BlackRock $BLK Shares Purchased by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of BlackRock (NYSE:BLK) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,654 shares of the asset manager’s stock after buying an additional 61 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in BlackRock were worth $6,982,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. Securian Asset Management Inc. purchased a new position in shares of BlackRock during the first quarter worth about $7,331,000. Prudent Man Advisors LLC acquired a new stake in shares of BlackRock in the 1st quarter valued at about $2,018,000. Allianz SE boosted its position in shares of BlackRock by 2.6% in the 1st quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock valued at $10,435,000 after purchasing an additional 277 shares during the period. Arizona State Retirement System purchased a new position in BlackRock during the 1st quarter worth approximately $40,868,000. Finally, Opus Investment Management Inc. acquired a new position in BlackRock during the first quarter worth approximately $1,420,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the transaction, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the subject of several research analyst reports. TD Cowen increased their price objective on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Zacks Research cut shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. The Goldman Sachs Group raised their price objective on shares of BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Wells Fargo & Company dropped their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. Finally, BMO Capital Markets increased their target price on shares of BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,303.41.

BlackRock Stock Up 1.1%

BLK stock opened at $1,081.66 on Friday. The stock has a market capitalization of $167.50 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. The company has a fifty day moving average of $1,130.62 and a 200-day moving average of $1,069.28. 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 one year low of $773.74 and a one year high of $1,219.94.

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

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.