Nuveen Asset Management LLC Has $615.36 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Nuveen Asset Management LLC reduced its position in BlackRock, Inc. (NYSE:BLK - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 600,283 shares of the asset manager's stock after selling 9,183 shares during the period. Nuveen Asset Management LLC owned about 0.39% of BlackRock worth $615,356,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Princeton Global Asset Management LLC boosted its position in BlackRock by 8.7% during the fourth quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager's stock worth $128,000 after purchasing an additional 10 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of BlackRock by 0.8% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager's stock worth $1,311,000 after purchasing an additional 10 shares during the last quarter. Legacy Capital Group California Inc. grew its holdings in BlackRock by 2.8% in the 4th quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager's stock valued at $377,000 after buying an additional 10 shares during the last quarter. Marino Stram & Associates LLC lifted its holdings in shares of BlackRock by 0.3% during the fourth quarter. Marino Stram & Associates LLC now owns 3,410 shares of the asset manager's stock worth $3,496,000 after buying an additional 11 shares during the last quarter. Finally, Mascoma Wealth Management LLC grew its stake in shares of BlackRock by 9.5% in the fourth quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock worth $130,000 after acquiring an additional 11 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BLK shares. Wells Fargo & Company decreased their price target on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Citigroup decreased their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. TD Cowen cut their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, StockNews.com started coverage on BlackRock in a research note on Thursday, May 8th. They issued a "hold" rating on the stock. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,077.08.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 10,000 shares of the 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 sale, the director now directly owns 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 12,430 shares of company stock valued at $11,237,249. Company insiders own 1.98% of the company's stock.

BlackRock Stock Performance

Shares of BlackRock stock opened at $958.98 on Wednesday. The firm has a market cap of $148.88 billion, a P/E ratio of 22.83, a P/E/G ratio of 1.90 and a beta of 1.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The firm has a 50 day simple moving average of $912.82 and a 200 day simple moving average of $978.16. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company's revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company posted $9.81 EPS. Sell-side analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.