CIBC World Markets Inc. raised its stake in BlackRock, Inc. (NYSE:BLK) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,297 shares of the asset manager’s stock after acquiring an additional 1,682 shares during the quarter. CIBC World Markets Inc.’s holdings in BlackRock were worth $5,290,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Salem Investment Counselors Inc. lifted its holdings in BlackRock by 14.3% in the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after acquiring an additional 30 shares during the period. Invictus RG purchased a new position in shares of BlackRock during the third quarter worth about $110,000. Tower Research Capital LLC TRC grew its holdings in shares of BlackRock by 133.3% during the second quarter. Tower Research Capital LLC TRC now owns 280 shares of the asset manager’s stock worth $118,000 after purchasing an additional 160 shares during the last quarter. Oakworth Capital Inc. grew its holdings in shares of BlackRock by 67.6% during the fourth quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock worth $153,000 after buying an additional 123 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. grew its holdings in shares of BlackRock by 1,119.2% during the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock worth $141,000 after buying an additional 291 shares during the last quarter. 83.27% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Jeff A. Smith sold 100 shares of BlackRock stock in a transaction on Friday, November 17th. The stock was sold at an average price of $477.54, for a total value of $47,754.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Deryck C. Maughan purchased 3,861 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was bought at an average price of $573.44 per share, for a total transaction of $2,214,051.84. Following the completion of the acquisition, the director now directly owns 12,265 shares in the company, valued at approximately $7,033,241.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 5,775 shares of company stock valued at $2,983,400. 1.86% of the stock is currently owned by corporate insiders.
Several analysts have recently issued reports on BLK shares. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price objective for the company in a research note on Thursday, January 11th. Jefferies Group upped their price target on shares of BlackRock to $565.00 and gave the company a “hold” rating in a research note on Monday, January 15th. Citigroup upped their price target on shares of BlackRock to $625.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Wells Fargo & Co restated a “market perform” rating and issued a $555.00 price target (up from $535.00) on shares of BlackRock in a research note on Tuesday, January 16th. Finally, Credit Suisse Group restated a “buy” rating and issued a $680.00 price target on shares of BlackRock in a research note on Friday, January 12th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $547.92.
BlackRock, Inc. (NYSE BLK) traded up $12.13 on Friday, reaching $521.51. 934,429 shares of the company traded hands, compared to its average volume of 787,949. BlackRock, Inc. has a 1-year low of $368.00 and a 1-year high of $594.52. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. The company has a market capitalization of $83,987.10, a PE ratio of 23.02, a price-to-earnings-growth ratio of 1.40 and a beta of 1.76.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.94 by $0.30. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the business posted $5.14 earnings per share. BlackRock’s revenue was up 20.0% compared to the same quarter last year. sell-side analysts anticipate that BlackRock, Inc. will post 28.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be given a dividend of $2.88 per share. The ex-dividend date is Tuesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 dividend on an annualized basis and a yield of 2.21%. BlackRock’s payout ratio is 33.00%.
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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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