Assenagon Asset Management S.A. Increases Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Assenagon Asset Management S.A. boosted its position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 26.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 409,042 shares of the asset manager's stock after buying an additional 86,480 shares during the period. BlackRock accounts for approximately 0.6% of Assenagon Asset Management S.A.'s portfolio, making the stock its 22nd biggest holding. Assenagon Asset Management S.A. owned about 0.26% of BlackRock worth $387,150,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $26,000. Investment Management Corp VA ADV purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $30,000. Collier Financial purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $32,000. Compass Planning Associates Inc purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BLK shares. UBS Group lowered their target price on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company raised their price target on BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Bank of America reduced their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Morgan Stanley reduced their price target on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Finally, TD Cowen reduced their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, BlackRock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,082.46.

BlackRock Price Performance

BLK stock traded down $17.01 during midday trading on Friday, hitting $971.24. 674,277 shares of the stock were exchanged, compared to its average volume of 690,463. The stock's 50-day moving average price is $937.84 and its 200-day moving average price is $972.04. The stock has a market cap of $150.47 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a fifty-two week low of $766.05 and a fifty-two week high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same period in the previous year, the firm posted $9.81 earnings per share. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be issued a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.15%. BlackRock's dividend payout ratio (DPR) is 50.63%.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the transaction, the director now directly owns 66,034 shares of the company's stock, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.98% of the company's stock.

About BlackRock

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.