Mitsubishi UFJ Asset Management Co. Ltd. Acquires 21,251 Shares of BlackRock $BLK

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in BlackRock (NYSE:BLK) by 7.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 290,485 shares of the asset manager’s stock after purchasing an additional 21,251 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in BlackRock were worth $304,791,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BLK. Brighton Jones LLC raised its holdings in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after purchasing an additional 296 shares during the last quarter. Bison Wealth LLC boosted its position in shares of BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after purchasing an additional 17 shares in the last quarter. Nemes Rush Group LLC acquired a new stake in BlackRock during the first quarter worth approximately $208,000. Linden Thomas Advisory Services LLC grew its stake in BlackRock by 7.7% during the first quarter. Linden Thomas Advisory Services LLC now owns 504 shares of the asset manager’s stock worth $477,000 after purchasing an additional 36 shares during the period. Finally, LBP AM SA acquired a new position in BlackRock in the first quarter valued at approximately $3,743,000. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.98% of the company’s stock.

BlackRock Trading Up 1.1%

NYSE:BLK opened at $1,081.66 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The company has a market cap of $167.50 billion, a PE ratio of 27.81, a PEG ratio of 1.90 and a beta of 1.48. The firm has a 50-day moving average of $1,130.62 and a 200-day moving average of $1,068.02.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The company had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. BlackRock’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter last year, the firm posted $11.46 EPS. As a group, equities research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BLK. Jefferies Financial Group raised their price objective on shares of BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their price target on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Argus increased their price objective on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. BNP Paribas Exane boosted their target price on BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. increased their price target on BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,299.29.

BlackRock Company 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.