Lecap Asset Management Ltd. Makes New $963,000 Investment in BlackRock $BLK

Lecap Asset Management Ltd. purchased a new position in BlackRock (NYSE:BLK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 900 shares of the asset manager’s stock, valued at approximately $963,000.

A number of other large investors have also bought and sold shares of BLK. Investment Research & Advisory Group Inc. acquired a new position in shares of BlackRock during the third quarter valued at about $6,201,000. Lingohr Asset Management GmbH acquired a new position in shares of BlackRock during the third quarter valued at about $700,000. Ontario Teachers Pension Plan Board grew its holdings in shares of BlackRock by 6,347.9% during the third quarter. Ontario Teachers Pension Plan Board now owns 42,234 shares of the asset manager’s stock valued at $49,239,000 after buying an additional 41,579 shares during the last quarter. Sienna Gestion grew its holdings in shares of BlackRock by 51.5% during the third quarter. Sienna Gestion now owns 22,859 shares of the asset manager’s stock valued at $24,299,000 after buying an additional 7,773 shares during the last quarter. Finally, Tandem Investment Advisors Inc. acquired a new position in shares of BlackRock during the third quarter valued at about $83,247,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Up 2.7%

BLK opened at $1,052.56 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.37. The stock has a market cap of $163.71 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.41 and a beta of 1.48. BlackRock has a twelve month low of $845.82 and a twelve month high of $1,219.94. The company’s 50-day moving average price is $1,012.55 and its two-hundred day moving average price is $1,067.04.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, beating analysts’ consensus estimates of $12.40 by $0.13. The firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.96%. The company’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the company earned $9.64 earnings per share. As a group, equities analysts expect that BlackRock will post 47.41 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BLK shares. Freedom Capital upgraded shares of BlackRock from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. reduced their price objective on shares of BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating for the company in a report on Monday, April 13th. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $1,150.00 to $1,240.00 and gave the company an “outperform” rating in a report on Wednesday. The Goldman Sachs Group boosted their price target on shares of BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays boosted their price target on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $1,266.28.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 20,000 shares of the business’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $1,125.00, for a total value of $22,500,000.00. Following the transaction, the director directly owned 61,894 shares in the company, valued at $69,630,750. The trade was a 24.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert L. Goldstein sold 54,190 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $1,087.29, for a total transaction of $58,920,245.10. Following the completion of the transaction, the chief operating officer owned 51,478 shares in the company, valued at approximately $55,971,514.62. The trade was a 51.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 84,272 shares of company stock worth $92,323,426 over the last three months. 1.98% of the stock is currently owned by insiders.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Q1 results beat expectations — BlackRock reported stronger-than-expected revenue and EPS with healthy net inflows, which supports fee growth and the stock’s rally. BlackRock, Inc. Just Beat Earnings Expectations
• Positive Sentiment: Senior management bullish — Rick Rieder highlighted “extraordinary” equity technicals and strong earnings momentum on Bloomberg, reinforcing a risk-on view that can attract flows into BlackRock products. BlackRock’s Rieder Says Equity Technicals Are Extraordinary
• Positive Sentiment: Analyst support and higher targets — Recent analyst notes and a new UBS price target lift sentiment and provide cover for buyers after the earnings print. BlackRock Given New $1,270.00 Price Target at UBS Group
• Positive Sentiment: Media endorsements and product demand — Commentary (including Jim Cramer) and attention to BlackRock’s private-credit capabilities and high-yield iShares ETFs may support asset-gathering prospects. Jim Cramer Highlights “BlackRock Has Good Private Credit”
• Neutral Sentiment: Product innovation / retirement flows — Coverage about private assets possibly entering 401(k)s and interest in BlackRock dividend/high-yield ETFs could expand addressable market over time, but adoption and regulation are still uncertain. Private Assets Could Join Your 401(k): What You Need To Know 5 Best High-Yield BlackRock Dividend ETFs Paying Over 5%
• Negative Sentiment: Private-credit liquidity concerns — Investors remain wary after a March cap on quarterly repurchases at BlackRock’s HPS corporate-lending vehicle and softer quarter-end AUM versus year-end, which pressured sentiment and prompted a post-earnings pullback earlier in the week. BlackRock slips 3.2% as investors digest Q1 results and lingering private-credit concerns
• Negative Sentiment: Investor lawsuit inquiry — Pomerantz has opened an investigation into BLK investor claims; legal action can create headline risk and potential costs, keeping some investors cautious. Pomerantz Law Firm Investigates Claims On Behalf of Investors of BlackRock

About BlackRock

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.