BlackRock $BLK Shares Acquired by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI grew its position in BlackRock (NYSE:BLK) by 130.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,774 shares of the asset manager’s stock after purchasing an additional 1,571 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in BlackRock were worth $2,911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairway Wealth LLC raised its holdings in shares of BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC raised its stake in BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 15 shares in the last quarter. Garde Capital Inc. raised its stake in BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after acquiring an additional 18 shares in the last quarter. Cheviot Value Management LLC acquired a new stake in BlackRock during the 1st quarter worth $30,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in BlackRock during the 1st quarter worth $31,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Up 0.1%

Shares of NYSE:BLK opened at $1,165.64 on Friday. The company has a market cap of $180.50 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.21 and a beta of 1.45. The firm’s 50-day simple moving average is $1,134.03 and its 200-day simple moving average is $1,033.55. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,184.13.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating the consensus estimate of $10.41 by $1.64. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.36 earnings per share. As a group, equities research analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were issued a $5.21 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock’s payout ratio is presently 50.39%.

Insider Activity

In related news, Director Fabrizio Freda sold 4,434 shares of the firm’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the completion of the sale, the director owned 3,506 shares in the company, valued at $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the sale, the director owned 19,205 shares of the company’s stock, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock worth $74,694,573 in the last ninety days. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. BMO Capital Markets assumed coverage on shares of BlackRock in a research note on Friday, October 3rd. They set an “outperform” rating and a $1,280.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. UBS Group reiterated a “neutral” rating and set a $980.00 price target on shares of BlackRock in a research note on Tuesday, July 8th. Citigroup raised their price objective on shares of BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, Telsey Advisory Group reissued an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,258.13.

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.