Sompo Japan Nipponkoa Asset Management CO. LTD. boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 27.6% in the first quarter, HoldingsChannel.com reports. The fund owned 1,990 shares of the asset manager’s stock after acquiring an additional 430 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in BlackRock were worth $876,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Loomis Sayles & Co. L P raised its stake in shares of BlackRock by 11.8% during the 4th quarter. Loomis Sayles & Co. L P now owns 171 shares of the asset manager’s stock valued at $86,000 after buying an additional 18 shares during the last quarter. Seelaus Asset Management LLC raised its stake in shares of BlackRock by 3.8% during the 4th quarter. Seelaus Asset Management LLC now owns 545 shares of the asset manager’s stock valued at $274,000 after buying an additional 20 shares during the last quarter. Adirondack Trust Co. raised its stake in shares of BlackRock by 2.4% during the 4th quarter. Adirondack Trust Co. now owns 847 shares of the asset manager’s stock valued at $447,000 after buying an additional 20 shares during the last quarter. Tarbox Family Office Inc. raised its stake in shares of BlackRock by 2.6% during the 1st quarter. Tarbox Family Office Inc. now owns 793 shares of the asset manager’s stock valued at $349,000 after buying an additional 20 shares during the last quarter. Finally, FinTrust Capital Advisors LLC raised its stake in shares of BlackRock by 26.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 100 shares of the asset manager’s stock valued at $50,000 after buying an additional 21 shares during the last quarter. 81.50% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on the company. Citigroup lifted their price objective on BlackRock from $535.00 to $570.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Morgan Stanley lifted their price objective on BlackRock from $515.00 to $560.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. cut their price target on BlackRock from $526.00 to $524.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Barclays lifted their price target on BlackRock from $495.00 to $515.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Finally, ValuEngine upgraded BlackRock from a “sell” rating to a “hold” rating in a research note on Friday, March 13th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $510.91.
In related news, President Robert Kapito sold 88,799 shares of BlackRock stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $476.98, for a total value of $42,355,347.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark Wiedman sold 684 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $490.17, for a total value of $335,276.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,845 shares of company stock worth $46,894,663. 1.42% of the stock is currently owned by insiders.
BLK stock traded up $4.79 during trading on Friday, hitting $513.30. The stock had a trading volume of 632,652 shares, compared to its average volume of 2,400,958. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.08 and a quick ratio of 4.08. BlackRock, Inc. has a twelve month low of $323.98 and a twelve month high of $576.81. The stock has a market capitalization of $78.44 billion, a P/E ratio of 19.01, a PEG ratio of 1.96 and a beta of 1.28. The company’s 50-day moving average price is $476.24 and its two-hundred day moving average price is $489.56.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Thursday, April 16th. The asset manager reported $6.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.36 by $0.24. BlackRock had a return on equity of 13.62% and a net margin of 28.38%. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the firm posted $6.61 EPS. BlackRock’s revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts expect that BlackRock, Inc. will post 25.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 5th will be issued a $3.63 dividend. This represents a $14.52 annualized dividend and a yield of 2.83%. The ex-dividend date is Thursday, June 4th. BlackRock’s payout ratio is 50.98%.
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.
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