Elo Mutual Pension Insurance Co Sells 611 Shares of BlackRock, Inc. (NYSE:BLK)

Elo Mutual Pension Insurance Co lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,518 shares of the asset manager’s stock after selling 611 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in BlackRock were worth $13,857,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Oddo BHF Asset Management Sas bought a new stake in BlackRock in the 3rd quarter worth approximately $518,000. Amalgamated Bank lifted its holdings in BlackRock by 1.7% in the fourth quarter. Amalgamated Bank now owns 28,711 shares of the asset manager’s stock valued at $29,432,000 after acquiring an additional 489 shares during the period. Oregon Public Employees Retirement Fund boosted its position in BlackRock by 4.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager’s stock worth $12,793,000 after purchasing an additional 578 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of BlackRock during the 3rd quarter valued at about $32,904,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of BlackRock by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager’s stock valued at $67,038,000 after purchasing an additional 4,210 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the sale, the director now owns 68,433 shares of the company’s stock, valued at $73,403,973.12. This represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 20,430 shares of company stock worth $21,234,629. 0.90% of the stock is currently owned by insiders.

BlackRock Stock Performance

BLK opened at $968.79 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The stock has a market capitalization of $150.41 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.90 and a beta of 1.28. The company has a fifty day moving average of $980.33 and a 200 day moving average of $990.36. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,084.22.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the business posted $9.66 earnings per share. As a group, sell-side analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 2.15%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date was Friday, March 7th. BlackRock’s dividend payout ratio is 49.62%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BLK. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Citigroup raised their target price on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. UBS Group boosted their price target on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Barclays decreased their price objective on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Morgan Stanley boosted their price objective on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

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.