First National Bank of Omaha increased its holdings in shares of BlackRock (NYSE:BLK – Free Report) by 10.7% in the fourth quarter, Holdings Channel reports. The firm owned 15,459 shares of the asset manager’s stock after buying an additional 1,494 shares during the period. First National Bank of Omaha’s holdings in BlackRock were worth $16,583,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Legal & General Group Plc boosted its stake in shares of BlackRock by 0.8% in the 4th quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager’s stock valued at $985,331,000 after buying an additional 7,457 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in shares of BlackRock by 6,347.9% in the 3rd 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 period. PNC Financial Services Group Inc. boosted its stake in shares of BlackRock by 8.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 360,995 shares of the asset manager’s stock valued at $420,873,000 after buying an additional 29,449 shares during the period. Sienna Gestion boosted its stake in shares of BlackRock by 51.5% in the 3rd 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 period. Finally, Sarasin & Partners LLP boosted its stake in shares of BlackRock by 10.6% in the 4th quarter. Sarasin & Partners LLP now owns 251,856 shares of the asset manager’s stock valued at $269,572,000 after buying an additional 24,196 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on BLK shares. The Goldman Sachs Group lifted their price objective on BlackRock from $1,181.00 to $1,313.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Weiss Ratings upgraded BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. decreased their price objective on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. TD Cowen decreased their price objective on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. Finally, Evercore decreased their price objective on BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating for the company in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,264.61.
BlackRock Price Performance
Shares of NYSE BLK opened at $1,031.45 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. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The stock has a 50 day moving average of $1,039.86 and a two-hundred day moving average of $1,051.37. The stock has a market cap of $160.11 billion, a P/E ratio of 25.89, a P/E/G ratio of 1.32 and a beta of 1.42.
BlackRock (NYSE:BLK – Get Free Report) last issued its quarterly earnings data 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. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the previous year, the business earned $9.64 earnings per share. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, research analysts forecast that BlackRock will post 52.8 earnings per share for the current year.
BlackRock Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be paid a $5.73 dividend. The ex-dividend date is Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. BlackRock’s payout ratio is currently 57.53%.
BlackRock News Roundup
Here are the key news stories impacting BlackRock this week:
- Negative Sentiment: BlackRock’s private-credit funds saw redemption requests far above the cap, and the firm is again limiting withdrawals, which could weigh on sentiment around its alternatives business. Reuters article
- Negative Sentiment: Bloomberg and other reports said BlackRock’s HPS/HLEND private-credit vehicles capped redemptions after investors sought to withdraw more than 5%, underscoring continued pressure in the funds. Bloomberg article
- Neutral Sentiment: BlackRock also reported buying additional Bitcoin and Ethereum holdings, and it is preparing an income-focused Bitcoin ETF, highlighting continued growth in its digital-asset franchise. Finbold article
- Neutral Sentiment: Reports that BlackRock may seek about $5 billion of SpaceX IPO shares point to strong client demand and product breadth, but this is not as immediate a driver as the redemption headlines. Reuters article
Insider Buying and Selling
In other BlackRock news, CEO Laurence Fink sold 33,900 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the completion of the sale, the chief executive officer owned 230,516 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the completion of the sale, the president owned 210,186 shares of the company’s stock, valued at approximately $222,082,527.60. This represents 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 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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