Sumitomo Mitsui DS Asset Management Company Ltd Has $20.69 Million Position in BlackRock $BLK

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in BlackRock by 4.5%, owning 19,717 shares worth approximately $20.69 million as of the latest SEC filing.
• BlackRock's quarterly earnings surpassed expectations, reporting $12.05 EPS against a consensus estimate of $10.41 EPS, with a significant 12.9% year-over-year increase in revenue.
• The company announced a quarterly dividend of $5.21 per share, representing an annual yield of 1.8% and a payout ratio of 50.39%.

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in BlackRock (NYSE:BLK - Free Report) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,717 shares of the asset manager's stock after buying an additional 843 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in BlackRock were worth $20,688,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. Fairway Wealth LLC boosted its position in BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after buying an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC lifted its position in shares of BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 15 shares in the last quarter. Garde Capital Inc. lifted its position in shares of BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock worth $28,000 after purchasing an additional 18 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in shares of BlackRock during the fourth quarter worth approximately $30,000. Finally, Cheviot Value Management LLC acquired a new position in shares of BlackRock during the first quarter worth approximately $30,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

NYSE:BLK traded up $5.63 during mid-day trading on Friday, reaching $1,142.76. 1,504,904 shares of the company's stock were exchanged, compared to its average volume of 445,605. BlackRock has a one year low of $773.74 and a one year high of $1,171.89. The firm has a market capitalization of $176.96 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 2.19 and a beta of 1.45. The business's fifty day simple moving average is $1,119.82 and its two-hundred day simple moving average is $1,013.18. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the firm earned $10.36 earnings per share. BlackRock's revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be issued a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the transaction, the director directly owned 61,369 shares of the company's stock, valued at $68,763,964.50. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the transaction, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock valued at $74,694,573 in the last 90 days. 1.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BLK shares. Barclays upped their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods reduced their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. Bank of America upped their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. Finally, UBS Group reissued a "neutral" rating and set a $980.00 price target on shares of BlackRock in a research note on Tuesday, July 8th. Twelve 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 company has an average rating of "Moderate Buy" and an average price target of $1,154.07.

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.