Sumitomo Mitsui Financial Group Inc. Has $18.64 Million Stake in BlackRock $BLK

Sumitomo Mitsui Financial Group Inc. lifted its position in shares of BlackRock (NYSE:BLK) by 13.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,695 shares of the asset manager’s stock after purchasing an additional 2,347 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in BlackRock were worth $18,641,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Detalus Advisors LLC raised its position in BlackRock by 2.8% in the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager’s stock valued at $387,000 after buying an additional 11 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its position in BlackRock by 20.4% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager’s stock valued at $62,000 after buying an additional 11 shares during the last quarter. Jump Financial LLC grew its stake in BlackRock by 1.6% in the 4th quarter. Jump Financial LLC now owns 786 shares of the asset manager’s stock valued at $806,000 after purchasing an additional 12 shares during the period. Rothschild Investment LLC grew its stake in BlackRock by 2.1% in the 1st quarter. Rothschild Investment LLC now owns 579 shares of the asset manager’s stock valued at $548,000 after purchasing an additional 12 shares during the period. Finally, Financial Management Professionals Inc. grew its stake in BlackRock by 3.0% in the 1st quarter. Financial Management Professionals Inc. now owns 451 shares of the asset manager’s stock valued at $427,000 after purchasing an additional 13 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BLK shares. Barclays upped their price objective on BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods reduced their price objective on BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a research note on Wednesday, July 16th. The Goldman Sachs Group restated a “buy” rating and issued a $1,115.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. UBS Group restated a “neutral” rating and issued a $980.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. upped their price objective on BlackRock from $1,018.00 to $1,093.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,151.21.

BlackRock Stock Up 0.1%

BLK stock opened at $1,136.35 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The company has a market capitalization of $175.96 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 2.28 and a beta of 1.42. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,171.89. The stock has a fifty day moving average of $1,074.33 and a 200-day moving average of $989.18.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.36 EPS. As a group, equities research analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

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

Insider Buying and Selling

In related news, Director Rachel Lord sold 18,036 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the sale, the director owned 19,205 shares of the company’s stock, valued at approximately $21,617,148. This represents a 48.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the sale, the director directly owned 3,506 shares in the company, valued at $3,936,571.86. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,494 shares of company stock worth $74,694,573. Company insiders own 1.98% of the company’s stock.

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.