BlackRock, Inc. (NYSE:BLK) Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,009 shares of the asset manager’s stock after buying an additional 813 shares during the period. Pinnacle Associates Ltd.’s holdings in BlackRock were worth $40,837,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC increased its holdings in shares of BlackRock by 5.4% in the first quarter. Miracle Mile Advisors LLC now owns 568 shares of the asset manager’s stock valued at $473,000 after purchasing an additional 29 shares during the period. Allspring Global Investments Holdings LLC raised its position in BlackRock by 60.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 29,783 shares of the asset manager’s stock worth $24,830,000 after buying an additional 11,243 shares during the last quarter. Carret Asset Management LLC lifted its stake in shares of BlackRock by 8.4% in the 1st quarter. Carret Asset Management LLC now owns 322 shares of the asset manager’s stock worth $268,000 after acquiring an additional 25 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of BlackRock by 0.6% during the first quarter. Valeo Financial Advisors LLC now owns 2,963 shares of the asset manager’s stock worth $2,471,000 after acquiring an additional 17 shares during the period. Finally, Redmont Wealth Advisors LLC purchased a new position in BlackRock during the first quarter worth about $27,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on BLK shares. Citigroup boosted their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods increased their price objective on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft raised their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Morgan Stanley increased their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $995.31.

Insider Buying and Selling at BlackRock

In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,042 shares of company stock worth $56,857,777. Insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of BLK traded up $5.33 during trading hours on Wednesday, reaching $988.50. 89,550 shares of the company traded hands, compared to its average volume of 568,855. The stock has a market capitalization of $146.89 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The stock has a fifty day simple moving average of $933.29 and a 200 day simple moving average of $847.45. BlackRock, Inc. has a fifty-two week low of $604.41 and a fifty-two week high of $1,032.00. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the company earned $10.91 EPS. As a group, research analysts predict that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

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.