MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 130 Shares of BlackRock, Inc. (NYSE:BLK)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 41.5% in the 1st quarter, HoldingsChannel reports. The fund owned 183 shares of the asset manager’s stock after selling 130 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in BlackRock were worth $173,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in BlackRock by 104,598.9% during the first 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 bought a new stake in BlackRock during the fourth quarter worth $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in BlackRock by 401.5% during the fourth 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. Proficio Capital Partners LLC grew its holdings in BlackRock by 138,682.5% during the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock worth $634,000 after buying an additional 633,779 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in BlackRock during the fourth quarter worth $572,730,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the subject of several recent research reports. Barclays upped their price target on BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. TD Cowen cut their price objective on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company boosted their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. UBS Group cut their price objective on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Morgan Stanley cut their price objective on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,082.46.

BlackRock Stock Down 1.7%

Shares of NYSE BLK opened at $971.24 on Monday. BlackRock, Inc. has a one year low of $766.05 and a one year high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The business’s fifty day moving average price is $937.84 and its 200-day moving average price is $971.37. The stock has a market capitalization of $150.47 billion, a PE ratio of 23.12, a P/E/G ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.47 billion. During the same quarter in the prior year, the firm earned $9.81 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities research analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be issued a dividend of $5.21 per share. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.15%. BlackRock’s dividend payout ratio (DPR) is 50.63%.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the sale, the director now owns 66,034 shares of the company’s stock, valued at approximately $56,261,628.34. This represents a 2.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.98% of the stock is currently owned by insiders.

BlackRock 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.