Sumitomo Life Insurance Co. Has $1.80 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Sumitomo Life Insurance Co. increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,891 shares of the asset manager’s stock after buying an additional 23 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in BlackRock were worth $1,796,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. NBC Securities Inc. increased its stake in BlackRock by 8.0% during the 1st quarter. NBC Securities Inc. now owns 1,136 shares of the asset manager’s stock worth $947,000 after purchasing an additional 84 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of BlackRock by 1,384.6% in the first quarter. Los Angeles Capital Management LLC now owns 11,773 shares of the asset manager’s stock valued at $9,815,000 after buying an additional 10,980 shares during the period. First Hawaiian Bank bought a new stake in shares of BlackRock during the first quarter worth $200,000. Farmers Trust Co. acquired a new stake in shares of BlackRock during the first quarter worth $218,000. Finally, Legacy Private Trust Co. raised its holdings in shares of BlackRock by 4.3% during the first quarter. Legacy Private Trust Co. now owns 2,152 shares of the asset manager’s stock worth $1,794,000 after acquiring an additional 89 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,042 shares of company stock worth $56,857,777 in the last 90 days. Company insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of BLK opened at $1,015.70 on Thursday. The firm has a market capitalization of $150.93 billion, a PE ratio of 25.81, a PEG ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company’s 50-day moving average is $909.48 and its 200-day moving average is $834.95. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $1,019.22.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.42 by $1.04. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. BlackRock’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the company posted $10.91 earnings per share. Equities analysts forecast that BlackRock, Inc. will post 41.73 EPS for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BLK. Keefe, Bruyette & Woods upped their target price on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Barclays upped their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday. Argus lifted their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, TD Cowen raised their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $991.46.

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.