Nisa Investment Advisors LLC Has $38.10 Million Stock Position in BlackRock (NYSE:BLK)

Nisa Investment Advisors LLC reduced its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 3.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,258 shares of the asset manager's stock after selling 1,648 shares during the quarter. Nisa Investment Advisors LLC's holdings in BlackRock were worth $38,103,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC boosted its stake in BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after acquiring an additional 296 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in BlackRock by 35.4% in the fourth quarter. Proficio Capital Partners LLC now owns 619 shares of the asset manager's stock valued at $634,000 after acquiring an additional 162 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in BlackRock by 9.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 20,276 shares of the asset manager's stock valued at $20,785,000 after acquiring an additional 1,693 shares during the last quarter. Independent Advisor Alliance boosted its stake in BlackRock by 28.1% in the fourth quarter. Independent Advisor Alliance now owns 3,483 shares of the asset manager's stock valued at $3,570,000 after acquiring an additional 764 shares during the last quarter. Finally, Davis R M Inc. purchased a new position in BlackRock in the fourth quarter valued at about $1,062,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on BLK shares. Bank of America dropped their target price on shares of 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. JPMorgan Chase & Co. dropped their price target on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research note on Tuesday. The Goldman Sachs Group reissued a "buy" rating and issued a $1,115.00 price target on shares of BlackRock in a report on Tuesday. Finally, Morgan Stanley reissued an "overweight" rating and issued a $1,164.00 price target on shares of BlackRock in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, BlackRock presently has an average rating of "Moderate Buy" and a consensus target price of $1,108.62.

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the transaction, the director owned 66,034 shares of the company's stock, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.98% of the company's stock.

BlackRock Stock Up 0.9%

Shares of BlackRock stock traded up $9.38 during trading on Wednesday, hitting $1,084.40. The company's stock had a trading volume of 19,045 shares, compared to its average volume of 692,785. The company has a market capitalization of $168.01 billion, a PE ratio of 26.35, a P/E/G ratio of 3.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,086.84. The company has a fifty day simple moving average of $986.01 and a two-hundred day simple moving average of $970.03.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same period last year, the business earned $9.81 EPS. BlackRock's revenue was up 11.6% compared to the same quarter last year. Equities research analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's payout ratio is 50.63%.

BlackRock 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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