Mitsubishi UFJ Asset Management UK Ltd. Invests $1.33 Million in BlackRock (NYSE:BLK)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. has invested approximately $1.33 million in BlackRock, purchasing 1,400 shares.
• BlackRock's recent quarterly earnings report showed an EPS of $12.05, exceeding analysts' expectations of $10.41, with a revenue of $5.42 billion.
• The company declared a quarterly dividend of $5.21 per share, representing an annualized yield of 1.8% and a payout ratio of 50.39%.

Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in BlackRock (NYSE:BLK - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 1,400 shares of the asset manager's stock, valued at approximately $1,325,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock valued at $13,027,419,000 after buying an additional 387,466 shares in the last quarter. Capital World Investors lifted its stake in BlackRock by 2.3% in the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock worth $4,200,450,000 after purchasing an additional 93,844 shares in the last quarter. GAMMA Investing LLC lifted its stake in BlackRock by 104,598.9% in the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after purchasing an additional 3,496,740 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in BlackRock by 18.6% in the 4th quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock worth $2,152,907,000 after purchasing an additional 329,244 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in BlackRock by 20.6% in the 4th quarter. Northern Trust Corp now owns 1,591,716 shares of the asset manager's stock worth $1,631,684,000 after purchasing an additional 272,176 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Price Performance

BlackRock stock opened at $1,159.78 on Thursday. The stock has a market cap of $179.68 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 2.33 and a beta of 1.42. The company has a fifty day simple moving average of $1,064.92 and a 200-day simple moving average of $988.28. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,171.89. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same period in the previous year, the company earned $10.36 EPS. The company's revenue for the quarter was up 12.9% on a year-over-year basis. Equities analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a $5.21 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. BlackRock's payout ratio is 50.39%.

Analyst Ratings Changes

BLK has been the topic of a number of research reports. Telsey Advisory Group reissued an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. The Goldman Sachs Group restated a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Bank of America raised their price target on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods cut their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,151.21.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 17,142 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares of the company's stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Laurence Fink sold 12,054 shares of BlackRock stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the completion of the transaction, the chief executive officer owned 251,697 shares in the company, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock valued at $74,694,573 in the last ninety days. 1.98% of the stock is currently owned by insiders.

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.

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