Cornell Pochily Investment Advisors Inc. Sells 65 Shares of BlackRock, Inc. (NYSE:BLK)

Cornell Pochily Investment Advisors Inc. cut its position in BlackRock, Inc. (NYSE:BLK) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 989 shares of the asset manager’s stock after selling 65 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in BlackRock were worth $1,014,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BLK. Pacer Advisors Inc. raised its stake in shares of BlackRock by 11.9% during the 4th quarter. Pacer Advisors Inc. now owns 11,532 shares of the asset manager’s stock worth $11,822,000 after acquiring an additional 1,222 shares in the last quarter. Cornerstone Wealth Group LLC grew its holdings in BlackRock by 11.1% in the fourth quarter. Cornerstone Wealth Group LLC now owns 471 shares of the asset manager’s stock worth $483,000 after purchasing an additional 47 shares during the last quarter. KBC Group NV purchased a new stake in shares of BlackRock during the 4th quarter valued at $14,473,000. Blue Trust Inc. boosted its position in shares of BlackRock by 2.7% in the 4th quarter. Blue Trust Inc. now owns 923 shares of the asset manager’s stock worth $877,000 after purchasing an additional 24 shares in the last quarter. Finally, Narwhal Capital Management purchased a new position in BlackRock during the 4th quarter worth $22,260,000. 80.69% of the stock is currently owned by institutional investors.

Insider Activity at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction on Thursday, December 5th. The shares were 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 owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the transaction, the director now owns 68,433 shares of the company’s stock, valued at $69,117,330. This represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,190 shares of company stock worth $104,436,741 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

NYSE BLK opened at $1,020.19 on Monday. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The firm has a market capitalization of $158.01 billion, a P/E ratio of 24.29, a PEG ratio of 1.82 and a beta of 1.28. The stock has a 50-day simple moving average of $1,024.23 and a two-hundred day simple moving average of $955.97.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.66 EPS. On average, equities analysts forecast that BlackRock, Inc. will post 47.43 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is currently 48.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company increased their price target on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Evercore ISI upped their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Citigroup lifted their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. upped their target price on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

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.