CIBC Asset Management Inc Raises Holdings in BlackRock, Inc. (NYSE:BLK)

CIBC Asset Management Inc lifted its position in BlackRock, Inc. (NYSE:BLK) by 5.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 35,278 shares of the asset manager’s stock after buying an additional 1,924 shares during the period. CIBC Asset Management Inc’s holdings in BlackRock were worth $33,497,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its position 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 valued at $3,630,127,000 after acquiring an additional 435,358 shares in the last quarter. Ameriprise Financial Inc. boosted its position in BlackRock by 2.9% during the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after purchasing an additional 46,728 shares in the last quarter. Legal & General Group Plc grew its stake in BlackRock by 1.9% in the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after purchasing an additional 22,311 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in BlackRock by 89,389.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after purchasing an additional 1,044,962 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of BlackRock by 104,468.9% in the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after buying an additional 791,874 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Evercore ISI boosted their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com began coverage on BlackRock in a research note on Wednesday. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Stock Performance

Shares of BLK stock opened at $1,046.87 on Friday. The stock has a market cap of $155.07 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.84 and a beta of 1.30. BlackRock, Inc. has a 52-week low of $708.75 and a 52-week high of $1,068.34. The business has a 50-day simple moving average of $965.44 and a 200-day simple moving average of $867.99. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. BlackRock’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.91 earnings per share. On average, equities analysts expect that BlackRock, Inc. will post 43.17 EPS for the current year.

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.