TCI Wealth Advisors Inc. Makes New Investment in BlackRock, Inc. (NYSE:BLK)

TCI Wealth Advisors Inc. acquired a new position in BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 291 shares of the asset manager’s stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors have also bought and sold shares of BLK. Morgan Stanley raised its stake in shares of BlackRock by 3.2% in the third quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after buying an additional 104,844 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of BlackRock by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock valued at $2,148,586,000 after buying an additional 35,161 shares during the period. FMR LLC raised its stake in shares of BlackRock by 22.0% in the third quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after buying an additional 379,631 shares during the period. Fisher Asset Management LLC raised its stake in shares of BlackRock by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,015,535 shares of the asset manager’s stock valued at $1,636,212,000 after buying an additional 47,326 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of BlackRock by 21.4% in the third quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock valued at $1,128,544,000 after buying an additional 307,516 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on BLK shares. JPMorgan Chase & Co. boosted their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. UBS Group upped their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, Morgan Stanley upped their target price on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $845.42.

BlackRock Trading Up 1.2 %

BLK stock traded up $8.92 during trading on Monday, hitting $772.83. 307,390 shares of the company traded hands, compared to its average volume of 617,319. The firm has a market capitalization of $115.11 billion, a PE ratio of 19.52, a P/E/G ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. The company has a 50-day moving average of $797.35 and a 200-day moving average of $766.29. 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 (NYSE:BLK) last released its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the business posted $7.93 EPS. The business’s revenue was up 11.4% on a year-over-year basis. Analysts predict that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insider Transactions at BlackRock

In other news, General Counsel Christopher J. Meade sold 3,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the completion of the transaction, the general counsel now directly owns 8,628 shares of the company’s stock, valued at $6,849,424.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the sale, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Christopher J. Meade sold 3,100 shares of BlackRock stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the transaction, the general counsel now owns 8,628 shares in the company, valued at approximately $6,849,424.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,087 shares of company stock valued at $57,814,366. Corporate insiders own 0.90% of the company’s stock.

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.