BlackRock, Inc. (BLK) Position Reduced by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in BlackRock, Inc. (NYSE:BLK) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,858 shares of the asset manager’s stock after selling 1,332 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.05% of BlackRock worth $37,045,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Davis R M Inc. boosted its stake in BlackRock by 0.4% in the second quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock worth $238,000 after purchasing an additional 2 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in BlackRock by 1.2% in the second quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock worth $111,000 after purchasing an additional 3 shares in the last quarter. ZWJ Investment Counsel Inc. boosted its stake in BlackRock by 0.4% in the second quarter. ZWJ Investment Counsel Inc. now owns 688 shares of the asset manager’s stock worth $291,000 after purchasing an additional 3 shares in the last quarter. Wayne Hummer Investments L.L.C. boosted its stake in BlackRock by 0.3% in the second quarter. Wayne Hummer Investments L.L.C. now owns 1,059 shares of the asset manager’s stock worth $447,000 after purchasing an additional 3 shares in the last quarter. Finally, Berkshire Asset Management LLC PA boosted its stake in BlackRock by 0.8% in the second quarter. Berkshire Asset Management LLC PA now owns 663 shares of the asset manager’s stock worth $280,000 after purchasing an additional 5 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

BLK has been the topic of a number of recent analyst reports. Goldman Sachs Group raised BlackRock from a “neutral” rating to a “buy” rating and boosted their price objective for the stock 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 price objective (up previously from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Barclays assumed coverage on BlackRock in a research note 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 note on Tuesday, October 3rd. Finally, Jefferies Group reaffirmed a “hold” rating and set a $440.00 price target on shares of BlackRock in a research note on Tuesday, September 26th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $489.08.

BlackRock, Inc. (NYSE:BLK) opened at $512.12 on Wednesday. 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, Inc. has a one year low of $365.83 and a one year high of $515.60. The stock has a market capitalization of $82,330.48, a price-to-earnings ratio of 23.83, a PEG ratio of 1.79 and a beta of 1.81.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating the 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 in the prior year, the firm posted $5.14 earnings per share. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. analysts forecast that BlackRock, Inc. will post 22.3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Monday, December 4th will be issued a $2.50 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $10.00 dividend on an annualized basis and a yield of 1.95%. BlackRock’s dividend payout ratio is presently 46.82%.

In related news, Director J. Richard Kushel sold 100 shares of the company’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $481.58, for a total value of $48,158.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Wagner sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $506.10, for a total value of $2,024,400.00. Following the completion of the sale, the director now owns 481,915 shares of the company’s stock, valued at approximately $243,897,181.50. The disclosure for this sale can be found here. Insiders sold 5,200 shares of company stock valued at $2,599,302 in the last quarter. 1.86% of the stock is currently owned by corporate insiders.

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About BlackRock

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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