Sompo Japan Nipponkoa Asset Management CO. LTD. Boosts Stake in BlackRock, Inc. (NYSE:BLK)

Sompo Japan Nipponkoa Asset Management CO. LTD. lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 27.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,990 shares of the asset manager’s stock after purchasing 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 Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Virtus ETF Advisers LLC purchased a new position in shares of BlackRock in the fourth quarter worth $25,000. Hall Laurie J Trustee purchased a new position in shares of BlackRock in the fourth quarter worth $25,000. Carmichael Hill & Associates Inc. purchased a new position in shares of BlackRock in the fourth quarter worth $27,000. Engrave Wealth Partners LLC purchased a new position in shares of BlackRock in the fourth quarter worth $30,000. Finally, Central Bank & Trust Co. purchased a new position in shares of BlackRock in the first quarter worth $28,000. Hedge funds and other institutional investors own 81.50% of the company’s stock.

In related news, Director Rachel Lord sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $499.31, for a total transaction of $1,497,930.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Robert Kapito sold 88,799 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $476.98, for a total value of $42,355,347.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,845 shares of company stock valued at $46,894,663. Corporate insiders own 1.42% of the company’s stock.

Several research analysts have recently weighed in on BLK shares. Deutsche Bank boosted their price target on BlackRock from $487.00 to $488.00 and gave the stock a “hold” rating in a research note on Friday, May 15th. Wells Fargo & Co upped their price objective on BlackRock from $495.00 to $530.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Morgan Stanley upped their price objective on BlackRock from $515.00 to $560.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. ValuEngine upgraded BlackRock from a “sell” rating to a “hold” rating in a research report on Friday, March 13th. Finally, Bank of America reduced their price objective on BlackRock from $485.00 to $383.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $510.91.

BLK traded up $4.79 during midday trading on Friday, reaching $513.30. The company had a trading volume of 632,652 shares, compared to its average volume of 2,400,958. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average of $476.24 and a two-hundred day moving average of $489.56. The company has a market cap of $78.44 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.96 and a beta of 1.28. BlackRock, Inc. has a 1 year low of $323.98 and a 1 year high of $576.81.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Thursday, April 16th. The asset manager reported $6.60 earnings per share for the quarter, topping analysts’ consensus estimates of $6.36 by $0.24. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.68 billion. BlackRock had a return on equity of 13.62% and a net margin of 28.38%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.61 earnings per share. On average, equities research analysts predict that BlackRock, Inc. will post 25.93 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be paid a $3.63 dividend. This represents a $14.52 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Thursday, June 4th. BlackRock’s dividend payout ratio (DPR) is 50.98%.

About BlackRock

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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