Commerce Bank Has $32.13 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Commerce Bank cut its stake in BlackRock, Inc. (NYSE:BLK - Free Report) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,843 shares of the asset manager's stock after selling 1,107 shares during the period. Commerce Bank's holdings in BlackRock were worth $32,134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Pathway Financial Advisers LLC grew its stake in shares of BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager's stock worth $993,312,000 after purchasing an additional 1,044,962 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of BlackRock by 104,468.9% in the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager's stock worth $7,526,120,000 after purchasing an additional 791,874 shares in the last quarter. Capital Research Global Investors lifted its holdings in BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager's stock worth $3,630,127,000 after purchasing an additional 435,358 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in BlackRock during the third quarter worth about $115,377,000. Finally, Sarasin & Partners LLP grew its holdings in shares of BlackRock by 174.8% during the second quarter. Sarasin & Partners LLP now owns 184,291 shares of the asset manager's stock worth $145,096,000 after buying an additional 117,218 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BLK shares. TD Cowen lifted their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their target price on BlackRock from $1,105.00 to $1,133.00 and gave the stock a "buy" rating in a report on Monday, November 11th. JPMorgan Chase & Co. upped their price objective on BlackRock from $864.00 to $914.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. Morgan Stanley boosted their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Finally, Evercore ISI lifted their price target on BlackRock from $1,040.00 to $1,160.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and a consensus price target of $1,019.62.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company's stock, valued at $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 available at this link. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Stock Performance

Shares of NYSE BLK traded down $4.01 during mid-day trading on Wednesday, hitting $1,024.10. The company had a trading volume of 298,869 shares, compared to its average volume of 573,926. The firm has a market cap of $158.61 billion, a P/E ratio of 25.38, a PEG ratio of 1.87 and a beta of 1.30. BlackRock, Inc. has a 12 month low of $718.72 and a 12 month high of $1,068.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The business's 50-day simple moving average is $975.38 and its 200-day simple moving average is $875.55.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.42 by $1.04. The company 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 business'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. As a group, analysts predict that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.99%. BlackRock's dividend payout ratio (DPR) is presently 50.35%.

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.