Cumberland Partners Ltd Buys 4,515 Shares of BlackRock, Inc. (NYSE:BLK)

Cumberland Partners Ltd grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 54.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,761 shares of the asset manager’s stock after acquiring an additional 4,515 shares during the period. Cumberland Partners Ltd’s holdings in BlackRock were worth $9,691,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BLK. AE Wealth Management LLC grew its holdings in shares of BlackRock by 5.1% during the third quarter. AE Wealth Management LLC now owns 4,849 shares of the asset manager’s stock valued at $3,135,000 after buying an additional 236 shares during the last quarter. Park Place Capital Corp increased its stake in shares of BlackRock by 8.0% during the third quarter. Park Place Capital Corp now owns 1,412 shares of the asset manager’s stock worth $913,000 after purchasing an additional 104 shares in the last quarter. BTC Capital Management Inc. increased its stake in shares of BlackRock by 5.4% during the third quarter. BTC Capital Management Inc. now owns 13,919 shares of the asset manager’s stock worth $8,998,000 after purchasing an additional 711 shares in the last quarter. Argus Investors Counsel Inc. grew its stake in BlackRock by 0.4% during the 3rd quarter. Argus Investors Counsel Inc. now owns 4,490 shares of the asset manager’s stock valued at $2,903,000 after acquiring an additional 18 shares in the last quarter. Finally, Brown Miller Wealth Management LLC grew its stake in BlackRock by 3.2% during the 3rd quarter. Brown Miller Wealth Management LLC now owns 3,693 shares of the asset manager’s stock valued at $2,388,000 after acquiring an additional 114 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Up 0.9 %

BLK traded up $6.57 during trading on Tuesday, hitting $766.68. 460,845 shares of the company’s stock were exchanged, compared to its average volume of 628,075. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. The stock has a 50 day moving average price of $803.96 and a 200 day moving average price of $759.31. The firm has a market cap of $114.19 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.37.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the company posted $7.93 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, analysts expect that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BLK has been the subject of several research reports. UBS Group upped their price objective on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley increased their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

Insider Buying and Selling at BlackRock

In other news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BlackRock news, CFO Martin Small sold 7,036 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $786.36, for a total value of $5,532,828.96. Following the completion of the transaction, the chief financial officer now directly owns 5,259 shares in the company, valued at $4,135,467.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at $335,425,128.32. The disclosure for this sale can be found here. Insiders sold a total of 82,511 shares of company stock worth $66,778,367 over the last 90 days. Insiders own 0.90% of the company’s stock.

About BlackRock

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.