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

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of BlackRock (NYSE:BLK) by 7.9% in the second quarter, according to its most recent disclosure with the SEC. 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. owned 0.19% of BlackRock worth $304,791,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Game Plan Financial Advisors LLC raised its position in shares of BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares during the period. Garde Capital Inc. grew its stake in BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after buying an additional 18 shares during the last quarter. Cheviot Value Management LLC bought a new position in BlackRock in the 1st quarter valued at about $30,000. Whipplewood Advisors LLC lifted its position in BlackRock by 107.1% during the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after acquiring an additional 15 shares during the last quarter. Finally, Creekmur Asset Management LLC boosted its holdings in shares of BlackRock by 87.5% during the second quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after acquiring an additional 14 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of research reports. Loop Capital set a $1,255.00 price objective on BlackRock in a report on Tuesday, October 21st. BNP Paribas Exane upped their price target on shares of BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Morgan Stanley raised their price target on shares of BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods boosted their price objective on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Finally, Wells Fargo & Company dropped their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research report on Wednesday, July 16th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

Insider Buying and Selling

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

BlackRock Trading Up 1.1%

BLK opened at $1,081.66 on Friday. The company has a market cap of $167.50 billion, a P/E ratio of 27.81, a PEG ratio of 1.90 and a beta of 1.48. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company’s 50 day moving average is $1,130.62 and its 200-day moving average is $1,068.02. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The company had revenue of $6.51 billion during 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%. The business’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $11.46 EPS. Equities research analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

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.