UniSuper Management Pty Ltd Sells 18,473 Shares of BlackRock $BLK

Key Points

• UniSuper Management Pty Ltd sold 18,473 shares of BlackRock, reducing its holdings by 66% to 9,536 shares, valued at approximately $9 million.
• BlackRock reported a quarterly EPS of $12.05, surpassing analysts' expectations of $10.41, and had a revenue of $5.42 billion, a 12.9% increase compared to the previous year.
• The company declared a quarterly dividend of $5.21 per share, set to be distributed on September 23rd, indicating a yield of 1.9%.

UniSuper Management Pty Ltd lessened its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 66.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,536 shares of the asset manager's stock after selling 18,473 shares during the period. UniSuper Management Pty Ltd's holdings in BlackRock were worth $9,026,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC raised its stake in shares of BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after acquiring an additional 13 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of BlackRock in the 4th quarter valued at $30,000. Cheviot Value Management LLC bought a new stake in shares of BlackRock during the first quarter worth $30,000. MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock during the first quarter valued at $31,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in BlackRock in the first quarter valued at about $34,000. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Down 0.9%

BlackRock stock opened at $1,099.21 on Monday. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,171.89. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $1,110.95 and a 200-day moving average of $1,002.29. The stock has a market capitalization of $170.21 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 2.10 and a beta of 1.45.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the firm earned $10.36 EPS. BlackRock's revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities research analysts anticipate 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. Shareholders of record on Friday, September 5th will be paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

Wall Street Analyst Weigh In

BLK has been the subject of several recent research reports. Zacks Research cut BlackRock from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Barclays increased their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. UBS Group reiterated a "neutral" rating and set a $980.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Telsey Advisory Group reiterated an "outperform" rating on shares of BlackRock in a research report on Tuesday, July 8th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $1,115.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,154.07.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Fabrizio Freda sold 4,434 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the transaction, the director owned 3,506 shares in the company, valued at $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by company insiders.

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.

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