Cumberland Partners Ltd Sells 5,241 Shares of BlackRock, Inc. (NYSE:BLK)

Cumberland Partners Ltd trimmed its position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 34.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,005 shares of the asset manager's stock after selling 5,241 shares during the period. Cumberland Partners Ltd's holdings in BlackRock were worth $10,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Pathway Financial Advisers LLC boosted its position in 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 during the period. International Assets Investment Management LLC lifted its stake in shares of BlackRock by 104,468.9% during the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager's stock valued at $7,526,120,000 after buying an additional 791,874 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new position in BlackRock in the 4th quarter worth approximately $343,976,000. Assenagon Asset Management S.A. purchased a new position in BlackRock in the 4th quarter valued at approximately $330,662,000. Finally, FMR LLC raised its holdings in BlackRock by 10.6% during the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager's stock valued at $2,244,608,000 after acquiring an additional 226,135 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Down 1.5 %

BLK stock traded down $14.61 during trading on Friday, hitting $974.77. 600,488 shares of the company traded hands, compared to its average volume of 801,293. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The company has a 50-day moving average of $1,013.24 and a 200-day moving average of $976.04. The firm has a market capitalization of $150.97 billion, a PE ratio of 23.26, a P/E/G ratio of 1.89 and a beta of 1.28. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,084.22.

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

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from BlackRock's previous quarterly dividend of $5.10. BlackRock's payout ratio is 48.57%.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the transaction, the director now owns 68,433 shares of the company's stock, valued at approximately $69,117,330. The trade was a 12.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the transaction, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,190 shares of company stock worth $115,163,141 in the last three months. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on BLK. Keefe, Bruyette & Woods reduced their price target on BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating for the company in a research report on Monday, January 13th. Morgan Stanley lifted 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. StockNews.com initiated coverage on shares of BlackRock in a research report on Monday. They issued a "hold" rating for the company. UBS Group boosted their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a "neutral" rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of BlackRock from $914.00 to $971.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,120.67.

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.