Assenagon Asset Management S.A. Takes $330.66 Million Position in BlackRock, Inc. (NYSE:BLK)

Assenagon Asset Management S.A. acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 322,562 shares of the asset manager’s stock, valued at approximately $330,662,000. BlackRock accounts for 0.5% of Assenagon Asset Management S.A.’s portfolio, making the stock its 24th largest position. Assenagon Asset Management S.A. owned about 0.21% of BlackRock as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BLK. FSA Wealth Management LLC bought a new position in shares of BlackRock during the 3rd quarter worth approximately $26,000. Fairscale Capital LLC bought a new position in BlackRock in the second quarter valued at $31,000. Reston Wealth Management LLC acquired a new stake in BlackRock in the 3rd quarter valued at $37,000. MFA Wealth Advisors LLC lifted its position in BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares in the last quarter. Finally, Modus Advisors LLC acquired a new position in shares of BlackRock during the 4th quarter worth about $48,000. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on BLK shares. Morgan Stanley lifted their target price on BlackRock from $1,245.00 to $1,261.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Keefe, Bruyette & Woods lowered their price target on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday. Wells Fargo & Company cut their price objective on BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. StockNews.com assumed coverage on shares of BlackRock in a report on Wednesday, January 8th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,088.67.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the transaction, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.8 %

Shares of BLK stock opened at $962.75 on Wednesday. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,082.45. The company has a market capitalization of $149.11 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.28. The firm has a 50 day moving average price of $1,029.20 and a two-hundred day moving average price of $943.81. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were paid a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.12%. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

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.