PNC Financial Services Group Inc. Has $332.69 Million Position in BlackRock, Inc. (NYSE:BLK)

PNC Financial Services Group Inc. grew its stake in BlackRock, Inc. (NYSE:BLK - Free Report) by 0.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 324,542 shares of the asset manager's stock after buying an additional 450 shares during the quarter. PNC Financial Services Group Inc. owned 0.21% of BlackRock worth $332,691,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BLK. Oddo BHF Asset Management Sas bought a new stake in shares of BlackRock in the third quarter worth $518,000. Amalgamated Bank lifted its position in shares of BlackRock by 1.7% in the fourth quarter. Amalgamated Bank now owns 28,711 shares of the asset manager's stock worth $29,432,000 after purchasing an additional 489 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of BlackRock by 4.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager's stock worth $12,793,000 after purchasing an additional 578 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of BlackRock in the third quarter worth $32,904,000. Finally, Raymond James Trust N.A. lifted its position in shares of BlackRock by 2.3% in the third quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager's stock worth $25,724,000 after purchasing an additional 614 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on BLK. Wells Fargo & Company upped their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Citigroup upped their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Monday, December 23rd. StockNews.com began coverage on shares of BlackRock in a research report on Wednesday. They set a "hold" rating on the stock. Barclays dropped their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,120.67.

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BlackRock Stock Performance

Shares of BLK traded down $11.69 during trading hours on Friday, hitting $947.96. The company had a trading volume of 1,180,772 shares, compared to its average volume of 848,172. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The business has a fifty day moving average of $994.60 and a 200-day moving average of $985.00. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,084.22. The firm has a market cap of $146.82 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the company posted $9.66 earnings per share. BlackRock's revenue was up 22.6% compared to the same quarter last year. Equities analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be paid a $5.21 dividend. The ex-dividend date is Friday, March 7th. This is an increase from BlackRock's previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.20%. BlackRock's dividend payout ratio is 49.62%.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 430 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $949.37, for a total transaction of $408,229.10. Following the sale, the director now directly owns 3,720 shares in the company, valued at $3,531,656.40. This represents a 10.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 20,430 shares of company stock worth $21,234,629. 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.