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BlackRock reduces stake in Nordea Bank Abp to below 5%

Published 03/11/2023, 16:20
© Reuters.

On Friday, BlackRock (NYSE:BLK), Inc.'s indirect shareholding in Nordea Bank Abp (OTC:NRDBY) fell below the five percent threshold, as per the Securities Markets Act (SMA). The change took place on Thursday, with Nordea's total shares and voting rights standing at 3,548,889,720.

Following this change, BlackRock's holdings now comprise 4.99% of shares and voting rights, along with an additional 0.18% via financial instruments like American Depository Receipts, Securities Lent, and CFDs. This amounts to a total stake of 5.18%, down from their previous stake of 5.20%.

The financial instruments held by BlackRock account for a total of 6,439,886 shares. These are held through various associated entities such as BlackRock Japan Co., Ltd., BlackRock Investment Management (UK) Limited, BlackRock Fund Advisors, Aperio Group, LLC, BlackRock Asset Management North Asia Limited, BlackRock Advisors, LLC and BlackRock (Singapore) Limited.

Nordea Bank Abp has a rich 200-year history and is committed to enabling dreams and aspirations for a greater good by delivering best-in-class omnichannel customer experiences and driving sustainable change. The bank's shares are listed on the Nasdaq Helsinki, Nasdaq Copenhagen, and Nasdaq Stockholm exchanges.

Inquiries regarding this change can be directed to Matti Ahokas, the Head of Investor Relations at Nordea Bank Abp, or through the media contact +358 10416 8023 or press@nordea.com.

InvestingPro Insights

As per InvestingPro's real-time data, Nordea Bank Abp's market capitalization stands at 37681.11M USD. The bank has demonstrated a robust revenue growth of 29.5% over the last twelve months as of Q3 2023, and its Price/Earnings (P/E) ratio stands at a modest 7.15, indicating a relatively low valuation.

InvestingPro Tips highlights that Nordea Bank Abp has been experiencing accelerating revenue growth and has consistently increased its earnings per share. These factors, coupled with the fact that analysts have revised their earnings upwards for the upcoming period, suggest a promising outlook for the bank.

It's worth noting that the bank also pays a significant dividend to shareholders, with a dividend yield of 7.98% as of March 2023. This is an attractive feature for income-focused investors.

For more in-depth insights and additional tips, consider exploring the InvestingPro platform, which offers a comprehensive suite of tools and resources for informed investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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