Sumitomo Life Insurance Co. Sells 110 Shares of BlackRock, Inc. (NYSE:BLK)

Sumitomo Life Insurance Co. decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,156 shares of the asset manager’s stock after selling 110 shares during the period. Sumitomo Life Insurance Co.’s holdings in BlackRock were worth $1,750,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Freedom Day Solutions LLC purchased a new position in BlackRock in the 4th quarter worth about $236,000. BHK Investment Advisors LLC purchased a new position in shares of BlackRock during the fourth quarter worth approximately $204,000. Crumly & Associates Inc. boosted its holdings in shares of BlackRock by 14.0% in the fourth quarter. Crumly & Associates Inc. now owns 848 shares of the asset manager’s stock valued at $688,000 after purchasing an additional 104 shares during the period. Louisiana State Employees Retirement System bought a new position in BlackRock in the fourth quarter worth approximately $6,900,000. Finally, YHB Investment Advisors Inc. raised its position in BlackRock by 1.6% during the 4th quarter. YHB Investment Advisors Inc. now owns 2,848 shares of the asset manager’s stock valued at $2,312,000 after purchasing an additional 46 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the sale, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the transaction, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Insiders sold a total of 100,511 shares of company stock valued at $71,864,028 in the last quarter. 0.90% of the stock is currently owned by company insiders.

BlackRock Stock Performance

BLK opened at $763.40 on Monday. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The company has a market cap of $113.70 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 1.65 and a beta of 1.37. The firm’s 50-day moving average price is $808.88 and its 200-day moving average price is $753.65.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. BlackRock’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $7.93 EPS. As a group, equities analysts anticipate that BlackRock, Inc. will post 41.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BLK. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Finally, UBS Group boosted their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $802.29.

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.