Dai ichi Life Insurance Company Ltd Has $9.89 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Dai ichi Life Insurance Company Ltd cut its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 8.8% in the 3rd quarter, Holdings Channel reports. The firm owned 10,417 shares of the asset manager’s stock after selling 1,008 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in BlackRock were worth $9,891,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of BLK. Marino Stram & Associates LLC raised its holdings in shares of BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after buying an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its stake in shares of BlackRock by 3.5% in the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after buying an additional 11 shares during the period. Ballentine Partners LLC increased its position in shares of BlackRock by 0.3% in the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after acquiring an additional 11 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in BlackRock by 0.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after buying an additional 11 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in BlackRock by 0.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock worth $1,447,000 after purchasing an additional 11 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

BLK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price target on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com started coverage on BlackRock in a research report on Thursday, November 21st. They issued a “hold” rating on the stock. Morgan Stanley boosted their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group boosted their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, TD Cowen upped their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Trading Down 0.5 %

Shares of NYSE BLK opened at $1,031.49 on Tuesday. The business’s 50 day moving average price is $987.00 and its 200-day moving average price is $882.60. BlackRock, Inc. has a fifty-two week low of $724.54 and a fifty-two week high of $1,068.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a market cap of $159.76 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.85 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm posted $10.91 EPS. On average, sell-side analysts expect that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, December 5th. BlackRock’s dividend payout ratio is 50.35%.

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.