Deutsche Bank AG Grows Stake in BlackRock (NYSE:BLK)

Key Points

• Deutsche Bank AG increased its stake in BlackRock by 11.9% in Q1, now owning approximately 0.31% of the company valued at $449 million.
• BlackRock's CEO Laurence Fink sold 12,054 shares at an average price of $1,125.43, representing a 4.57% decrease in his ownership.
• BlackRock recently announced a quarterly dividend of $5.21 per share, reflecting a 1.9% annualized dividend yield.

Deutsche Bank AG increased its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 474,480 shares of the asset manager's stock after purchasing an additional 50,618 shares during the quarter. Deutsche Bank AG owned approximately 0.31% of BlackRock worth $449,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after acquiring an additional 296 shares in the last quarter. Shelton Capital Management boosted its stake in BlackRock by 10.6% in the fourth quarter. Shelton Capital Management now owns 886 shares of the asset manager's stock valued at $908,000 after acquiring an additional 85 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of BlackRock by 3.9% during the fourth quarter. Advisory Services Network LLC now owns 3,687 shares of the asset manager's stock worth $3,780,000 after purchasing an additional 140 shares during the last quarter. Martingale Asset Management L P acquired a new stake in shares of BlackRock during the fourth quarter worth about $299,000. Finally, DRW Securities LLC lifted its holdings in shares of BlackRock by 48.5% in the 4th quarter. DRW Securities LLC now owns 821 shares of the asset manager's stock valued at $842,000 after purchasing an additional 268 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 12,054 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the completion of the transaction, the chief executive officer owned 251,697 shares in the company, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Fabrizio Freda sold 4,434 shares of the business's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the sale, the director owned 3,506 shares in the company, valued at $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock valued at $74,694,573 in the last three months. 1.98% of the stock is owned by corporate insiders.

BlackRock Stock Down 0.6%

Shares of NYSE:BLK opened at $1,113.87 on Friday. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,131.93. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The firm's 50-day simple moving average is $1,052.01 and its 200-day simple moving average is $984.72. The company has a market cap of $172.57 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.25 and a beta of 1.42.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the firm earned $10.36 earnings per share. The firm's revenue was up 12.9% compared to the same quarter last year. As a group, equities research analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. BlackRock's payout ratio is 50.39%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BLK shares. UBS Group restated a "neutral" rating and set a $980.00 price target on shares of BlackRock in a research note on Tuesday, July 8th. Bank of America lifted their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,115.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Telsey Advisory Group reissued an "outperform" rating on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company dropped their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,151.21.

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.

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