Tennessee Valley Asset Management Partners Buys Shares of 34 BlackRock, Inc. (NYSE:BLK)

Tennessee Valley Asset Management Partners bought a new stake in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 34 shares of the asset manager’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley grew its holdings in shares of BlackRock by 3.2% during the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock worth $2,178,048,000 after purchasing an additional 104,844 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of BlackRock by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock worth $2,148,586,000 after purchasing an additional 35,161 shares in the last quarter. FMR LLC grew its holdings in shares of BlackRock by 22.0% during the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock worth $1,361,064,000 after purchasing an additional 379,631 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of BlackRock by 21.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,745,648 shares of the asset manager’s stock worth $1,128,544,000 after purchasing an additional 307,516 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of BlackRock by 5.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,568,890 shares of the asset manager’s stock worth $1,014,287,000 after purchasing an additional 74,974 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Down 0.5 %

Shares of BLK opened at $762.51 on Thursday. The stock has a fifty day moving average price of $803.50 and a two-hundred day moving average price of $759.33. 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 52-week low of $596.18 and a 52-week high of $845.00. The company has a market cap of $113.57 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.57 and a beta of 1.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.93 EPS. Analysts predict that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was 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 owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was 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 owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the sale, the director now owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. Insiders sold a total of 82,511 shares of company stock worth $66,778,367 over the last 90 days. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. JPMorgan Chase & Co. raised their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group raised their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

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.