TCI Wealth Advisors Inc. Has $275,000 Stock Position in BlackRock, Inc. (NYSE:BLK)

TCI Wealth Advisors Inc. cut its position in BlackRock, Inc. (NYSE:BLK) by 8.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 268 shares of the asset manager’s stock after selling 26 shares during the period. TCI Wealth Advisors Inc.’s holdings in BlackRock were worth $275,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in shares of BlackRock in the 3rd quarter valued at about $26,000. Atwood & Palmer Inc. acquired a new stake in BlackRock in the 4th quarter valued at about $36,000. West Financial Advisors LLC bought a new position in BlackRock during the fourth quarter worth about $39,000. Reston Wealth Management LLC bought a new stake in BlackRock in the third quarter valued at approximately $37,000. Finally, MFA Wealth Advisors LLC lifted its position in shares of BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the last quarter. 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 business’s stock in a transaction dated Thursday, January 30th. The stock was 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 owns 68,433 shares of the company’s stock, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,190 shares of company stock valued at $115,163,141. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BLK shares. JPMorgan Chase & Co. increased their price target on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Citigroup increased 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 report on Monday, December 23rd. Wells Fargo & Company lifted their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Evercore ISI raised their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods decreased their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Stock Up 0.4 %

Shares of NYSE BLK opened at $1,075.83 on Friday. The stock has a market capitalization of $166.62 billion, a P/E ratio of 25.62, a PEG ratio of 1.90 and a beta of 1.28. The stock’s fifty day moving average is $1,025.64 and its 200 day moving average is $960.42. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the previous year, the company earned $9.66 EPS. Sell-side 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 paid a $5.21 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. This represents a $20.84 annualized dividend and a dividend yield of 1.94%. BlackRock’s dividend payout ratio (DPR) is presently 49.62%.

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.