Nisa Investment Advisors LLC reduced its stake in BlackRock, Inc. (NYSE:BLK) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,026 shares of the asset manager’s stock after selling 1,560 shares during the period. Nisa Investment Advisors LLC’s holdings in BlackRock were worth $16,412,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Middleton & Co Inc MA increased its position in BlackRock by 22.0% in the second quarter. Middleton & Co Inc MA now owns 11,201 shares of the asset manager’s stock valued at $4,731,000 after buying an additional 2,023 shares during the period. Canal Capital Management LLC increased its stake in shares of BlackRock by 23.3% in the second quarter. Canal Capital Management LLC now owns 3,106 shares of the asset manager’s stock valued at $1,312,000 after buying an additional 587 shares during the period. TNB Financial increased its stake in shares of BlackRock by 26.1% in the second quarter. TNB Financial now owns 1,092 shares of the asset manager’s stock valued at $461,000 after buying an additional 226 shares during the period. Windward Capital Management Co. CA increased its stake in shares of BlackRock by 1.8% in the second quarter. Windward Capital Management Co. CA now owns 46,836 shares of the asset manager’s stock valued at $19,784,000 after buying an additional 842 shares during the period. Finally, Peoples Financial Services CORP. increased its stake in shares of BlackRock by 66.7% in the second quarter. Peoples Financial Services CORP. now owns 500 shares of the asset manager’s stock valued at $211,000 after buying an additional 200 shares during the period. 80.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BlackRock, Inc. (BLK) traded up 0.22% during trading on Thursday, hitting $427.39. The stock had a trading volume of 43,005 shares. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.84. The firm has a market cap of $69.61 billion, a price-to-earnings ratio of 20.51 and a beta of 1.71. The firm’s 50-day moving average is $423.59 and its 200 day moving average is $394.28.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the consensus estimate of $5.39 by $0.15. BlackRock had a net margin of 29.92% and a return on equity of 11.79%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the business posted $4.78 EPS. BlackRock’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts expect that BlackRock, Inc. will post $21.90 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Monday, June 5th were issued a $2.50 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $10.00 annualized dividend and a dividend yield of 2.34%. BlackRock’s dividend payout ratio is presently 47.98%.
BLK has been the topic of several recent analyst reports. Deutsche Bank AG lifted their target price on BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $440.00 target price on shares of BlackRock in a research note on Friday, July 14th. Bank of America Corporation reissued a “buy” rating and set a $450.00 target price on shares of BlackRock in a research note on Monday, June 19th. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price on the stock in a research note on Tuesday, June 20th. Finally, Wells Fargo & Company reissued a “market perform” rating and set a $425.00 target price (up previously from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. BlackRock currently has an average rating of “Buy” and an average target price of $434.93.
In related news, insider Mark Mccombe sold 500 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $405.98, for a total value of $202,990.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan Wagner sold 2,500 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $414.31, for a total value of $1,035,775.00. Following the completion of the sale, the director now directly owns 484,386 shares of the company’s stock, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,522 shares of company stock valued at $1,458,798. Insiders own 1.86% of the company’s stock.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.