Pinnacle Financial Partners Inc Increases Stock Position in BlackRock, Inc. (NYSE:BLK)

Pinnacle Financial Partners Inc increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 24,297 shares of the asset manager’s stock after buying an additional 53 shares during the period. Pinnacle Financial Partners Inc’s holdings in BlackRock were worth $23,070,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its position in shares of BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after buying an additional 1,044,962 shares in the last quarter. International Assets Investment Management LLC increased 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 valued at $7,526,120,000 after acquiring an additional 791,874 shares during the period. Capital Research Global Investors lifted its position in BlackRock by 11.1% in the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after purchasing an additional 435,358 shares during the period. Vanguard Group Inc. lifted its stake in BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares during the last quarter. Finally, M&G Plc purchased a new position in BlackRock in the 1st quarter worth about $161,918,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $875.03, for a total value of $10,500,360.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,670,194.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays lifted their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Argus boosted their target price on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. The Goldman Sachs Group lifted their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Citigroup raised their target price on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Price Performance

BlackRock stock opened at $1,036.09 on Wednesday. BlackRock, Inc. has a 52-week low of $658.14 and a 52-week high of $1,068.34. The company’s 50 day moving average is $959.13 and its two-hundred day moving average is $865.58. 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 firm has a market cap of $153.48 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 1.88 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, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the firm earned $10.91 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, research analysts expect that BlackRock, Inc. will post 43.16 EPS for the current fiscal 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.