Erste Asset Management GmbH's Investment in BlackRock, Inc.

In the third quarter, Erste Asset Management GmbH made a significant investment in BlackRock, Inc. (NYSE:BLK - Free Report). According to their recent 13F filing with the Securities and Exchange Commission, Erste Asset Management purchased a new stake comprising 34,738 shares of BlackRock's stock, valued at approximately $32,904,000.

Following this investment, several other large investors have also reshaped their holdings in the asset management company. For instance, Pathway Financial Advisers LLC dramatically increased its stake in BlackRock by an astonishing 89,389.4% during the same quarter. After acquiring an additional 1,044,962 shares, Pathway Financial Advisers now holds a total of 1,046,131 shares, which are valued at about $993,312,000.

Another notable investor is International Assets Investment Management LLC, which expanded its holdings by an impressive 104,468.9%, ending up with 792,632 shares valued at $7,526,120,000 after buying an additional 791,874 shares last quarter. Similarly, FMR LLC raised its position by 10.6%, owning 2,363,965 shares now worth $2,244,608,000 after adding 226,135 shares.

Furthermore, B. Metzler seel. Sohn & Co. Holding AG established a new position in BlackRock worth around $115,377,000 during the third quarter. Additionally, Sarasin & Partners LLP increased its holdings by 174.8% in the preceding quarter, now owning 184,291 shares valued at $145,096,000.

In total, institutional investors now own 80.69% of BlackRock's stock.

BlackRock's Stock Performance

As of Friday, NYSE:BLK traded up 0.3%, opening at $1,022.80. BlackRock has a market capitalization of $158.41 billion, a price-to-earnings ratio of 25.24, and a price-to-earnings-growth ratio of 1.82. The company’s debt-to-equity ratio stands at 0.37, with a current ratio and quick ratio both at 5.06. Over the past 50 days, the stock has had a moving average price of $994.93, while its 200-day moving average price was $888.30. BlackRock's stock reached a one-year low of $742.22 and a one-year high of $1,068.34.

Recent Earnings and Dividends

On October 11th, BlackRock announced its quarterly earnings, reporting an adjusted earnings per share of $11.46, exceeding the consensus estimate of $10.42 by $1.04. The firm's revenue for the quarter was $5.20 billion, which also surpassed expectations of $5.03 billion. The year-over-year revenue increase was marked at 14.9%. Analysts predict that BlackRock will report an earnings per share of $43.18 for the current year.

Additionally, BlackRock recently announced a quarterly dividend that is set to be paid on December 23rd. Shareholders who own shares by December 5th will receive a dividend of $5.10, which translates to an annualized dividend of $20.40 and a yield of 1.99%. Currently, the company's payout ratio stands at 50.35%.

Analysts' Outlook

Various analysts have weighed in on BlackRock's stock. On October 3rd, The Goldman Sachs Group raised its price target on BlackRock from $960.00 to $1,040.00, giving the stock a buy rating. On October 21st, JPMorgan Chase & Co. also raised their price objective from $864.00 to $914.00, advising a neutral rating. Actually, three analysts have assigned a hold rating on the stock, while eleven provided a buy rating, resulting in a consensus rating of Moderate Buy with a target price of $1,019.62.

BlackRock, Inc. is a publicly traded investment management firm that caters to institutional, intermediary, and individual investors. Its clientele includes corporate, public, union, and industry pension plans, insurance firms, third-party mutual funds, endowments, public entities, governments, foundations, charities, sovereign wealth funds, and banks.

Investment, Stocks, BlackRock