Pinnacle Wealth Planning Services Inc. Has $923,000 Holdings in BlackRock, Inc. (NYSE:BLK)

Pinnacle Wealth Planning Services Inc. reduced its position in BlackRock, Inc. (NYSE:BLK) by 14.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 900 shares of the asset manager’s stock after selling 150 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in BlackRock were worth $923,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BLK. Catalyst Capital Advisors LLC acquired a new position in shares of BlackRock during the 3rd quarter valued at about $96,000. Crestwood Advisors Group LLC increased its holdings in shares of BlackRock by 21.5% during the 3rd quarter. Crestwood Advisors Group LLC now owns 877 shares of the asset manager’s stock valued at $833,000 after acquiring an additional 155 shares during the last quarter. Marks Group Wealth Management Inc increased its holdings in shares of BlackRock by 21.5% during the 3rd quarter. Marks Group Wealth Management Inc now owns 2,377 shares of the asset manager’s stock valued at $2,257,000 after acquiring an additional 420 shares during the last quarter. Avidian Wealth Enterprises LLC increased its holdings in shares of BlackRock by 50.1% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 1,063 shares of the asset manager’s stock valued at $1,010,000 after acquiring an additional 355 shares during the last quarter. Finally, Catalina Capital Group LLC increased its holdings in shares of BlackRock by 2.0% during the 3rd quarter. Catalina Capital Group LLC now owns 946 shares of the asset manager’s stock valued at $898,000 after acquiring an additional 19 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the completion of the sale, the director now directly owns 68,433 shares of the company’s stock, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,620 shares of company stock worth $59,085,750 in the last 90 days. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. UBS Group increased their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Evercore ISI raised their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods lowered their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Price Performance

BlackRock stock opened at $967.48 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The company has a market capitalization of $149.84 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22. The business has a 50 day simple moving average of $998.43 and a 200 day simple moving average of $983.77.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock’s revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the company earned $9.66 EPS. On average, sell-side analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio (DPR) is 49.62%.

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.