PNC Financial Services Group Inc. Acquires 4,082 Shares of BlackRock, Inc. (NYSE:BLK)

PNC Financial Services Group Inc. increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 324,092 shares of the asset manager’s stock after purchasing an additional 4,082 shares during the period. PNC Financial Services Group Inc. owned 0.22% of BlackRock worth $307,729,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Axxcess Wealth Management LLC raised its position in shares of BlackRock by 35.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after acquiring an additional 1,248 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of BlackRock by 219.5% during the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after buying an additional 30,274 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of BlackRock by 62.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock valued at $1,804,000 after buying an additional 884 shares in the last quarter. Aptus Capital Advisors LLC grew its position in shares of BlackRock by 20.8% in the 3rd quarter. Aptus Capital Advisors LLC now owns 21,333 shares of the asset manager’s stock worth $20,256,000 after buying an additional 3,675 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC raised its stake in shares of BlackRock by 16.9% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 24,265 shares of the asset manager’s stock worth $23,040,000 after acquiring an additional 3,511 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Up 0.2 %

BLK stock opened at $1,049.97 on Tuesday. The company has a market cap of $162.62 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.87 and a beta of 1.30. The firm has a 50-day moving average of $972.48 and a two-hundred day moving average of $873.69. BlackRock, Inc. has a 12 month low of $712.11 and a 12 month high of $1,068.34. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business earned $10.91 EPS. As a group, analysts forecast that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BLK has been the subject of several recent analyst reports. Evercore ISI raised their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Morgan Stanley upped their target price on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group raised their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company upped their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, StockNews.com began coverage on BlackRock in a research note on Wednesday, November 13th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,019.62.

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.