Sumitomo Mitsui DS Asset Management Company Ltd Purchases 299 Shares of BlackRock, Inc. (NYSE:BLK)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in BlackRock, Inc. (NYSE:BLK) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,329 shares of the asset manager’s stock after purchasing an additional 299 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in BlackRock were worth $16,454,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Axxcess Wealth Management LLC grew its holdings in shares of BlackRock by 35.8% during the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after buying an additional 1,248 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in BlackRock by 3.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock valued at $322,810,000 after acquiring an additional 14,477 shares during the last quarter. Oak Harvest Investment Services bought a new position in shares of BlackRock during the 1st quarter valued at approximately $6,735,000. Cetera Investment Advisers increased its stake in shares of BlackRock by 219.5% during the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after purchasing an additional 30,274 shares during the last quarter. Finally, M&G Plc purchased a new position in BlackRock in the first quarter valued at approximately $161,918,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Mark Wiedman sold 11,061 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. This represents a 0.00 % decrease in their ownership of the stock. 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 the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,042 shares of company stock worth $56,857,777. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,001.88 on Friday. The stock’s 50-day simple moving average is $912.43 and its two-hundred day simple moving average is $836.11. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $1,032.00. The firm has a market capitalization of $148.88 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.94 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

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

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a $5.10 dividend. The ex-dividend date was Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.04%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. TD Cowen increased their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Evercore ISI lifted their price objective on shares of BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Barclays increased their target price on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target 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.