BlackRock (NYSE:BLK) Shares Sold by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI cut its stake in shares of BlackRock (NYSE:BLK - Free Report) by 60.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,203 shares of the asset manager's stock after selling 1,824 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in BlackRock were worth $1,139,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BLK. GAMMA Investing LLC boosted its position in shares of BlackRock by 104,598.9% in the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after buying an additional 3,496,740 shares in the last quarter. Norges Bank purchased a new stake in shares of BlackRock in the 4th quarter worth about $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of BlackRock by 401.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock worth $1,122,743,000 after buying an additional 876,836 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of BlackRock in the 4th quarter worth about $572,730,000. Finally, Ameriprise Financial Inc. boosted its position in shares of BlackRock by 18.6% in the 4th quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock worth $2,152,907,000 after buying an additional 329,244 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction dated 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 sale, the director owned 66,034 shares of the company's stock, valued at approximately $60,256,025. This represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.98% of the company's stock.

BlackRock Stock Up 2.3%

NYSE:BLK opened at $1,106.90 on Friday. The stock has a 50-day simple moving average of $1,009.94 and a 200 day simple moving average of $972.77. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,116.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The company has a market cap of $171.49 billion, a PE ratio of 26.76, a PEG ratio of 2.17 and a beta of 1.41.

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

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were paid a $5.21 dividend. The ex-dividend date was Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.88%. BlackRock's payout ratio is 50.39%.

Analyst Ratings Changes

BLK has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods reduced their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a report on Wednesday. UBS Group reissued a "neutral" rating and set a $980.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. The Goldman Sachs Group reissued a "buy" rating and set a $1,115.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Argus reaffirmed a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,151.21.

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.

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