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

In a recent filing with the Securities and Exchange Commission, Erste Asset Management GmbH disclosed that it has made a significant investment in BlackRock, Inc. (NYSE:BLK) during the third quarter. The firm acquired 34,738 shares of the renowned asset management company's stock, with a total value of approximately $32,904,000.

Increase in Holdings by Other Investors

Alongside Erste Asset Management, various other institutional investors have adjusted their stakes in BlackRock. Notably, Pathway Financial Advisers LLC saw a staggering increase of 89,389.4% in its investment, bringing its total ownership to 1,046,131 shares, valued at $993,312,000, after acquiring 1,044,962 additional shares in the last quarter. Similarly, International Assets Investment Management LLC grew its holdings by an astonishing 104,468.9%, now owning 792,632 shares worth $7,526,120,000 after purchasing 791,874 shares. FMR LLC also raised its position by 10.6%, which now amounts to 2,363,965 shares valued at $2,244,608,000.

B. Metzler seel. Sohn & Co. Holding AG entered the fray with a new position worth around $115,377,000, while Sarasin & Partners LLP increased its stake by 174.8% in the second quarter, owning 184,291 shares valued at $145,096,000 after acquiring an extra 117,218 shares. Cumulatively, hedge funds and other institutional investors now hold 80.69% of BlackRock's stock.

Current Trading Status of BlackRock

As of the last trading session, shares of BlackRock, Inc. opened at $1,022.80. The company has a market capitalization of $158.41 billion, with a price-to-earnings ratio of 25.24, indicating a P/E growth ratio of 1.82 and a beta of 1.30. Its current and quick ratios are both at 5.06, while the debt-to-equity ratio stands at 0.37. Over the last year, BlackRock's stock has fluctuated between a low of $742.22 and a high of $1,068.34.

BlackRock’s Recent Earnings Report

On October 11th, BlackRock reported its quarterly earnings, revealing an EPS of $11.46 that surpassed analysts' expectations of $10.42 by $1.04. The reported revenue stood at $5.20 billion, exceeding the forecast of $5.03 billion. The company showed a return on equity of 15.52% and a net margin of 31.37%. Compared to the previous year, its revenue has increased by 14.9%.

Dividend Announcement by BlackRock

In addition to the earnings report, BlackRock announced a quarterly dividend of $5.10 per share, set to be paid on December 23rd. Shareholders who are on record by December 5th will receive this payment, which translates to an annualized dividend of $20.40, representing a yield of 1.99%. At present, BlackRock's payout ratio is 50.35%.

Analyst Ratings and Predictions

Several analysts have recently updated their ratings for BlackRock shares. Goldman Sachs increased its target price from $960.00 to $1,040.00, giving a 'buy' rating. JPMorgan raised its price objective from $864.00 to $914.00, maintaining a 'neutral' rating. Evercore ISI upped the target to $1,160.00 with an 'outperform' rating, while Morgan Stanley set a new price target of $1,245.00 and an 'overweight' rating. Wells Fargo also revised its price target from $1,000.00 to $1,070.00. Currently, analysts categorize BlackRock with a consensus rating of 'Moderate Buy' alongside a consensus price target of $1,019.62.

Understanding BlackRock

BlackRock, Inc. is a publicly traded investment management firm. It caters to a wide array of clients, including institutional and individual investors, corporate and public pension plans, endowments, governments, and financial institutions.

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