Pittenger & Anderson Inc. Has $29.43 Million Holdings in BlackRock $BLK

Pittenger & Anderson Inc. boosted its holdings in shares of BlackRock (NYSE:BLK) by 0.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,045 shares of the asset manager’s stock after acquiring an additional 62 shares during the quarter. BlackRock accounts for about 1.1% of Pittenger & Anderson Inc.’s investment portfolio, making the stock its 22nd largest holding. Pittenger & Anderson Inc.’s holdings in BlackRock were worth $29,426,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BLK. Brighton Jones LLC lifted its holdings in shares of BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after buying an additional 296 shares during the last quarter. Bison Wealth LLC lifted its holdings in shares of BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after buying an additional 17 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of BlackRock by 10.6% during the 1st quarter. GAMMA Investing LLC now owns 3,698 shares of the asset manager’s stock valued at $3,500,000 after buying an additional 355 shares during the last quarter. Advisor Resource Council acquired a new stake in shares of BlackRock during the 1st quarter valued at about $542,000. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of BlackRock by 4.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,171 shares of the asset manager’s stock valued at $18,145,000 after buying an additional 774 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Down 0.1%

Shares of BLK stock opened at $1,160.01 on Tuesday. The stock’s 50 day simple moving average is $1,141.48 and its 200 day simple moving average is $1,046.27. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a market capitalization of $179.63 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 2.01 and a beta of 1.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The firm’s revenue was up 25.2% on a year-over-year basis. During the same period in the previous year, the business posted $11.46 earnings per share. As a group, research analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock’s payout ratio is currently 53.59%.

Analyst Upgrades and Downgrades

BLK has been the subject of several research reports. BNP Paribas Exane lifted their price target on BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of BlackRock in a report on Wednesday, October 8th. Barclays lifted their price target on BlackRock from $1,310.00 to $1,360.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods raised their price objective on BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Finally, The Goldman Sachs Group raised their price objective on BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,300.81.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the transaction, the director directly owned 61,369 shares of the company’s stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the completion of the transaction, the chief executive officer directly owned 263,751 shares in the company, valued at approximately $296,002,472.28. This represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,494 shares of company stock valued at $74,694,573. Corporate 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.