Pinnacle Financial Partners Inc. raised its holdings in BlackRock, Inc. (NYSE:BLK) by 52.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,016 shares of the asset manager’s stock after acquiring an additional 348 shares during the period. Pinnacle Financial Partners Inc.’s holdings in BlackRock were worth $454,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of BLK. Salem Investment Counselors Inc. raised its holdings in BlackRock by 14.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after acquiring an additional 30 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in BlackRock by 48.9% in the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after acquiring an additional 85 shares during the last quarter. Enterprise Financial Services Corp raised its holdings in BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after acquiring an additional 85 shares during the last quarter. Penserra Capital Management LLC acquired a new position in BlackRock in the 2nd quarter valued at $104,000. Finally, Harfst & Associates Inc. raised its holdings in BlackRock by 17.3% in the 2nd quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock valued at $111,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.
Shares of BlackRock, Inc. (BLK) traded up $0.59 during trading on Thursday, reaching $512.41. 416,743 shares of the company were exchanged, compared to its average volume of 527,326. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09. BlackRock, Inc. has a 12-month low of $365.83 and a 12-month high of $516.52. The stock has a market cap of $82,109.23, a PE ratio of 23.76, a price-to-earnings-growth ratio of 1.78 and a beta of 1.81.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping analysts’ consensus estimates of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the company earned $5.14 EPS. The firm’s revenue was up 14.0% on a year-over-year basis. analysts predict that BlackRock, Inc. will post 22.3 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Monday, December 4th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $10.00 dividend on an annualized basis and a yield of 1.95%. BlackRock’s dividend payout ratio (DPR) is 46.82%.
Several research analysts have weighed in on BLK shares. Barclays started coverage on BlackRock in a report on Friday, September 8th. They issued an “overweight” rating and a $475.00 price target for the company. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a report on Tuesday, August 29th. Morgan Stanley restated an “overweight” rating and set a $501.00 price objective (up from $476.00) on shares of BlackRock in a report on Thursday, October 5th. Goldman Sachs Group upgraded BlackRock from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $440.00 to $500.00 in a report on Thursday, September 28th. Finally, J P Morgan Chase & Co upped their price objective on BlackRock to $558.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $489.08.
In related news, Director J. Richard Kushel sold 100 shares of the company’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total transaction of $48,158.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Mccombe sold 1,000 shares of the company’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total transaction of $478,990.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,200 shares of company stock valued at $2,599,302. 1.86% of the stock is owned by corporate insiders.
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BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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