BlackRock, Inc. (NYSE:BLK) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB lifted its holdings in BlackRock, Inc. (NYSE:BLKFree Report) by 5.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,742 shares of the asset manager’s stock after purchasing an additional 529 shares during the quarter. Nordea Investment Management AB’s holdings in BlackRock were worth $8,992,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners purchased a new position in BlackRock in the 4th quarter worth $27,000. Redmont Wealth Advisors LLC purchased a new position in BlackRock in the 1st quarter worth $27,000. Private Wealth Management Group LLC purchased a new position in BlackRock in the 4th quarter worth $28,000. Pineridge Advisors LLC purchased a new position in BlackRock in the 4th quarter worth $28,000. Finally, LFA Lugano Financial Advisors SA raised its stake in BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after acquiring an additional 25 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the sale, the director now owns 6,480 shares in the company, valued at $5,151,600. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

BLK has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. TD Cowen reduced their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday. UBS Group lifted their price objective on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. lifted their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $915.00 price objective on shares of BlackRock in a research note on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $846.75.

Get Our Latest Report on BLK

BlackRock Stock Down 0.0 %

BLK stock opened at $790.34 on Tuesday. The firm has a market cap of $117.44 billion, a PE ratio of 20.08, a PEG ratio of 1.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The firm’s 50 day moving average price is $782.51 and its 200-day moving average price is $792.55. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.93 EPS. On average, equities research analysts anticipate that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Friday, June 7th. BlackRock’s payout ratio is presently 51.84%.

BlackRock Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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