stanley lifted their price objective 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. Barclays decreased their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Evercore ISI lifted their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Citigroup lifted their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,014.43 on Thursday. The firm has a market capitalization of $157.11 billion, a P/E ratio of 24.15, a P/E/G ratio of 2.06 and a beta of 1.28. The company’s 50 day moving average price is $1,025.92 and its two-hundred day moving average price is $966.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,084.22.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.66 earnings per share. On average, equities analysts forecast that BlackRock, Inc. will post 47.45 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, March 7th. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is 48.57%.

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.