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

Assenagon Asset Management S.A. purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 322,562 shares of the asset manager’s stock, valued at approximately $330,662,000. BlackRock accounts for about 0.5% of Assenagon Asset Management S.A.’s portfolio, making the stock its 24th largest position.

A number of other hedge funds have also added to or reduced their stakes in BLK. Dimensional Fund Advisors LP raised its holdings in shares of BlackRock by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 397,641 shares of the asset manager’s stock worth $313,063,000 after buying an additional 20,692 shares in the last quarter. One Capital Management LLC grew its position in BlackRock by 31.7% in the second quarter. One Capital Management LLC now owns 324 shares of the asset manager’s stock valued at $255,000 after acquiring an additional 78 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in BlackRock by 325.9% during the second quarter. Citizens Financial Group Inc. RI now owns 2,266 shares of the asset manager’s stock worth $1,784,000 after acquiring an additional 1,734 shares in the last quarter. Luts & Greenleigh Group Inc. bought a new position in shares of BlackRock in the second quarter worth about $254,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of BlackRock in the 2nd quarter valued at approximately $383,000. 80.69% of the stock is owned by institutional investors.

BlackRock Price Performance

Shares of BLK opened at $962.75 on Wednesday. The business has a 50-day moving average of $1,029.20 and a 200-day moving average of $943.81. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45. The company has a market capitalization of $149.11 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock Announces Dividend

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

Wall Street Analyst Weigh In

BLK has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of BlackRock from $1,245.00 to $1,261.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Wells Fargo & Company lowered their price target on shares of BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. raised their price objective on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Barclays cut their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $1,088.67.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the 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 transaction of $37,851,121.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, 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.

About BlackRock

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.