Cumberland Partners Ltd Lowers Position in BlackRock $BLK

Cumberland Partners Ltd trimmed its position in BlackRock (NYSE:BLK) by 7.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,050 shares of the asset manager’s stock after selling 395 shares during the period. Cumberland Partners Ltd’s holdings in BlackRock were worth $5,299,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BLK. Vanguard Group Inc. grew its position in shares of BlackRock by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 13,991,264 shares of the asset manager’s stock worth $14,680,334,000 after buying an additional 227,192 shares during the period. Geode Capital Management LLC grew its holdings in BlackRock by 1.1% in the second quarter. Geode Capital Management LLC now owns 3,143,429 shares of the asset manager’s stock worth $3,281,641,000 after purchasing an additional 34,049 shares during the period. Royal Bank of Canada increased its stake in shares of BlackRock by 73.2% during the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after purchasing an additional 555,098 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of BlackRock by 10.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock valued at $1,142,340,000 after purchasing an additional 111,694 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of BlackRock by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock worth $1,071,339,000 after purchasing an additional 279,336 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Loop Capital set a $1,255.00 price target on BlackRock in a report on Tuesday, October 21st. TD Cowen raised their price objective on shares of BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. BMO Capital Markets upped their target price on shares of BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Barclays raised their price target on shares of BlackRock from $1,310.00 to $1,360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on BlackRock from $1,312.00 to $1,305.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average target price of $1,302.53.

Insider Transactions at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares in the company, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.98% of the company’s stock.

BlackRock Price Performance

NYSE BLK opened at $1,014.53 on Thursday. The stock has a market capitalization of $157.41 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 1.90 and a beta of 1.48. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The business’s fifty day moving average price is $1,122.25 and its 200-day moving average price is $1,077.17.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The firm had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The firm’s revenue was up 25.2% compared to the same quarter last year. During the same quarter last year, the company posted $11.46 EPS. On average, equities analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Friday, December 5th will be issued a $5.21 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.1%. BlackRock’s dividend payout ratio (DPR) is presently 53.59%.

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.