Pinnacle Wealth Management Advisory Group LLC lifted its stake in BlackRock, Inc. (NYSE:BLK – Free Report) by 0.4% during the fourth quarter, HoldingsChannel reports. The firm owned 6,316 shares of the asset manager’s stock after purchasing an additional 23 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in BlackRock were worth $6,475,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in BLK. Creative Planning grew its holdings in shares of BlackRock by 6.2% in the third quarter. Creative Planning now owns 23,217 shares of the asset manager’s stock worth $22,044,000 after purchasing an additional 1,353 shares during the last quarter. Good Life Advisors LLC grew its holdings in BlackRock by 50.0% during the 3rd quarter. Good Life Advisors LLC now owns 816 shares of the asset manager’s stock worth $775,000 after acquiring an additional 272 shares in the last quarter. Onyx Bridge Wealth Group LLC grew its holdings in BlackRock by 3.5% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after acquiring an additional 11 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its holdings in BlackRock by 12.7% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 310 shares of the asset manager’s stock worth $294,000 after acquiring an additional 35 shares in the last quarter. Finally, Mogy Joel R Investment Counsel Inc. grew its holdings in BlackRock by 2.5% during the 3rd quarter. Mogy Joel R Investment Counsel Inc. now owns 15,158 shares of the asset manager’s stock worth $14,393,000 after acquiring an additional 370 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.
Insider Transactions at BlackRock
In other news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the sale, the director now owns 68,433 shares of the company’s stock, valued at $69,117,330. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,190 shares of company stock valued at $115,163,141 in the last 90 days. 0.90% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Check Out Our Latest Stock Report on BlackRock
BlackRock Stock Performance
BLK opened at $973.22 on Friday. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $150.73 billion, a PE ratio of 23.17, a P/E/G ratio of 1.93 and a beta of 1.28. The firm has a 50 day moving average of $1,019.28 and a two-hundred day moving average of $972.80.
BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the firm posted $9.66 EPS. On average, analysts anticipate that BlackRock, Inc. will post 47.44 EPS for the current year.
BlackRock Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be paid a dividend of $5.21 per share. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.14%. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.
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.
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