Cincinnati Financial Corp Sells 10,405 Shares of BlackRock, Inc. (NYSE:BLK)

Cincinnati Financial Corp lowered its position in BlackRock, Inc. (NYSE:BLK) by 26.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,844 shares of the asset manager’s stock after selling 10,405 shares during the period. Cincinnati Financial Corp’s holdings in BlackRock were worth $27,388,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Fairscale Capital LLC purchased a new position in BlackRock during the 2nd quarter valued at about $31,000. Reston Wealth Management LLC bought a new position in shares of BlackRock during the third quarter valued at approximately $37,000. MFA Wealth Advisors LLC lifted its holdings in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares during the last quarter. Addison Advisors LLC boosted its position in shares of BlackRock by 81.5% in the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of BlackRock in the 3rd quarter worth approximately $54,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,047.37 on Monday. The firm has a market capitalization of $162.22 billion, a PE ratio of 25.85, a P/E/G ratio of 1.87 and a beta of 1.30. The company has a 50 day moving average price of $969.04 and a 200-day moving average price of $871.62. BlackRock, Inc. has a 52 week low of $708.75 and a 52 week high of $1,068.34. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.91 EPS. As a group, equities research analysts expect that BlackRock, Inc. will post 43.17 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on BLK. The Goldman Sachs Group lifted their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Evercore ISI increased their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com began coverage on shares of BlackRock in a research note on Wednesday, November 13th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

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.