Nomura Asset Management Co. Ltd. Has $84.63 Million Stake in BlackRock $BLK

Nomura Asset Management Co. Ltd. cut its stake in shares of BlackRock (NYSE:BLK) by 1.5% in the second quarter, Holdings Channel reports. The fund owned 80,658 shares of the asset manager’s stock after selling 1,209 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in BlackRock were worth $84,630,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BLK. Midwest Professional Planners LTD. grew its stake in BlackRock by 2.6% during the second quarter. Midwest Professional Planners LTD. now owns 2,532 shares of the asset manager’s stock worth $2,656,000 after buying an additional 65 shares during the last quarter. Symphony Financial Ltd. Co. acquired a new position in shares of BlackRock in the 2nd quarter worth approximately $17,978,000. Western Wealth Management LLC grew its position in BlackRock by 12.8% during the 2nd quarter. Western Wealth Management LLC now owns 2,585 shares of the asset manager’s stock worth $2,713,000 after acquiring an additional 294 shares during the last quarter. Summitry LLC increased its holdings in BlackRock by 2.7% during the 2nd quarter. Summitry LLC now owns 541 shares of the asset manager’s stock valued at $567,000 after purchasing an additional 14 shares in the last quarter. Finally, MTM Investment Management LLC raised its position in BlackRock by 2.4% in the 2nd quarter. MTM Investment Management LLC now owns 805 shares of the asset manager’s stock valued at $845,000 after purchasing an additional 19 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

BlackRock stock opened at $1,057.41 on Monday. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94. The company’s 50-day moving average is $1,127.37 and its two-hundred day moving average is $1,076.22. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a market cap of $164.06 billion, a PE ratio of 27.19, a PEG ratio of 1.90 and a beta of 1.48.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same period last year, the firm earned $11.46 earnings per share. The company’s quarterly revenue was up 25.2% on a year-over-year basis. Equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

Wall Street Analyst Weigh In

BLK has been the topic of several research analyst reports. Bank of America increased their target price on BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods upped their price target on shares of BlackRock from $1,215.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Cowen restated a “buy” rating on shares of BlackRock in a research report on Wednesday, October 15th. BMO Capital Markets boosted their target price on shares of BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Finally, Loop Capital set a $1,255.00 price target on shares of BlackRock in a research note on Tuesday, October 21st. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,302.53.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This represents a 62.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.98% of the company’s stock.

About BlackRock

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.