CIBC Asset Management Inc Has $7.74 Million Holdings in BlackRock, Inc. (BLK)

CIBC Asset Management Inc raised its stake in BlackRock, Inc. (NYSE:BLK) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,321 shares of the asset manager’s stock after buying an additional 179 shares during the quarter. CIBC Asset Management Inc’s holdings in BlackRock were worth $7,744,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. lifted its stake in BlackRock by 14.3% in the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after buying an additional 30 shares during the period. Proficio Capital Partners LLC lifted its stake in BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after buying an additional 85 shares during the period. Enterprise Financial Services Corp lifted its stake in BlackRock by 52.5% in the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after buying an additional 85 shares during the period. Penserra Capital Management LLC acquired a new position in BlackRock in the second quarter valued at about $104,000. Finally, Harfst & Associates Inc. lifted its stake in BlackRock by 17.3% in the second quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock valued at $111,000 after buying an additional 39 shares during the period. 82.42% of the stock is currently owned by hedge funds and other institutional investors.

In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J. Richard Kushel sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total value of $48,158.00. The disclosure for this sale can be found here. In the last three months, insiders sold 4,775 shares of company stock worth $2,053,412. 1.86% of the stock is owned by insiders.

Shares of BlackRock, Inc. (BLK) traded down $0.72 during trading on Tuesday, reaching $465.11. The company had a trading volume of 499,000 shares, compared to its average volume of 531,906. BlackRock, Inc. has a 1-year low of $365.83 and a 1-year high of $489.79. The firm has a market cap of $75,276.73, a price-to-earnings ratio of 21.62, a PEG ratio of 1.61 and a beta of 1.79. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the firm earned $5.14 EPS. BlackRock’s revenue for the quarter was up 14.0% compared to the same quarter last year. analysts anticipate that BlackRock, Inc. will post 22.29 EPS for the current fiscal year.

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BLK has been the topic of several analyst reports. Goldman Sachs Group, Inc. (The) raised BlackRock from a “neutral” rating to a “buy” rating and increased their target price for the company from $440.00 to $500.00 in a research note on Thursday, September 28th. Wells Fargo & Company reissued a “market perform” rating and issued a $475.00 target price (up previously from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Barclays PLC assumed coverage on BlackRock in a research report on Friday, September 8th. They set an “overweight” rating and a $475.00 price target on the stock. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target on the stock in a research report on Tuesday, October 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $440.00 price target on shares of BlackRock in a research report on Tuesday, September 26th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $489.08.

BlackRock Profile

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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