Pines Wealth Management LLC Acquires New Shares in BlackRock, Inc. (NYSE:BLK)

Pines Wealth Management LLC bought a new position in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 245 shares of the asset manager’s stock, valued at approximately $234,000.

Several other hedge funds have also recently modified their holdings of BLK. Pathway Financial Advisers LLC grew its stake in shares of BlackRock by 89,389.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after acquiring an additional 1,044,962 shares during the period. International Assets Investment Management LLC grew its position in BlackRock by 104,468.9% in the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after purchasing an additional 791,874 shares during the period. FMR LLC raised its stake in BlackRock by 10.6% during the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after buying an additional 226,135 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of BlackRock during the 3rd quarter valued at $115,377,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of BlackRock by 48.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 337,172 shares of the asset manager’s stock worth $320,148,000 after buying an additional 109,771 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BLK. Citigroup increased their target price on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. TD Cowen raised their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. The Goldman Sachs Group upped their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. StockNews.com assumed coverage on shares of BlackRock in a research note on Thursday. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. upped their price objective on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,088.67.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The transaction 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 the business’s stock in a transaction dated Thursday, December 5th. The stock was 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 owns 41,916 shares in the company, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Up 5.1 %

NYSE BLK opened at $1,012.62 on Thursday. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,082.45. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market cap of $156.83 billion, a PE ratio of 24.99, a P/E/G ratio of 1.92 and a beta of 1.28. The stock’s 50 day moving average is $1,029.20 and its 200 day moving average is $943.81.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. BlackRock’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.66 earnings per share. Research analysts predict that BlackRock, Inc. will post 43.18 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were issued a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 2.01%. BlackRock’s dividend payout ratio (DPR) is 50.35%.

About BlackRock

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.