Securian Asset Management Inc. Takes Position in BlackRock (NYSE:BLK)

Securian Asset Management Inc. purchased a new position in shares of BlackRock (NYSE:BLK - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,746 shares of the asset manager's stock, valued at approximately $7,331,000.

A number of other large investors also recently added to or reduced their stakes in BLK. GAMMA Investing LLC lifted its stake in BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after purchasing an additional 3,496,740 shares in the last quarter. Norges Bank acquired a new stake in shares of BlackRock in the fourth quarter valued at $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of BlackRock by 401.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock valued at $1,122,743,000 after acquiring an additional 876,836 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of BlackRock in the fourth quarter valued at $572,730,000. Finally, Ameriprise Financial Inc. raised its stake in shares of BlackRock by 18.6% in the fourth quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock valued at $2,152,907,000 after acquiring an additional 329,244 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director directly owned 66,034 shares in the company, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.98% of the company's stock.

BlackRock Stock Performance

Shares of NYSE BLK traded down $61.28 during midday trading on Tuesday, reaching $1,050.18. 922,355 shares of the company were exchanged, compared to its average volume of 788,427. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,112.13. The stock has a fifty day simple moving average of $1,000.47 and a 200 day simple moving average of $970.92. The stock has a market cap of $162.70 billion, a P/E ratio of 25.51, a PEG ratio of 2.22 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the company posted $10.36 earnings per share. The business's revenue was up 12.9% on a year-over-year basis. On average, research analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Thursday, June 5th. BlackRock's dividend payout ratio is presently 50.63%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BLK. UBS Group reiterated a "neutral" rating and issued a $980.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. TD Cowen cut their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company restated an "overweight" rating on shares of BlackRock in a research note on Tuesday, July 8th. Bank of America cut their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Finally, Argus restated a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,132.29.

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.