CIBC World Markets Inc. Has $2,233,000 Position in BlackRock Inc. (BLK)
CIBC World Markets Inc. raised its stake in shares of BlackRock Inc. (NYSE:BLK) by 37.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,160 shares of the company’s stock after buying an additional 1,665 shares during the period. CIBC World Markets Inc.’s holdings in BlackRock were worth $2,233,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in BlackRock by 2.1% in the second quarter. Vanguard Group Inc. now owns 7,326,122 shares of the company’s stock valued at $2,509,417,000 after buying an additional 150,093 shares during the period. FMR LLC raised its position in BlackRock by 1.6% in the second quarter. FMR LLC now owns 4,139,658 shares of the company’s stock valued at $1,417,958,000 after buying an additional 65,452 shares during the period. JPMorgan Chase & Co. raised its position in BlackRock by 7.0% in the second quarter. JPMorgan Chase & Co. now owns 3,372,334 shares of the company’s stock valued at $1,155,126,000 after buying an additional 219,654 shares during the period. Capital World Investors raised its position in BlackRock by 1.0% in the second quarter. Capital World Investors now owns 3,282,208 shares of the company’s stock valued at $1,124,255,000 after buying an additional 31,191 shares during the period. Finally, Ameriprise Financial Inc. raised its position in BlackRock by 0.6% in the second quarter. Ameriprise Financial Inc. now owns 1,878,497 shares of the company’s stock valued at $643,336,000 after buying an additional 10,918 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.
Shares of BlackRock Inc. (NYSE:BLK) traded down 0.03% on Tuesday, hitting $368.55. 694,626 shares of the stock were exchanged. BlackRock Inc. has a 52-week low of $280.55 and a 52-week high of $380.30. The company’s 50 day moving average is $356.56 and its 200-day moving average is $358.44. The stock has a market cap of $60.39 billion, a PE ratio of 19.36 and a beta of 1.65.
BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 18th. The company reported $5.14 EPS for the quarter, beating the Zacks’ consensus estimate of $4.98 by $0.16. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $1.01 billion. BlackRock had a net margin of 28.59% and a return on equity of 11.04%. BlackRock’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.00 earnings per share. Analysts predict that BlackRock Inc. will post $19.25 EPS for the current fiscal year.
Several research firms have recently issued reports on BLK. Argus restated a “buy” rating and issued a $400.00 target price on shares of BlackRock in a report on Friday, October 21st. Citigroup Inc. restated a “buy” rating on shares of BlackRock in a report on Friday, October 21st. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $410.00 target price for the company in a report on Monday, September 19th. Wells Fargo & Co. restated a “market perform” rating on shares of BlackRock in a report on Friday, October 21st. Finally, Barclays PLC raised their target price on shares of BlackRock from $364.00 to $375.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 24th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. BlackRock presently has a consensus rating of “Buy” and a consensus price target of $387.80.
In other news, insider Jeff A. Smith sold 125 shares of the stock in a transaction dated Wednesday, October 19th. The shares were sold at an average price of $355.22, for a total transaction of $44,402.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William S. Demchak purchased 1,200 shares of BlackRock stock in a transaction dated Thursday, October 27th. The shares were acquired at an average cost of $341.11 per share, for a total transaction of $409,332.00. Following the transaction, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $409,332. The disclosure for this purchase can be found here. Insiders own 2.20% of the company’s stock.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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