Raiffeisen Bank International AG Cuts Holdings in BlackRock (NYSE:BLK)

Key Points

• Raiffeisen Bank International AG has reduced its stake in BlackRock by 35.1%, now holding 5,246 shares worth approximately $4.97 million.
• Several institutional investors have increased their holdings in BlackRock, including Fairway Wealth LLC, which grew its stake by 76.5% in the first quarter.
• BlackRock recently declared a quarterly dividend of $5.21 per share, which represents a 1.9% annual yield and will be paid on September 23rd.

Raiffeisen Bank International AG cut its stake in BlackRock (NYSE:BLK - Free Report) by 35.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,246 shares of the asset manager's stock after selling 2,833 shares during the period. Raiffeisen Bank International AG's holdings in BlackRock were worth $4,966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. GAMMA Investing LLC raised its position in 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 purchasing an additional 3,496,740 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 valued at $1,122,743,000 after acquiring an additional 876,836 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in BlackRock by 18.6% in the fourth quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock valued at $2,152,907,000 after acquiring an additional 329,244 shares during the last quarter. Northern Trust Corp raised its stake in BlackRock by 20.6% in the 4th quarter. Northern Trust Corp now owns 1,591,716 shares of the asset manager's stock valued at $1,631,684,000 after acquiring an additional 272,176 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of BlackRock during the fourth quarter worth approximately $225,481,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares of the company's stock, valued at $3,936,571.86. This represents a 55.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 14,828 shares of the business's stock in a transaction 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 transaction, the chief executive officer owned 263,751 shares in the company, valued at $296,002,472.28. This trade represents a 5.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock valued at $74,694,573 over the last three months. Insiders own 1.98% of the company's stock.

BlackRock Trading Down 0.6%

BlackRock stock traded down $6.23 during trading hours on Tuesday, reaching $1,109.83. The company had a trading volume of 481,260 shares, compared to its average volume of 676,875. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,130.66. The firm has a market cap of $171.95 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 2.25 and a beta of 1.42. 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 company has a 50-day moving average price of $1,043.68 and a 200 day moving average price of $982.13.

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

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 5th. BlackRock's payout ratio is presently 50.39%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BLK shares. Bank of America boosted their price target on BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. UBS Group reaffirmed a "neutral" rating and set a $980.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods lowered 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, July 16th. Argus reiterated a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $1,115.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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.