Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 13.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 94,145 shares of the asset manager’s stock after selling 15,226 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in BlackRock were worth $82,381,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of BLK. Column Capital Advisors LLC grew its position in shares of BlackRock by 24,840.7% during the 1st quarter. Column Capital Advisors LLC now owns 2,703,325 shares of the asset manager’s stock worth $2,703,000 after buying an additional 2,692,486 shares during the period. BlackRock Inc. grew its position in shares of BlackRock by 1.5% during the 1st quarter. BlackRock Inc. now owns 9,846,763 shares of the asset manager’s stock worth $7,424,066,000 after buying an additional 147,821 shares during the period. Mn Services Vermogensbeheer B.V. bought a new position in BlackRock during the 2nd quarter worth approximately $82,772,000. M&G Investment Management Ltd. boosted its stake in BlackRock by 206.3% during the 1st quarter. M&G Investment Management Ltd. now owns 160,838 shares of the asset manager’s stock worth $121,272,000 after acquiring an additional 108,322 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in BlackRock by 98.8% during the 2nd quarter. Toronto Dominion Bank now owns 192,225 shares of the asset manager’s stock worth $87,487,000 after acquiring an additional 95,552 shares during the last quarter. Institutional investors own 78.13% of the company’s stock.
In other news, Director Mark Wiedman sold 175 shares of the business’s stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $884.50, for a total value of $154,787.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Christopher J. Meade sold 2,106 shares of the business’s stock in a transaction dated Tuesday, July 20th. The shares were sold at an average price of $877.24, for a total transaction of $1,847,467.44. The disclosure for this sale can be found here. 1.16% of the stock is owned by insiders.
BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, July 13th. The asset manager reported $10.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $9.33 by $0.70. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.61 billion. BlackRock had a net margin of 30.39% and a return on equity of 16.30%. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the previous year, the company earned $7.85 earnings per share. As a group, sell-side analysts predict that BlackRock, Inc. will post 38.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 22nd. Shareholders of record on Tuesday, September 7th will be issued a $4.13 dividend. The ex-dividend date is Friday, September 3rd. This represents a $16.52 annualized dividend and a dividend yield of 1.96%. BlackRock’s dividend payout ratio is currently 48.85%.
Several research firms recently weighed in on BLK. Credit Suisse Group reduced their price objective on shares of BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating on the stock in a research note on Thursday, July 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of BlackRock from $1,018.00 to $1,001.00 and set a “buy” rating on the stock in a research note on Thursday, July 15th. Citigroup lifted their price objective on shares of BlackRock from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Monday, July 12th. Morgan Stanley lifted their price objective on shares of BlackRock from $944.00 to $1,017.00 and gave the stock an “overweight” rating in a research note on Friday, July 9th. Finally, Jefferies Financial Group lifted their price objective on shares of BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Tuesday, August 31st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $953.31.
BlackRock Company Profile
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
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