Nuveen Fund Advisors LLC decreased its position in BlackRock, Inc. (NYSE:BLK) by 45.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 657 shares of the asset manager’s stock after selling 544 shares during the period. BlackRock comprises approximately 2.3% of Nuveen Fund Advisors LLC’s portfolio, making the stock its 25th biggest holding. Nuveen Fund Advisors LLC’s holdings in BlackRock were worth $258,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of BLK. Rehmann Capital Advisory Group lifted its position in shares of BlackRock by 51,763.3% during the third quarter. Rehmann Capital Advisory Group now owns 1,084,461 shares of the asset manager’s stock worth $2,300,000 after acquiring an additional 1,082,370 shares in the last quarter. Capital International Investors purchased a new stake in shares of BlackRock during the third quarter worth $477,939,000. Flossbach Von Storch AG lifted its position in shares of BlackRock by 114.1% during the fourth quarter. Flossbach Von Storch AG now owns 582,743 shares of the asset manager’s stock worth $228,913,000 after acquiring an additional 310,623 shares in the last quarter. Beutel Goodman & Co Ltd. purchased a new stake in shares of BlackRock during the fourth quarter worth $6,039,000. Finally, Partner Fund Management L.P. purchased a new stake in shares of BlackRock during the fourth quarter worth $65,513,000. Institutional investors and hedge funds own 81.79% of the company’s stock.
BLK has been the topic of several recent research reports. Bank of America restated a “buy” rating and set a $478.00 target price (down previously from $525.00) on shares of BlackRock in a research report on Thursday, December 6th. Citigroup dropped their target price on BlackRock from $500.00 to $450.00 and set a “buy” rating on the stock in a research report on Wednesday, December 19th. Zacks Investment Research restated a “sell” rating on shares of BlackRock in a research report on Monday, December 31st. Morgan Stanley dropped their target price on BlackRock from $514.00 to $489.00 and set an “overweight” rating on the stock in a research report on Friday, January 4th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $410.00 price objective (down previously from $440.00) on shares of BlackRock in a research report on Tuesday, January 8th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. BlackRock currently has an average rating of “Buy” and an average price target of $498.49.
Shares of BLK stock opened at $440.48 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.64. BlackRock, Inc. has a 52-week low of $360.79 and a 52-week high of $573.47. The firm has a market capitalization of $69.61 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, January 16th. The asset manager reported $6.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $6.35 by ($0.27). BlackRock had a return on equity of 13.51% and a net margin of 30.32%. The business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the business posted $6.24 EPS. The company’s quarterly revenue was down 8.8% on a year-over-year basis. On average, analysts predict that BlackRock, Inc. will post 26.28 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Wednesday, March 6th will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Tuesday, March 5th. This is an increase from BlackRock’s previous quarterly dividend of $3.13. BlackRock’s dividend payout ratio (DPR) is 49.02%.
In related news, Director Jeff A. Smith sold 225 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $431.01, for a total value of $96,977.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Robert L. Goldstein sold 5,133 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $443.00, for a total value of $2,273,919.00. The disclosure for this sale can be found here. Insiders sold 138,650 shares of company stock worth $57,774,089 in the last quarter. 1.75% of the stock is currently owned by company insiders.
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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.
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