BlackRock (NYSE:BLK) Stake Lessened by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp has reduced its stake in BlackRock by 4.9%, now owning approximately 0.05% of the company's shares, valued at $74.46 million.
• Several large investors have modified their holdings in BlackRock, with significant increases from firms like Baker Avenue Asset Management and Jefferies Financial Group increasing their stakes by 57.5% and 2,812.8%, respectively.
• BlackRock announced a quarterly dividend of $5.21 per share, with the dividend yield currently at 1.9%, indicating a healthy payout ratio of 50.39%.

Mitsubishi UFJ Trust & Banking Corp lowered its position in BlackRock (NYSE:BLK - Free Report) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,670 shares of the asset manager's stock after selling 4,068 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.05% of BlackRock worth $74,460,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BLK. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of BlackRock by 4.5% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock valued at $263,000 after purchasing an additional 11 shares in the last quarter. Detalus Advisors LLC raised its stake in shares of BlackRock by 2.8% in the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock valued at $387,000 after purchasing an additional 11 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its stake in shares of BlackRock by 20.4% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager's stock valued at $62,000 after purchasing an additional 11 shares in the last quarter. Jump Financial LLC raised its stake in shares of BlackRock by 1.6% in the 4th quarter. Jump Financial LLC now owns 786 shares of the asset manager's stock valued at $806,000 after purchasing an additional 12 shares in the last quarter. Finally, Rothschild Investment LLC raised its stake in shares of BlackRock by 2.1% in the 1st quarter. Rothschild Investment LLC now owns 579 shares of the asset manager's stock valued at $548,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Performance

NYSE BLK traded down $7.70 on Tuesday, hitting $1,108.37. The stock had a trading volume of 59,156 shares, compared to its average volume of 777,482. BlackRock has a one year low of $773.74 and a one year high of $1,130.66. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market cap of $171.71 billion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 2.21 and a beta of 1.42. The company's 50-day moving average is $1,043.68 and its two-hundred day moving average is $982.13.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 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 15.83%. The firm had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter in the prior year, the firm earned $10.36 EPS. BlackRock's quarterly revenue was up 12.9% on a year-over-year basis. On average, analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a $5.21 dividend. The ex-dividend date is Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.9%. BlackRock's dividend payout ratio is 50.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BLK shares. Jefferies Financial Group upped their target price on shares of BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. Barclays increased their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Bank of America increased their price objective on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, UBS Group reiterated a "neutral" rating and set a $980.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,151.21.

Insider Activity

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the transaction, the director owned 19,205 shares in the company, valued at approximately $21,617,148. This represents a 48.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the transaction, the director owned 61,369 shares of the company's stock, valued at $68,763,964.50. This trade represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 in the last quarter. Company insiders own 1.98% 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.