Flossbach Von Storch SE Sells 30,142 Shares of BlackRock (NYSE:BLK)

Flossbach Von Storch SE cut its holdings in BlackRock (NYSE:BLK - Free Report) by 15.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,929 shares of the asset manager's stock after selling 30,142 shares during the period. Flossbach Von Storch SE owned about 0.11% of BlackRock worth $157,995,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. IAG Wealth Partners LLC acquired a new stake in BlackRock in the fourth quarter valued at $26,000. Investment Management Corp VA ADV acquired a new stake in BlackRock in the fourth quarter valued at $30,000. Fairway Wealth LLC increased its position in shares of BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 13 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in BlackRock during the 1st quarter worth $31,000. Finally, Curio Wealth LLC purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $41,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were 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 in the company, valued at $60,256,025. This represents a 13.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.98% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BLK shares. Telsey Advisory Group reaffirmed an "outperform" rating on shares of BlackRock in a report on Tuesday. Morgan Stanley reiterated an "overweight" rating and issued a $1,164.00 price target on shares of BlackRock in a report on Tuesday. TD Cowen decreased their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company restated an "overweight" rating on shares of BlackRock in a research note on Tuesday. Finally, Citigroup lowered their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,108.62.

BlackRock Price Performance

Shares of BLK traded up $12.09 during trading hours on Wednesday, hitting $1,087.11. 337,410 shares of the company were exchanged, compared to its average volume of 694,027. BlackRock has a one year low of $773.74 and a one year high of $1,088.28. The company has a market capitalization of $168.43 billion, a PE ratio of 26.41, a PEG ratio of 3.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The firm has a fifty day simple moving average of $986.01 and a 200-day simple moving average of $970.03.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $9.81 earnings per share. As a group, sell-side analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were given a $5.21 dividend. The ex-dividend date was Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.92%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

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.