Elo Mutual Pension Insurance Co Trims Stock Position in BlackRock, Inc. (NYSE:BLK)

Elo Mutual Pension Insurance Co decreased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,064 shares of the asset manager’s stock after selling 529 shares during the period. Elo Mutual Pension Insurance Co’s holdings in BlackRock were worth $10,286,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of BLK. Gilbert & Cook Inc. grew its stake in BlackRock by 4.8% in the fourth quarter. Gilbert & Cook Inc. now owns 1,366 shares of the asset manager’s stock worth $1,109,000 after purchasing an additional 62 shares during the period. Gryphon Financial Partners LLC purchased a new stake in shares of BlackRock in the fourth quarter worth $354,000. TrinityPoint Wealth LLC increased its holdings in shares of BlackRock by 3.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 1,380 shares of the asset manager’s stock valued at $1,120,000 after acquiring an additional 51 shares in the last quarter. D.A. Davidson & CO. grew its position in BlackRock by 5.8% during the 4th quarter. D.A. Davidson & CO. now owns 5,979 shares of the asset manager’s stock valued at $4,854,000 after purchasing an additional 330 shares during the last quarter. Finally, Corient Private Wealth LLC increased its stake in BlackRock by 31.2% during the 4th quarter. Corient Private Wealth LLC now owns 142,111 shares of the asset manager’s stock valued at $115,365,000 after purchasing an additional 33,796 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE:BLK opened at $904.83 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company has a market cap of $134.46 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 1.92 and a beta of 1.30. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $908.88. The stock’s 50 day simple moving average is $862.13 and its two-hundred day simple moving average is $815.73.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the firm posted $9.28 EPS. BlackRock’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BLK shares. Evercore ISI increased their price target on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Barclays boosted their price target on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Argus increased their price objective on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. TD Cowen decreased their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Finally, Morgan Stanley lowered their price target on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $902.13.

Insider Activity

In other news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on 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 transaction, the director now owns 5,732 shares in the company, valued at $4,826,802.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,042 shares of company stock worth $79,387,117. Corporate insiders own 0.90% of the company’s stock.

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.