Pinnacle Wealth Management Advisory Group LLC Decreases Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Pinnacle Wealth Management Advisory Group LLC lowered its holdings in BlackRock, Inc. (NYSE:BLK) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,259 shares of the asset manager’s stock after selling 166 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in BlackRock were worth $5,081,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. National Pension Service boosted its stake in BlackRock by 2.0% in the fourth quarter. National Pension Service now owns 244,701 shares of the asset manager’s stock valued at $198,648,000 after acquiring an additional 4,889 shares during the last quarter. Evexia Wealth LLC boosted its stake in BlackRock by 1.6% in the fourth quarter. Evexia Wealth LLC now owns 14,428 shares of the asset manager’s stock valued at $11,369,000 after acquiring an additional 228 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of BlackRock during the 4th quarter valued at approximately $122,000. Hyman Charles D lifted its stake in shares of BlackRock by 2.9% during the 4th quarter. Hyman Charles D now owns 1,488 shares of the asset manager’s stock valued at $1,208,000 after buying an additional 42 shares in the last quarter. Finally, Everpar Advisors LLC purchased a new stake in shares of BlackRock during the 4th quarter valued at approximately $574,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of NYSE:BLK traded up $10.15 during midday trading on Thursday, hitting $788.48. The company’s stock had a trading volume of 244,574 shares, compared to its average volume of 617,197. The business’s 50 day simple moving average is $796.34 and its 200 day simple moving average is $768.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. The company has a market cap of $117.44 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other BlackRock news, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen Cohen sold 950 shares of BlackRock stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $805.55, for a total transaction of $765,272.50. Following the sale, the director now owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,987 shares of company stock worth $55,353,400. Insiders own 0.90% of the company’s stock.

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.