BlackRock (NYSE:BLK) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in BlackRock (NYSE:BLK - Free Report) by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,874 shares of the asset manager's stock after acquiring an additional 270 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in BlackRock were worth $17,864,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in BlackRock by 6.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager's stock valued at $67,038,000 after purchasing an additional 4,210 shares during the period. Polar Capital Holdings Plc purchased a new position in shares of BlackRock during the 4th quarter valued at approximately $15,307,000. Community Financial Services Group LLC grew its stake in BlackRock by 17.2% in the 1st quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock valued at $5,397,000 after acquiring an additional 836 shares during the period. Kennedy Investment Group purchased a new stake in BlackRock in the 1st quarter worth $568,000. Finally, 3Chopt Investment Partners LLC acquired a new position in BlackRock during the first quarter worth $578,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Up 0.5%

NYSE BLK traded up $5.71 during trading hours on Thursday, reaching $1,076.28. The company had a trading volume of 342,586 shares, compared to its average volume of 692,908. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $166.75 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 3.20 and a beta of 1.41. The stock has a 50-day moving average of $973.12 and a 200 day moving average of $969.38. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period in the prior year, the business posted $9.81 EPS. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were paid a $5.21 dividend. The ex-dividend date was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.94%. BlackRock's payout ratio is presently 50.63%.

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director directly owned 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BLK. Wells Fargo & Company lifted their target price on shares of BlackRock from $1,105.00 to $1,180.00 and gave the company an "overweight" rating in a research report on Thursday. UBS Group lowered their price objective on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. TD Cowen reduced their target price on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. The Goldman Sachs Group raised their target price on BlackRock from $994.00 to $1,115.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, Barclays boosted their price target on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,110.92.

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.