Pinnacle Bancorp Inc. Purchases 50 Shares of BlackRock, Inc. (NYSE:BLK)

Pinnacle Bancorp Inc. raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 5.4% during the third quarter, HoldingsChannel.com reports. The firm owned 984 shares of the asset manager’s stock after acquiring an additional 50 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in BlackRock were worth $934,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BLK. Concentric Wealth Management LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at approximately $219,000. Comerica Bank raised its holdings in BlackRock by 7.6% in the fourth quarter. Comerica Bank now owns 55,699 shares of the asset manager’s stock worth $45,217,000 after purchasing an additional 3,915 shares during the period. Bragg Financial Advisors Inc boosted its position in shares of BlackRock by 11.3% during the fourth quarter. Bragg Financial Advisors Inc now owns 9,587 shares of the asset manager’s stock worth $7,783,000 after purchasing an additional 977 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of BlackRock by 9.9% in the 4th quarter. Baird Financial Group Inc. now owns 204,888 shares of the asset manager’s stock valued at $166,328,000 after buying an additional 18,464 shares during the period. Finally, Okabena Investment Services Inc. increased its position in shares of BlackRock by 150.9% in the 4th quarter. Okabena Investment Services Inc. now owns 1,453 shares of the asset manager’s stock valued at $1,180,000 after buying an additional 874 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In related news, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is owned by company insiders.

BlackRock Stock Performance

BLK opened at $955.57 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The business’s 50-day simple moving average is $894.70 and its 200 day simple moving average is $829.20. The firm has a market capitalization of $141.55 billion, a PE ratio of 23.72, a PEG ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $963.33.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the firm posted $9.28 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.13%. BlackRock’s dividend payout ratio is presently 50.65%.

Analysts Set New Price Targets

Several brokerages have issued reports on BLK. The Goldman Sachs Group increased 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. Citigroup raised their target price on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. StockNews.com started coverage on shares of BlackRock in a report on Friday, October 4th. They issued a “hold” rating for the company. UBS Group dropped their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, TD Cowen upped their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $972.23.

BlackRock Company 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.