Tyche Wealth Partners LLC Decreases Stock Holdings in BlackRock (NYSE:BLK)

Tyche Wealth Partners LLC decreased its holdings in BlackRock (NYSE:BLK - Free Report) by 41.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,464 shares of the asset manager's stock after selling 1,056 shares during the quarter. Tyche Wealth Partners LLC's holdings in BlackRock were worth $1,386,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BLK. GAMMA Investing LLC raised its position in BlackRock by 104,598.9% in the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after buying an additional 3,496,740 shares during the last quarter. Norges Bank bought a new stake in shares of BlackRock during the 4th quarter valued at about $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of BlackRock by 401.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock valued at $1,122,743,000 after purchasing an additional 876,836 shares during the period. Proficio Capital Partners LLC grew its stake in shares of BlackRock by 138,682.5% during the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock valued at $634,000 after purchasing an additional 633,779 shares during the period. Finally, Envestnet Asset Management Inc. bought a new stake in shares of BlackRock during the 4th quarter valued at about $572,730,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BLK shares. Wall Street Zen upgraded BlackRock to a "hold" rating in a research note on Saturday, May 24th. Bank of America cut their price objective on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Morgan Stanley decreased their target price on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Citigroup dropped their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, TD Cowen dropped their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, BlackRock has an average rating of "Moderate Buy" and an average target price of $1,096.31.

BlackRock Stock Up 1.8%

Shares of BlackRock stock opened at $1,004.50 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,084.22. The firm's 50-day moving average is $952.76 and its two-hundred day moving average is $969.25. The stock has a market cap of $155.62 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 2.99 and a beta of 1.41.

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

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Thursday, June 5th. BlackRock's dividend payout ratio is currently 50.63%.

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the sale, the director now directly owns 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.98% of the company's stock.

About BlackRock

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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