Pittenger & Anderson Inc. Sells 107 Shares of BlackRock, Inc. (NYSE:BLK)

Pittenger & Anderson Inc. lessened its holdings in BlackRock, Inc. (NYSE:BLK) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,643 shares of the asset manager’s stock after selling 107 shares during the quarter. BlackRock accounts for 1.0% of Pittenger & Anderson Inc.’s investment portfolio, making the stock its 22nd largest position. Pittenger & Anderson Inc.’s holdings in BlackRock were worth $22,441,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Tokio Marine Asset Management Co. Ltd. grew its stake in BlackRock by 3.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,237 shares of the asset manager’s stock valued at $2,628,000 after purchasing an additional 123 shares during the period. Atria Wealth Solutions Inc. grew its stake in shares of BlackRock by 5.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 9,527 shares of the asset manager’s stock worth $7,734,000 after acquiring an additional 505 shares during the period. Carret Asset Management LLC bought a new position in shares of BlackRock during the 4th quarter worth $241,000. Wynn Capital LLC bought a new position in shares of BlackRock during the 4th quarter worth $1,162,000. Finally, Bfsg LLC bought a new position in shares of BlackRock during the 4th quarter worth $79,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of NYSE:BLK traded up $6.95 on Friday, hitting $764.60. The company’s stock had a trading volume of 235,079 shares, compared to its average volume of 622,728. The company has a 50-day simple moving average of $802.70 and a 200 day simple moving average of $759.32. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. The company has a market capitalization of $113.88 billion, a PE ratio of 19.37, a PEG ratio of 1.58 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $7.93 EPS. Sell-side analysts forecast that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the transaction, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at approximately $335,425,128.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now owns 17,004 shares in the company, valued at $13,910,292.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,511 shares of company stock valued at $66,778,367. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley increased their price target on 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 price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. UBS Group increased their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $845.42.

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.