DekaBank Deutsche Girozentrale Has $221.75 Million Holdings in BlackRock, Inc. (NYSE:BLK)

DekaBank Deutsche Girozentrale grew its stake in BlackRock, Inc. (NYSE:BLK) by 6.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 283,727 shares of the asset manager’s stock after purchasing an additional 17,348 shares during the period. DekaBank Deutsche Girozentrale owned about 0.19% of BlackRock worth $221,749,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Redmont Wealth Advisors LLC acquired a new stake in BlackRock during the first quarter worth about $27,000. Private Wealth Management Group LLC bought a new stake in shares of BlackRock in the 4th quarter worth approximately $28,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $28,000. Lam Group Inc. bought a new stake in shares of BlackRock during the first quarter valued at approximately $33,000. Finally, Fairman Group LLC acquired a new position in shares of BlackRock in the fourth quarter valued at $35,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of BlackRock stock opened at $885.54 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm has a 50 day simple moving average of $856.07 and a 200 day simple moving average of $813.81. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $903.46. The firm has a market cap of $131.59 billion, a P/E ratio of 22.50, a P/E/G ratio of 1.89 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period last year, the firm earned $9.28 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts predict that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a dividend of $5.10 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.30%. BlackRock’s payout ratio is presently 51.84%.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of recent research reports. UBS Group decreased their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Argus lifted their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Evercore ISI upped their target price on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Morgan Stanley cut their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Finally, Citigroup upped their price objective on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $902.13.

Insider Activity

In related news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by insiders.

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.