Erste Asset Management GmbH Reduces Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Erste Asset Management GmbH cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 34,432 shares of the asset manager’s stock after selling 306 shares during the quarter. Erste Asset Management GmbH’s holdings in BlackRock were worth $35,683,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BLK. Proficio Capital Partners LLC boosted its holdings in BlackRock by 138,682.5% during the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock worth $634,000 after buying an additional 633,779 shares in the last quarter. Amundi purchased a new stake in BlackRock during the fourth quarter worth $528,792,000. Montrusco Bolton Investments Inc. purchased a new stake in BlackRock during the fourth quarter worth $343,976,000. Assenagon Asset Management S.A. purchased a new stake in BlackRock during the fourth quarter worth $330,662,000. Finally, National Pension Service purchased a new stake in BlackRock during the fourth quarter worth $322,097,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the completion of the sale, the director now directly owns 68,433 shares in the company, valued at approximately $73,403,973.12. This trade represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 20,430 shares of company stock worth $21,234,629. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays lowered their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company increased their price objective on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Morgan Stanley increased their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Price Performance

Shares of NYSE BLK opened at $909.96 on Thursday. The firm has a 50-day simple moving average of $987.79 and a 200-day simple moving average of $985.88. The stock has a market capitalization of $141.27 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 1.90 and a beta of 1.29. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,084.22.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business earned $9.66 earnings per share. On average, equities analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $5.21 per share. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio (DPR) is presently 49.62%.

BlackRock 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.