BlackRock, Inc. (NYSE:BLK) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its position in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 154.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,051 shares of the asset manager’s stock after purchasing an additional 17,620 shares during the period. Assenagon Asset Management S.A.’s holdings in BlackRock were worth $23,584,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. West Tower Group LLC acquired a new stake in shares of BlackRock during the 2nd quarter worth about $27,000. Tyler Stone Wealth Management acquired a new stake in shares of BlackRock during the 2nd quarter worth about $33,000. FSC Wealth Advisors LLC acquired a new stake in shares of BlackRock during the 4th quarter worth about $40,000. Exchange Traded Concepts LLC boosted its position in shares of BlackRock by 671.4% in the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after acquiring an additional 47 shares during the last quarter. Finally, Chilton Capital Management LLC acquired a new stake in shares of BlackRock in the second quarter worth approximately $43,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLK has been the topic of several research analyst reports. JPMorgan Chase & Co. cut shares of BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 target price on the stock. in a research report on Friday, December 15th. The Goldman Sachs Group raised their target price on shares of BlackRock from $719.00 to $793.00 and gave the stock a “buy” rating in a research report on Thursday, November 30th. BNP Paribas raised shares of BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 target price on the stock in a research report on Tuesday, December 12th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Finally, UBS Group lifted their price target on shares of BlackRock from $720.00 to $818.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $785.73.

Read Our Latest Stock Analysis on BLK

BlackRock Trading Up 0.5 %

BLK opened at $820.21 on Wednesday. The firm has a market capitalization of $122.16 billion, a P/E ratio of 22.47, a P/E/G ratio of 1.82 and a beta of 1.37. The firm’s 50 day moving average is $803.63 and its 200-day moving average is $741.11. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLKGet Free Report) last posted its quarterly earnings data on Friday, January 12th. The asset manager reported $9.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $0.82. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 30.81% and a return on equity of 14.74%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $8.93 earnings per share. Analysts expect that BlackRock, Inc. will post 39.73 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Thursday, March 7th were paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Wednesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $5.00. BlackRock’s payout ratio is 55.88%.

Insider Buying and Selling

In related news, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the sale, the general counsel now owns 11,914 shares in the company, valued at $3,366,142.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other BlackRock news, Director Stephen Cohen sold 950 shares of BlackRock stock in a transaction on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the transaction, the director now owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,511 shares of company stock worth $71,864,028. Insiders own 1.06% of the company’s stock.

About BlackRock

(Free Report)

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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