Erste Asset Management GmbH Invests $32.90 Million in BlackRock, Inc.

Erste Asset Management GmbH has recently made headlines by investing in BlackRock, Inc. (NYSE:BLK - Free Report) during the third quarter. According to a recent filing with the Securities and Exchange Commission, Erste Asset Management acquired 34,738 shares of BlackRock's stock, which is valued at approximately $32,904,000.

Other large investors have also changed their positions in BlackRock recently. For instance, Pathway Financial Advisers LLC significantly increased its stake in the company by an astonishing 89,389.4%, now holding 1,046,131 shares worth about $993,312,000 after adding 1,044,962 shares in the last quarter. International Assets Investment Management LLC also expanded its holdings in BlackRock, growing its possession by 104,468.9% during the same period. This firm now holds 792,632 shares valued at approximately $7,526,120,000 after acquiring 791,874 additional shares.

FMR LLC also raised its investment in BlackRock by 10.6%, now owning 2,363,965 shares valued at around $2,244,608,000 after acquiring 226,135 more shares in the last quarter. Additionally, B. Metzler seel. Sohn & Co. Holding AG took a new position in BlackRock worth about $115,377,000 in the third quarter. Furthermore, Sarasin & Partners LLP increased its stake in the company by 174.8% during the second quarter, now owning 184,291 shares valued at $145,096,000 after purchasing an additional 117,218 shares. Currently, institutional and hedge fund investors collectively own 80.69% of BlackRock's stock.

BlackRock Stock Performance

As of last Friday, NYSE:BLK opened at $1,022.80. The company has a total market capitalization of $158.41 billion. It displays a price-to-earnings ratio of 25.24 and a price-to-earnings-growth ratio of 1.82, along with a beta of 1.30. Its debt-to-equity ratio is 0.37, and both the current and quick ratios are 5.06. BlackRock's stock has shown a fifty-day moving average price of $994.93 and a 200-day moving average price of $888.30. Over the past year, the stock has ranged between a low of $742.22 and a high of $1,068.34.

BlackRock's Recent Earnings and Dividend Announcement

BlackRock recently disclosed its quarterly earnings on October 11th. The asset management giant reported earnings of $11.46 per share for the quarter, surpassing the consensus estimate of $10.42 by $1.04. The revenue for the quarter was $5.20 billion, exceeding the expected $5.03 billion. The company achieved a return on equity of 15.52% and a net margin of 31.37%. Compared to the same quarter last year, revenue increased by 14.9%, as the previous year's earnings per share were $10.91. Analysts predict that BlackRock will post an earnings per share of 43.18 for the current year.

Additionally, BlackRock declared a quarterly dividend, to be paid on December 23rd. Shareholders on record as of December 5th will receive a dividend of $5.10 per share, marking an annualized amount of $20.40, which equates to a dividend yield of 1.99%. The company's payout ratio currently stands at 50.35%.

Updates on Analyst Ratings

Several analysts have shared their opinions regarding BlackRock's shares. The Goldman Sachs Group recently raised their target price from $960.00 to $1,040.00, rating it as a "buy" on October 3rd. Similarly, JPMorgan Chase & Co. increased their price objective from $864.00 to $914.00, giving it a "neutral" rating on October 21st. Additionally, Evercore ISI boosted their target from $1,040.00 to $1,160.00, rating it "outperform" on November 7th. Morgan Stanley raised its price target from $1,150.00 to $1,245.00, citing an "overweight" rating on October 14th. Wells Fargo & Company also increased their price target from $1,000.00 to $1,070.00, giving it an "overweight" rating on October 9th. Currently, three analysts rate the stock as a hold, while eleven have rated it as a buy. The consensus rating is categorized as "Moderate Buy" with a consensus price target of $1,019.62.

Company Overview

BlackRock, Inc. is a prominent investment management firm. It mainly serves a variety of clients, including institutional investors, mutual funds, pension plans, governments, and other organizations, alongside individual investors.

Investment, Stocks, Earnings