Pines Wealth Management LLC Invests $234,000 in BlackRock, Inc. (NYSE:BLK)

Pines Wealth Management LLC bought a new stake in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 245 shares of the asset manager’s stock, valued at approximately $234,000.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in BlackRock by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 397,641 shares of the asset manager’s stock worth $313,063,000 after buying an additional 20,692 shares in the last quarter. One Capital Management LLC boosted its stake in shares of BlackRock by 31.7% in the 2nd quarter. One Capital Management LLC now owns 324 shares of the asset manager’s stock valued at $255,000 after purchasing an additional 78 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of BlackRock during the 2nd quarter valued at $383,000. Perennial Investment Advisors LLC raised its position in BlackRock by 19.1% in the 2nd quarter. Perennial Investment Advisors LLC now owns 530 shares of the asset manager’s stock worth $417,000 after purchasing an additional 85 shares during the period. Finally, Meiji Yasuda Life Insurance Co lifted its stake in BlackRock by 4.9% in the second quarter. Meiji Yasuda Life Insurance Co now owns 8,023 shares of the asset manager’s stock worth $6,317,000 after purchasing an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

BlackRock stock opened at $1,012.62 on Thursday. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. The stock’s 50 day simple moving average is $1,029.20 and its two-hundred day simple moving average is $943.81. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The stock has a market cap of $156.83 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 1.92 and a beta of 1.28.

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

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 2.01%. BlackRock’s dividend payout ratio (DPR) is currently 50.35%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. TD Cowen lifted their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. StockNews.com began coverage on BlackRock in a research report on Thursday. They issued a “hold” rating for the company. Citigroup raised their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. The Goldman Sachs Group upped their price target 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. Finally, Barclays cut 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 report on Monday. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,088.67.

Insiders Place Their Bets

In other news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

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.