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

In the latest 13F filing with the Securities and Exchange Commission, Erste Asset Management GmbH disclosed a new investment in BlackRock, Inc. (NYSE:BLK). This investment occurred in the third quarter of the year, where the firm purchased 34,738 shares of BlackRock, valuing the stake at approximately $32,904,000.

Investors Increasing Holdings

Erste Asset Management is not the only firm making moves with BlackRock stock. Other notable investors have also recently adjusted their stakes. Pathway Financial Advisers LLC made significant changes to their holdings, increasing their stake in BlackRock by an astounding 89,389.4%. Following this increase, Pathway Financial Advisers now owns 1,046,131 shares valued at around $993,312,000.

Similarly, International Assets Investment Management LLC grew its position by 104,468.9%, now holding 792,632 shares valued at approximately $7,526,120,000 after acquiring an additional 791,874 shares during the last quarter. FMR LLC also added to its investment in BlackRock, boosting its stake by 10.6%. They currently own 2,363,965 shares valued at about $2,244,608,000 after buying an extra 226,135 shares.

Additionally, B. Metzler seel. Sohn & Co. Holding AG entered the market with a new position in BlackRock valued at about $115,377,000. Sarasin & Partners LLP increased their stake by an impressive 174.8% in the previous quarter, now holding 184,291 shares valued at $145,096,000. Overall, institutional investors hold around 80.69% of BlackRock's total shares.

Current Stock Performance

On Friday, shares of BlackRock traded up by 0.3%, opening at $1,022.80. The company boasts a market capitalization of $158.41 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 1.82, and a beta of 1.30. BlackRock has established a debt-to-equity ratio of 0.37, with both current and quick ratios standing at 5.06.

Over the past year, BlackRock's stock has fluctuated, hitting a low of $742.22 and a high of $1,068.34. The company last released its quarterly earnings on October 11, where it reported an earnings per share (EPS) of $11.46, exceeding the consensus estimate of $10.42 by $1.04. BlackRock reported revenues of $5.20 billion for the quarter, outperforming the expected $5.03 billion. The company experienced a year-over-year revenue increase of 14.9%.

Dividend Announcement

Along with the positive earnings report, BlackRock also declared a quarterly dividend of $5.10, scheduled to be paid on December 23 to shareholders of record as of December 5. This dividend signifies an annualized payout of $20.40, reflecting a yield of 1.99%. Currently, BlackRock maintains a payout ratio of 50.35%.

Analyst Ratings and Expectations

Recent activity in analyst ratings provides positive outlooks for BlackRock. Goldman Sachs raised their price target from $960.00 to $1,040.00, assigning a "buy" rating on October 3. Similarly, JPMorgan Chase increased their price target from $864.00 to $914.00 with a "neutral" rating on October 21. In a report dated November 7, Evercore ISI lifted their target price from $1,040.00 to $1,160.00 while giving an "outperform" rating.

On October 14, Morgan Stanley increased their price target from $1,150.00 to $1,245.00 and recommended an "overweight" rating for the stock. Wells Fargo enhanced their price objective from $1,000.00 to $1,070.00 while assigning an "overweight" rating on October 9. Presently, market sentiment towards BlackRock's stock includes ratings of "hold" from three analysts and "buy" ratings from eleven analysts, resulting in a consensus rating of "Moderate Buy" with a price target averaging $1,019.62.

About BlackRock, Inc.

BlackRock, Inc. operates as a publicly owned investment manager, primarily serving a diverse range of clients including institutions, intermediaries, and individual investors. The firm caters to corporate and public pension plans, insurance companies, mutual funds, endowments, governments, and other entities.

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