Allianz SE Increases Stake in BlackRock $BLK

Allianz SE increased its stake in BlackRock (NYSE:BLK) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,119 shares of the asset manager’s stock after acquiring an additional 94 shares during the period. Allianz SE’s holdings in BlackRock were worth $11,667,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Garde Capital Inc. grew its position in shares of BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after buying an additional 18 shares during the last quarter. Whipplewood Advisors LLC boosted its holdings in BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after acquiring an additional 15 shares in the last quarter. Game Plan Financial Advisors LLC raised its holdings in BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after buying an additional 15 shares during the last quarter. Creekmur Asset Management LLC increased its holdings in shares of BlackRock by 87.5% in the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after purchasing an additional 14 shares in the last quarter. Finally, Mid American Wealth Advisory Group Inc. bought a new position in BlackRock during the 2nd quarter valued at about $34,000. 80.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other BlackRock news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the transaction, the director owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BLK shares. BNP Paribas Exane raised their target price on BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Loop Capital set a $1,255.00 price objective on shares of BlackRock in a report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft set a $1,320.00 target price on shares of BlackRock and gave the company a “buy” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group raised their target price on shares of BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, Jefferies Financial Group upped their price target on shares of BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,303.41.

BlackRock Price Performance

Shares of BLK opened at $1,093.04 on Thursday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The firm has a market capitalization of $169.26 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The company’s fifty day moving average price is $1,129.00 and its 200-day moving average price is $1,073.06.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. BlackRock’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $11.46 EPS. On average, equities research analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Company 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.