BlackRock, Inc. (NYSE:BLK) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 74.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,448 shares of the asset manager's stock after selling 33,668 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in BlackRock were worth $10,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Several research analysts recently commented on BLK shares. StockNews.com started coverage on BlackRock in a research report on Thursday. They issued a "hold" rating for the company. JPMorgan Chase & Co. boosted their target price on BlackRock from $864.00 to $914.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. The Goldman Sachs Group lifted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. TD Cowen increased their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,019.62.

BlackRock Stock Up 0.8 %

NYSE BLK traded up $8.46 on Friday, reaching $1,036.46. 653,755 shares of the stock traded hands, compared to its average volume of 575,133. The company has a market cap of $160.53 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 1.83 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a 12 month low of $724.54 and a 12 month high of $1,068.34. The company has a fifty day moving average price of $981.26 and a 200-day moving average price of $877.67.

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

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be given a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock's payout ratio is 50.35%.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of the business's stock in a transaction that occurred on 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 owns 6,480 shares in the company, valued at $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is currently owned by company insiders.

BlackRock Company 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.