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

CIBC Asset Management Inc grew its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,278 shares of the asset manager’s stock after acquiring 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BLK. Fairscale Capital LLC bought a new position in shares of BlackRock in the second quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new position in shares of BlackRock during the 3rd quarter valued at $37,000. MFA Wealth Advisors LLC boosted its holdings in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares during the period. Addison Advisors LLC increased its stake in BlackRock by 81.5% in the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after buying an additional 22 shares in the last quarter. Finally, Olistico Wealth LLC bought a new stake in BlackRock during the second quarter valued at about $53,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on BLK shares. JPMorgan Chase & Co. increased their target price on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. StockNews.com initiated coverage on shares of BlackRock in a report on Wednesday. They set a “hold” rating for the company. Barclays boosted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. TD Cowen upped their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target 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 investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Stock Down 0.0 %

NYSE BLK opened at $1,046.87 on Friday. 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, Inc. has a 52 week low of $708.75 and a 52 week high of $1,068.34. The firm has a market capitalization of $155.07 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.84 and a beta of 1.30. The company has a fifty day moving average of $965.44 and a two-hundred day moving average of $867.99.

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

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.