BlackRock, Inc. (BLK) Position Lifted by Cibc World Markets Corp
Cibc World Markets Corp increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 34.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,141 shares of the asset manager’s stock after acquiring an additional 4,421 shares during the quarter. Cibc World Markets Corp’s holdings in BlackRock were worth $7,241,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in BlackRock by 8.4% during the 2nd quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after purchasing an additional 656,569 shares during the last quarter. BlackRock Inc. boosted its position in BlackRock by 3.2% during the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock worth $2,851,570,000 after purchasing an additional 209,209 shares during the period. State Street Corp increased its holdings in shares of BlackRock by 2.1% in the first quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock valued at $2,088,501,000 after purchasing an additional 112,993 shares during the last quarter. UBS Group AG increased its holdings in shares of BlackRock by 40.2% in the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after purchasing an additional 486,502 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of BlackRock by 8.2% in the first quarter. Clearbridge Investments LLC now owns 1,557,212 shares of the asset manager’s stock valued at $597,206,000 after purchasing an additional 118,222 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and set a $460.00 target price (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Deutsche Bank AG reissued a “buy” rating and issued a $455.00 price target (down from $465.00) on shares of BlackRock in a report on Tuesday, July 18th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $440.00 price target on shares of BlackRock in a report on Friday, August 18th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $456.54.
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In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,447 shares of company stock worth $1,855,015. 1.86% of the stock is currently owned by corporate insiders.
BlackRock, Inc. (NYSE:BLK) opened at 449.95 on Tuesday. The firm has a 50-day moving average price of $425.70 and a 200 day moving average price of $410.38. The firm has a market capitalization of $72.99 billion, a PE ratio of 21.60 and a beta of 1.72. BlackRock, Inc. has a one year low of $336.84 and a one year high of $450.49.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Zacks’ consensus estimate of $5.39 by ($0.15). The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. BlackRock’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $4.78 earnings per share. Analysts anticipate that BlackRock, Inc. will post $21.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Tuesday, September 5th were paid a dividend of $2.50 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.22%. BlackRock’s payout ratio is 47.98%.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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