Baader Bank Aktiengesellschaft Has $578,000 Holdings in BlackRock (NYSE:BLK)

Key Points

• Baader Bank Aktiengesellschaft reduced its stake in BlackRock by 57.6% during the first quarter, now holding shares worth $578,000.
• BlackRock recently announced a quarterly dividend of $5.21, reflecting an annualized rate of $20.84 and a yield of 1.87%.
• BlackRock's recent earnings report showed an EPS of $12.05, surpassing analysts' expectations, indicating a 12.9% year-over-year revenue increase.

Baader Bank Aktiengesellschaft trimmed its stake in shares of BlackRock (NYSE:BLK - Free Report) by 57.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 611 shares of the asset manager's stock after selling 829 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in BlackRock were worth $578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BLK. SlateStone Wealth LLC boosted its holdings in shares of BlackRock by 0.5% in the 1st quarter. SlateStone Wealth LLC now owns 13,192 shares of the asset manager's stock worth $12,486,000 after acquiring an additional 61 shares in the last quarter. Wellington Shields & Co. LLC raised its position in BlackRock by 3.3% in the 1st quarter. Wellington Shields & Co. LLC now owns 1,378 shares of the asset manager's stock worth $1,304,000 after purchasing an additional 44 shares during the last quarter. Woodley Farra Manion Portfolio Management Inc. raised its position in BlackRock by 0.8% in the 1st quarter. Woodley Farra Manion Portfolio Management Inc. now owns 5,521 shares of the asset manager's stock worth $5,226,000 after purchasing an additional 45 shares during the last quarter. Arkadios Wealth Advisors raised its position in BlackRock by 224.9% in the 1st quarter. Arkadios Wealth Advisors now owns 3,662 shares of the asset manager's stock worth $3,466,000 after purchasing an additional 2,535 shares during the last quarter. Finally, Eastern Bank bought a new position in BlackRock in the 1st quarter worth approximately $47,725,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group reiterated a "neutral" rating and set a $980.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research report on Tuesday, July 8th. Wells Fargo & Company lowered their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,151.21.

Insider Activity

In related news, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction that occurred on 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 transaction, the director directly owned 3,506 shares of the company's stock, 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 legal filing with the SEC, which is available through this link. Also, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the completion of the transaction, the chief executive officer directly owned 263,751 shares in the company, valued at $296,002,472.28. This trade represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by insiders.

BlackRock Stock Performance

BLK stock traded up $14.40 during mid-day trading on Monday, hitting $1,106.20. 184,621 shares of the company were exchanged, compared to its average volume of 780,232. The business has a 50 day simple moving average of $1,040.67 and a 200-day simple moving average of $981.35. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $171.38 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 2.21 and a beta of 1.42. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,130.66.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The company had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same period last year, the firm earned $10.36 earnings per share. The business's revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is 50.39%.

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.