RKL Wealth Management LLC bought a new stake in BlackRock (NYSE:BLK – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 707 shares of the asset manager’s stock, valued at approximately $757,000.
A number of other institutional investors also recently modified their holdings of the business. Kovack Advisors Inc. boosted its position in shares of BlackRock by 43.8% in the fourth quarter. Kovack Advisors Inc. now owns 2,411 shares of the asset manager’s stock valued at $2,581,000 after acquiring an additional 734 shares during the period. Burkett Asset Management Ltd bought a new stake in BlackRock during the fourth quarter worth about $590,000. Sepio Capital LP lifted its position in BlackRock by 20.9% during the fourth quarter. Sepio Capital LP now owns 5,751 shares of the asset manager’s stock worth $6,156,000 after purchasing an additional 995 shares during the period. Sumitomo Mitsui Financial Group Inc. lifted its position in BlackRock by 10.1% during the fourth quarter. Sumitomo Mitsui Financial Group Inc. now owns 22,851 shares of the asset manager’s stock worth $24,458,000 after purchasing an additional 2,094 shares during the period. Finally, First Financial Bankshares Inc lifted its position in BlackRock by 0.9% during the fourth quarter. First Financial Bankshares Inc now owns 68,723 shares of the asset manager’s stock worth $73,557,000 after purchasing an additional 584 shares during the period. Institutional investors own 80.69% of the company’s stock.
Trending Headlines about BlackRock
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: BlackRock is expanding its ETF lineup with new thematic products, including a space-focused fund in Europe/UK and a planned income-paying Bitcoin ETF, reinforcing its leadership in fast-growing areas of asset management. How Investors Are Reacting To BlackRock (BLK) Expanding Into Space ETFs And Digital Assets
- Positive Sentiment: Reports that BlackRock is seeking to buy at least $5 billion of SpaceX IPO shares highlight its willingness to back high-profile alternative assets and could support fee-generating opportunities if the deal moves forward. BlackRock seeks to buy at least $5 billion in SpaceX IPO shares, WSJ reports
- Positive Sentiment: BlackRock continues to dominate Bitcoin ETF flows with Fidelity, suggesting its crypto products are capturing the bulk of investor demand in the U.S. spot Bitcoin ETF market. BlackRock and Fidelity Dominate U.S. Bitcoin ETF Flows
- Neutral Sentiment: The Supreme Court’s ruling shielding investment funds from some shareholder lawsuits is broadly supportive for the asset-management industry, though the direct impact on BlackRock is limited. Supreme Court Shields Investment Funds From Shareholder Lawsuits
- Neutral Sentiment: Financial stocks were firmer in afternoon trading, creating a generally supportive backdrop for BlackRock, although the move appears driven by sector rotation rather than company-specific news. Sector Update: Financial Stocks Rise Late Afternoon
- Negative Sentiment: Some coverage noted BlackRock’s crypto portfolio declined by more than $12 billion early in June and that its Bitcoin holdings were sold while Ethereum was accumulated, which could raise questions about near-term digital-asset mark-to-market performance. BlackRock crypto portfolio falls by over $12 billion in early June
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on BlackRock
Insider Activity
In other BlackRock news, CEO Laurence Fink sold 33,900 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the completion of the transaction, the chief executive officer owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Robert Kapito sold 8,739 shares of the business’s stock in a transaction dated 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 approximately $222,082,527.60. The trade was a 3.99% decrease in their position. The SEC filing for this sale provides additional information. 1.92% of the stock is currently owned by insiders.
BlackRock Stock Up 0.7%
Shares of NYSE BLK opened at $1,017.36 on Friday. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. The company has a market cap of $157.93 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.32 and a beta of 1.42. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The stock has a 50-day moving average price of $1,038.39 and a two-hundred day moving average price of $1,051.51.
BlackRock (NYSE:BLK – Get Free Report) last issued its earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping the consensus estimate of $12.40 by $0.13. The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The business’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.64 earnings per share. As a group, analysts forecast that BlackRock will post 52.8 earnings per share for the current fiscal year.
BlackRock Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be paid a dividend of $5.73 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $22.92 annualized dividend and a yield of 2.3%. BlackRock’s payout ratio is presently 57.53%.
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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