Norinchukin Bank The Has $6.82 Million Stake in BlackRock, Inc. (NYSE:BLK)

Norinchukin Bank The grew its stake in BlackRock, Inc. (NYSE:BLK) by 14.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,653 shares of the asset manager’s stock after purchasing an additional 817 shares during the period. Norinchukin Bank The’s holdings in BlackRock were worth $6,820,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S lifted its stake in BlackRock by 62.2% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,038 shares of the asset manager’s stock valued at $6,190,000 after purchasing an additional 2,315 shares during the last quarter. Capital International Inc. CA lifted its stake in shares of BlackRock by 36.6% in the 4th quarter. Capital International Inc. CA now owns 40,305 shares of the asset manager’s stock valued at $41,317,000 after acquiring an additional 10,798 shares during the last quarter. Capital World Investors boosted its holdings in shares of BlackRock by 2.3% during the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock valued at $4,200,450,000 after acquiring an additional 93,844 shares in the last quarter. Coastline Trust Co bought a new stake in BlackRock during the 4th quarter worth $1,407,000. Finally, Curi RMB Capital LLC increased its holdings in BlackRock by 16.9% in the 4th quarter. Curi RMB Capital LLC now owns 16,136 shares of the asset manager’s stock worth $16,541,000 after purchasing an additional 2,338 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the sale, the director now owns 68,433 shares of the company’s stock, valued at approximately $73,403,973.12. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 20,430 shares of company stock worth $21,234,629 over the last quarter. 0.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Bank of America reduced their price target on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Morgan Stanley reduced their target price on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Wells Fargo & Company dropped their price target on shares of BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lowered their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,077.08.

BlackRock Stock Performance

NYSE:BLK opened at $875.86 on Friday. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,084.22. The company has a fifty day moving average of $930.31 and a 200-day moving average of $985.45. The firm has a market capitalization of $135.98 billion, a P/E ratio of 20.85, a P/E/G ratio of 1.90 and a beta of 1.38.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.81 earnings per share. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were issued a $5.21 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $20.84 annualized dividend and a yield of 2.38%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is presently 50.63%.

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.