CIBC Asset Management Inc increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 6.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,533 shares of the asset manager’s stock after purchasing an additional 1,207 shares during the period. CIBC Asset Management Inc’s holdings in BlackRock were worth $8,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Private Ocean LLC raised its holdings in shares of BlackRock by 63.9% during the first quarter. Private Ocean LLC now owns 118 shares of the asset manager’s stock worth $50,000 after purchasing an additional 46 shares during the last quarter. SlateStone Wealth LLC raised its holdings in shares of BlackRock by 0.6% during the first quarter. SlateStone Wealth LLC now owns 4,167 shares of the asset manager’s stock worth $1,781,000 after purchasing an additional 23 shares during the last quarter. Harvest Group Wealth Management LLC purchased a new position in shares of BlackRock during the first quarter worth $37,000. W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in shares of BlackRock by 20.1% during the first quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 10,146 shares of the asset manager’s stock worth $4,923,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Hall Capital Management Co. Inc. purchased a new position in shares of BlackRock during the first quarter worth $200,000. 83.79% of the stock is owned by hedge funds and other institutional investors.
BLK has been the subject of several recent research reports. Barclays raised their target price on shares of BlackRock from $490.00 to $515.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Credit Suisse Group reaffirmed a “buy” rating and issued a $532.00 price objective on shares of BlackRock in a report on Thursday, January 17th. Jefferies Financial Group raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $405.36 price objective for the company in a report on Tuesday, January 29th. Argus reaffirmed a “buy” rating on shares of BlackRock in a report on Thursday, January 17th. Finally, Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $491.00 price objective for the company in a report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $509.38.
BLK opened at $444.36 on Thursday. BlackRock, Inc. has a fifty-two week low of $360.79 and a fifty-two week high of $557.00. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49. The firm has a market capitalization of $69.97 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.59 and a beta of 1.44.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 earnings per share for the quarter, beating analysts’ consensus estimates of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.30 billion. During the same quarter in the previous year, the company earned $6.48 earnings per share. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, equities analysts anticipate that BlackRock, Inc. will post 27.78 EPS for the current year.
In other news, insider Jeff A. Smith sold 75 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $479.40, for a total transaction of $35,955.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Laurence Fink sold 31,250 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $481.79, for a total transaction of $15,055,937.50. The disclosure for this sale can be found here. Insiders have sold 40,483 shares of company stock valued at $19,221,303 in the last three months. Corporate insiders own 1.42% of the company’s stock.
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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.
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