B. Metzler seel. Sohn & Co. Holding AG Makes New $115.38 Million Investment in BlackRock, Inc. (NYSE:BLK)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 3rd quarter, Holdings Channel reports. The firm purchased 121,512 shares of the asset manager’s stock, valued at approximately $115,377,000. BlackRock comprises approximately 1.1% of B. Metzler seel. Sohn & Co. Holding AG’s holdings, making the stock its 18th largest holding.

Several other hedge funds also recently made changes to their positions in the business. SouthState Corp grew its stake in shares of BlackRock by 25.9% during the 3rd quarter. SouthState Corp now owns 1,251 shares of the asset manager’s stock worth $1,188,000 after acquiring an additional 257 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co grew its stake in shares of BlackRock by 0.9% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 16,164 shares of the asset manager’s stock worth $15,348,000 after acquiring an additional 145 shares in the last quarter. Princeton Capital Management LLC bought a new position in shares of BlackRock during the 3rd quarter worth approximately $201,000. Fifth Third Wealth Advisors LLC grew its stake in shares of BlackRock by 20.4% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after acquiring an additional 565 shares in the last quarter. Finally, BIP Wealth LLC bought a new position in shares of BlackRock during the 3rd quarter worth approximately $234,000. 80.69% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by company insiders.

BlackRock Trading Up 0.2 %

Shares of BlackRock stock opened at $1,049.97 on Tuesday. The firm has a 50-day moving average of $972.48 and a 200-day moving average of $873.69. The stock has a market cap of $162.62 billion, a PE ratio of 25.91, a PEG ratio of 1.87 and a beta of 1.30. BlackRock, Inc. has a 52-week low of $712.11 and a 52-week high of $1,068.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.91 earnings per share. As a group, sell-side analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BLK. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company boosted their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Barclays boosted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. StockNews.com began coverage on shares of BlackRock in a report on Wednesday, November 13th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group upped their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average target price of $1,019.62.

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.