Cincinnati Financial Corp Trims Stake in BlackRock, Inc. (NYSE:BLK)

Cincinnati Financial Corp lowered its holdings in BlackRock, Inc. (NYSE:BLK - Free Report) by 26.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,844 shares of the asset manager's stock after selling 10,405 shares during the period. Cincinnati Financial Corp's holdings in BlackRock were worth $27,388,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Marino Stram & Associates LLC lifted its stake in shares of BlackRock by 0.3% in the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager's stock valued at $3,227,000 after purchasing an additional 10 shares during the period. Onyx Bridge Wealth Group LLC raised its stake in BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager's stock valued at $312,000 after buying an additional 11 shares during the last quarter. Ballentine Partners LLC raised its stake in BlackRock by 0.3% during the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager's stock valued at $3,251,000 after buying an additional 11 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in BlackRock by 0.4% during the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager's stock valued at $2,829,000 after buying an additional 11 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in BlackRock by 0.7% during the third quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager's stock valued at $1,447,000 after buying an additional 11 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of research analyst reports. Barclays upped their price target on BlackRock from $1,010.00 to $1,120.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Wells Fargo & Company upped their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Morgan Stanley upped their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their price target on BlackRock from $864.00 to $914.00 and gave the stock a "neutral" rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,019.62.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the 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 sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.90% of the company's stock.

BlackRock Trading Up 0.2 %

Shares of NYSE:BLK traded up $2.60 during trading on Monday, hitting $1,049.97. The company had a trading volume of 500,304 shares, compared to its average volume of 574,657. The stock has a market cap of $162.62 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 1.87 and a beta of 1.30. BlackRock, Inc. has a one year low of $712.11 and a one year high of $1,068.34. The company has a fifty day simple moving average of $969.04 and a two-hundred day simple moving average of $871.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the company earned $10.91 EPS. The company's revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities analysts forecast that BlackRock, Inc. will post 43.17 earnings per share for the current year.

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.