TCV Trust & Wealth Management Inc. Invests $18.58 Million in BlackRock (NYSE:BLK)

TCV Trust & Wealth Management Inc. acquired a new position in shares of BlackRock (NYSE:BLK - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 19,633 shares of the asset manager's stock, valued at approximately $18,582,000. BlackRock accounts for about 1.7% of TCV Trust & Wealth Management Inc.'s holdings, making the stock its 14th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mascoma Wealth Management LLC increased its holdings in shares of BlackRock by 9.5% in the 4th quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock valued at $130,000 after acquiring an additional 11 shares during the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of BlackRock by 2.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock valued at $542,000 after acquiring an additional 11 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of BlackRock by 4.5% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock valued at $263,000 after acquiring an additional 11 shares during the last quarter. Truvestments Capital LLC increased its holdings in shares of BlackRock by 10.8% in the 4th quarter. Truvestments Capital LLC now owns 123 shares of the asset manager's stock valued at $126,000 after acquiring an additional 12 shares during the last quarter. Finally, Prestige Wealth Management Group LLC increased its holdings in shares of BlackRock by 3.1% in the 4th quarter. Prestige Wealth Management Group LLC now owns 399 shares of the asset manager's stock valued at $409,000 after acquiring an additional 12 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLK has been the topic of a number of recent analyst reports. TD Cowen dropped their price objective on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley cut their price target on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Citigroup cut their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Bank of America cut their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. lowered their target price on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and a consensus price target of $1,102.08.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now directly owns 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.98% of the stock is currently owned by insiders.

BlackRock Stock Up 1.8%

BLK opened at $1,049.35 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The business has a 50 day simple moving average of $962.39 and a 200-day simple moving average of $969.42. The stock has a market capitalization of $162.58 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.13 and a beta of 1.41. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $9.81 EPS. On average, equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were issued a dividend of $5.21 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 1.99%. BlackRock's dividend payout ratio is presently 50.63%.

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.

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