Sumitomo Mitsui Financial Group Inc. Purchases 2,347 Shares of BlackRock $BLK

Key Points

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Sumitomo Mitsui Financial Group Inc. increased its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,695 shares of the asset manager's stock after acquiring an additional 2,347 shares during the period. Sumitomo Mitsui Financial Group Inc.'s holdings in BlackRock were worth $18,641,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BLK. Detalus Advisors LLC raised its stake in shares of BlackRock by 2.8% during the first quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock worth $387,000 after buying an additional 11 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its stake in shares of BlackRock by 20.4% during the first quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager's stock worth $62,000 after buying an additional 11 shares during the last quarter. Jump Financial LLC raised its stake in shares of BlackRock by 1.6% during the fourth quarter. Jump Financial LLC now owns 786 shares of the asset manager's stock worth $806,000 after buying an additional 12 shares during the last quarter. Rothschild Investment LLC raised its stake in shares of BlackRock by 2.1% during the first quarter. Rothschild Investment LLC now owns 579 shares of the asset manager's stock worth $548,000 after buying an additional 12 shares during the last quarter. Finally, Financial Management Professionals Inc. raised its stake in shares of BlackRock by 3.0% during the first quarter. Financial Management Professionals Inc. now owns 451 shares of the asset manager's stock worth $427,000 after buying an additional 13 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares of the company's stock, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the transaction, the director directly owned 3,506 shares in the company, valued at approximately $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock worth $74,694,573 over the last ninety days. Corporate insiders own 1.98% of the company's stock.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of analyst reports. UBS Group restated a "neutral" rating and set a $980.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Morgan Stanley decreased their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a report on Wednesday, July 16th. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Bank of America upped their price target on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company reduced their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a report on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,151.21.

BlackRock Stock Up 2.1%

Shares of NYSE BLK traded up $23.1220 during mid-day trading on Friday, hitting $1,147.8720. The company had a trading volume of 433,646 shares, compared to its average volume of 756,571. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The firm has a 50-day simple moving average of $1,082.48 and a two-hundred day simple moving average of $991.86. The company has a market capitalization of $177.75 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 2.16 and a beta of 1.42. BlackRock has a one year low of $773.74 and a one year high of $1,171.89.

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

BlackRock Announces Dividend

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

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.