BlackRock, Inc. (NYSE:BLK) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its holdings in BlackRock, Inc. (NYSE:BLK) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 324,092 shares of the asset manager’s stock after purchasing an additional 4,082 shares during the quarter. PNC Financial Services Group Inc.’s holdings in BlackRock were worth $307,729,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Axxcess Wealth Management LLC grew its stake in shares of BlackRock by 35.8% in the first 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 raised its position in BlackRock by 219.5% in the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after purchasing an additional 30,274 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 during the period. Aptus Capital Advisors LLC raised its holdings in BlackRock by 20.8% in the third quarter. Aptus Capital Advisors LLC now owns 21,333 shares of the asset manager’s stock valued at $20,256,000 after acquiring an additional 3,675 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC lifted its position 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 purchasing an additional 3,511 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on BLK. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com initiated coverage on BlackRock in a research report on Wednesday, November 13th. They set a “hold” rating for the company. TD Cowen boosted their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Morgan Stanley increased their price target on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company increased their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Price Performance

BLK opened at $1,049.97 on Tuesday. The company has a 50 day moving average of $972.48 and a two-hundred day moving average of $873.69. BlackRock, Inc. has a 52-week low of $712.11 and a 52-week high of $1,068.34. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market cap of $162.62 billion, a P/E ratio of 25.91, a P/E/G ratio of 1.87 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the company posted $10.91 earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. On average, analysts expect that BlackRock, Inc. will post 43.17 earnings per share for the current year.

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.