BlackRock, Inc. (NYSE:BLK) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,844 shares of the asset manager's stock after selling 434 shares during the quarter. CIBC Asset Management Inc's holdings in BlackRock were worth $35,719,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FSA Wealth Management LLC purchased a new position in BlackRock during the 3rd quarter valued at about $26,000. Collier Financial purchased a new position in BlackRock during the 4th quarter valued at about $32,000. Atwood & Palmer Inc. purchased a new position in BlackRock during the 4th quarter valued at about $36,000. Reston Wealth Management LLC purchased a new position in BlackRock during the 3rd quarter valued at about $37,000. Finally, MFA Wealth Advisors LLC boosted its holdings in BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager's stock valued at $38,000 after acquiring an additional 20 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLK has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on BlackRock from $1,261.00 to $1,275.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Wells Fargo & Company lifted their price objective 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. Evercore ISI lifted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Barclays decreased their price objective on BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. lifted their price objective on BlackRock from $914.00 to $971.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, BlackRock has an average rating of "Moderate Buy" and an average target price of $1,120.67.

BlackRock Stock Down 1.5 %

BLK stock traded down $14.41 during trading on Friday, hitting $974.97. 1,253,611 shares of the company's stock were exchanged, compared to its average volume of 821,976. The business has a 50-day moving average price of $1,011.61 and a two-hundred day moving average price of $977.04. The stock has a market capitalization of $151.00 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 1.89 and a beta of 1.28. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping the consensus estimate of $11.52 by $0.41. The firm had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm's revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.66 earnings per share. As a group, equities research analysts expect that BlackRock, Inc. will post 47.44 EPS for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a dividend of $5.21 per share. This is a positive change from BlackRock's previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. This represents a $20.84 annualized dividend and a yield of 2.14%. BlackRock's payout ratio is 48.57%.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 36,190 shares of the business's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the transaction, the director now owns 6,480 shares of the company's stock, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the transaction, the director now directly owns 68,433 shares in the company, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,190 shares of company stock valued at $115,163,141 over the last quarter. Company insiders own 0.90% of the company's stock.

BlackRock 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.