PNC Financial Services Group Inc. Acquires 4,082 Shares of BlackRock, Inc. (NYSE:BLK)

PNC Financial Services Group Inc. boosted its holdings in BlackRock, Inc. (NYSE:BLK - Free Report) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 324,092 shares of the asset manager's stock after acquiring an additional 4,082 shares during the period. PNC Financial Services Group Inc. owned 0.22% of BlackRock worth $307,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BLK. Pathway Financial Advisers LLC lifted its position in 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 acquiring an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of BlackRock by 104,468.9% during the third 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. Capital Research Global Investors lifted its holdings in BlackRock by 11.1% during the 1st 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 last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in BlackRock in the 3rd quarter valued at $115,377,000. Finally, Sarasin & Partners LLP grew its holdings in BlackRock by 174.8% in the 2nd quarter. Sarasin & Partners LLP now owns 184,291 shares of the asset manager's stock valued at $145,096,000 after buying an additional 117,218 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Price Performance

BlackRock stock traded down $21.59 during midday trading on Tuesday, reaching $1,028.38. The company's stock had a trading volume of 673,495 shares, compared to its average volume of 575,065. The stock has a market cap of $159.28 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 1.87 and a beta of 1.30. 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 business has a 50-day moving average price of $972.48 and a 200-day moving average price of $873.69. BlackRock, Inc. has a 52 week low of $712.11 and a 52 week high of $1,068.34.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts' consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business's revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the firm posted $10.91 earnings per share. On average, sell-side analysts predict that BlackRock, Inc. will post 43.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays lifted their target price on BlackRock from $1,010.00 to $1,120.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Morgan Stanley boosted their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an "overweight" rating in a report on Monday, October 14th. StockNews.com initiated coverage on shares of BlackRock in a report on Wednesday, November 13th. They set a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $1,105.00 to $1,133.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Finally, TD Cowen raised their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,019.62.

Insider Transactions at BlackRock

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 value 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.90% of the company's stock.

BlackRock Company 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.