Tennessee Valley Asset Management Partners Takes Position in BlackRock, Inc. (NYSE:BLK)

Tennessee Valley Asset Management Partners bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, Holdings Channel reports. The firm bought 34 shares of the asset manager’s stock, valued at approximately $27,000.

Other large investors have also recently made changes to their positions in the company. Nikulski Financial Inc. increased its position in shares of BlackRock by 6.8% during the third quarter. Nikulski Financial Inc. now owns 314 shares of the asset manager’s stock valued at $203,000 after acquiring an additional 20 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of BlackRock by 671.4% during the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 47 shares in the last quarter. Private Trust Co. NA grew its position in BlackRock by 1.6% in the 3rd quarter. Private Trust Co. NA now owns 1,118 shares of the asset manager’s stock worth $722,000 after purchasing an additional 18 shares during the period. Caprock Group LLC grew its position in BlackRock by 2.8% in the 3rd quarter. Caprock Group LLC now owns 1,924 shares of the asset manager’s stock worth $1,244,000 after purchasing an additional 53 shares during the period. Finally, Culbertson A N & Co. Inc. grew its position in BlackRock by 1.0% in the 3rd quarter. Culbertson A N & Co. Inc. now owns 2,070 shares of the asset manager’s stock worth $1,338,000 after purchasing an additional 20 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BlackRock news, General Counsel Christopher J. Meade sold 3,100 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total value of $2,460,966.00. Following the sale, the general counsel now owns 8,628 shares in the company, valued at approximately $6,849,424.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director J. Richard Kushel sold 3,418 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $781.11, for a total value of $2,669,833.98. Following the sale, the director now directly owns 70,378 shares in the company, valued at approximately $54,972,959.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Christopher J. Meade sold 3,100 shares of the business’s stock in a transaction dated 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 completion of the sale, the general counsel now owns 8,628 shares in the company, valued at $6,849,424.08. The disclosure for this sale can be found here. Insiders have sold a total of 82,511 shares of company stock worth $66,778,367 in the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Stock Down 0.5 %

BLK opened at $762.51 on Thursday. 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 fifty-two week low of $596.18 and a fifty-two week high of $845.00. The firm’s fifty day moving average is $803.50 and its 200 day moving average is $759.33. The stock has a market cap of $113.57 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.93 EPS. On average, sell-side analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.