Hsbc Holdings PLC lessened its position in shares of BlackRock (NYSE:BLK – Free Report) by 4.9% in the fourth quarter, Holdings Channel reports. The fund owned 318,791 shares of the asset manager’s stock after selling 16,450 shares during the quarter. Hsbc Holdings PLC’s holdings in BlackRock were worth $342,038,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. Evolution Wealth Management Inc. bought a new stake in shares of BlackRock during the 4th quarter valued at about $26,000. Birchbrook Inc. purchased a new stake in shares of BlackRock during the 4th quarter valued at about $31,000. Basepoint Wealth LLC bought a new position in shares of BlackRock in the 4th quarter worth approximately $32,000. LFA Lugano Financial Advisors SA bought a new position in shares of BlackRock in the 4th quarter worth approximately $32,000. Finally, Swiss RE Ltd. purchased a new position in shares of BlackRock in the fourth quarter worth approximately $33,000. Institutional investors own 80.69% of the company’s stock.
BlackRock Trading Up 0.1%
BlackRock stock opened at $1,051.51 on Friday. The firm has a 50 day moving average of $1,047.92 and a 200 day moving average of $1,051.90. The firm has a market capitalization of $163.23 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 1.37 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 company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34.
BlackRock Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be given a dividend of $5.73 per share. This represents a $22.92 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, June 5th. BlackRock’s dividend payout ratio (DPR) is presently 57.53%.
Insiders Place Their Bets
In other BlackRock news, CEO Laurence Fink sold 33,900 shares of the stock in a transaction 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. This represents a 12.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Robert Kapito sold 8,739 shares of the firm’s stock in a transaction dated 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 sale, the president directly owned 210,186 shares in the company, valued at approximately $222,082,527.60. This represents a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.92% of the stock is currently owned by insiders.
BlackRock News Roundup
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: BlackRock’s spot Bitcoin ETF continues to act as a gateway for new investors into traditional finance, with Jay Jacobs saying roughly three-quarters of IBIT holders had never owned an ETF before. That supports the case for continued asset-gathering strength in BlackRock’s ETF franchise. Article Title
- Positive Sentiment: BlackRock filed for an iShares Bitcoin Premium Income ETF, a covered-call product aimed at income seekers. The move suggests BlackRock is broadening its crypto ETF lineup and could attract more fee-generating inflows. Article Title
- Positive Sentiment: BlackRock Canada announced June cash distributions for multiple iShares ETFs, reinforcing the company’s large and steady ETF distribution machine, which can be viewed as a sign of recurring product demand. Article Title
- Neutral Sentiment: BlackRock was also highlighted as one of the largest Bitcoin holders, with Arkham data placing it ahead of Binance in BTC count. This reflects the scale of its crypto exposure, but it is more descriptive than fundamentally material on its own. Article Title
- Neutral Sentiment: Coverage comparing BlackRock with Blackstone and news about BlackRock entering the active high-yield ETF arena are broadly supportive of its product expansion, but neither article points to an immediate catalyst for the stock. Article Title
- Negative Sentiment: One headline noted BlackRock “dumps 1,000 Bitcoin” as BTC struggled to hold the $60,000 level. If sustained, weaker crypto prices could dampen sentiment around BlackRock’s Bitcoin-linked products, though the impact on BLK itself is likely limited. Article Title
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. TD Cowen cut their target price on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a research report on Thursday, April 9th. Keefe, Bruyette & Woods increased their price target on shares of BlackRock from $1,150.00 to $1,240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. Evercore dropped their price target on shares of BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating on the stock in a research note on Monday, June 8th. Barclays upped their price objective on BlackRock from $1,290.00 to $1,310.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, Jefferies Financial Group decreased their target price on BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. One equities research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,264.61.
View Our Latest Research Report on BlackRock
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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