Pineridge Advisors LLC Invests $28,000 in BlackRock, Inc. (NYSE:BLK)

Pineridge Advisors LLC bought a new position in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 35 shares of the asset manager’s stock, valued at approximately $28,000.

A number of other institutional investors have also bought and sold shares of BLK. Emerald Advisors LLC grew its position in shares of BlackRock by 2.5% during the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after purchasing an additional 26 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of BlackRock by 1.9% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after acquiring an additional 21 shares during the last quarter. Carolinas Wealth Consulting LLC grew its position in BlackRock by 25.0% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock worth $163,000 after acquiring an additional 40 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in BlackRock by 8.5% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after acquiring an additional 60 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in BlackRock during the fourth quarter valued at approximately $439,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Down 0.0 %

BLK stock traded down $0.38 during trading on Friday, hitting $769.33. 376,815 shares of the company’s stock traded hands, compared to its average volume of 554,711. The business has a fifty day simple moving average of $776.01 and a two-hundred day simple moving average of $790.39. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $114.32 billion, a P/E ratio of 19.55, a PEG ratio of 1.59 and a beta of 1.34. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $7.93 EPS. Sell-side analysts anticipate that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be paid a $5.10 dividend. The ex-dividend date is Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.65%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BLK. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. Morgan Stanley lifted their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, UBS Group boosted their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $845.42.

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.