Rossmore Private Capital boosted its stake in shares of BlackRock (NYSE:BLK – Free Report) by 15.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,239 shares of the asset manager’s stock after buying an additional 846 shares during the period. Rossmore Private Capital’s holdings in BlackRock were worth $6,678,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of BLK. Vanguard Group Inc. lifted its holdings in shares of BlackRock by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock valued at $15,051,846,000 after purchasing an additional 221,123 shares during the last quarter. Capital International Investors lifted its holdings in shares of BlackRock by 0.6% during the 3rd quarter. Capital International Investors now owns 1,841,088 shares of the asset manager’s stock valued at $2,146,663,000 after purchasing an additional 10,591 shares during the last quarter. Oak Harvest Investment Services lifted its holdings in shares of BlackRock by 12,176.1% during the 4th quarter. Oak Harvest Investment Services now owns 1,595,153 shares of the asset manager’s stock valued at $1,707,356,000 after purchasing an additional 1,582,159 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of BlackRock by 13.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,213,561 shares of the asset manager’s stock valued at $1,414,854,000 after purchasing an additional 143,126 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of BlackRock by 4.5% during the 3rd quarter. Legal & General Group Plc now owns 913,121 shares of the asset manager’s stock valued at $1,064,580,000 after purchasing an additional 39,412 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.
Key Stories Impacting BlackRock
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: BlackRock’s GIP unit is teaming with Temasek and Abu Dhabi-linked investors to target up to $30 billion in infrastructure deals, a sign that the firm continues to expand its alternative-investments platform and fee-earning asset base. Reuters article
- Positive Sentiment: JPMorgan increased its holdings of BlackRock’s IBIT Bitcoin ETF by 174%, reinforcing institutional demand for BlackRock’s crypto-linked products and supporting the company’s ETF growth story. Cointelegraph article
- Positive Sentiment: BlackRock is also being highlighted for income-focused ETF demand, with several high-yield iShares funds offering yields above 6%, which may keep assets flowing into its ETF franchise. TipRanks article
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on BLK
BlackRock Price Performance
NYSE BLK opened at $1,081.49 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09. The stock’s fifty day moving average price is $1,009.21 and its 200 day moving average price is $1,055.04. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94. The company has a market cap of $167.88 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.41 and a beta of 1.44.
BlackRock (NYSE:BLK – Get Free Report) last released its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.40 by $0.13. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the prior year, the firm earned $9.64 EPS. The firm’s revenue was up 27.0% on a year-over-year basis. As a group, equities research analysts forecast that BlackRock will post 52.77 earnings per share for the current year.
Insider Transactions at BlackRock
In related news, President Robert Kapito sold 8,739 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the transaction, the president directly owned 210,186 shares of the company’s stock, valued at $222,082,527.60. This represents a 3.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen Cohen sold 225 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $1,069.56, for a total value of $240,651.00. Following the completion of the transaction, the director directly owned 5,661 shares in the company, valued at approximately $6,054,779.16. The trade was a 3.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 45,249 shares of company stock valued at $47,671,714 in the last quarter. Insiders own 1.92% of the company’s stock.
BlackRock Company Profile
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.
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