Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of BlackRock (NYSE:BLK – Free Report) by 57.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,574 shares of the asset manager’s stock after acquiring an additional 19,655 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in BlackRock were worth $51,523,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in BLK. Evolution Wealth Management Inc. purchased a new position in shares of BlackRock during the 4th quarter worth approximately $26,000. Birchbrook Inc. purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $32,000. Basepoint Wealth LLC acquired a new position in BlackRock during the fourth quarter worth $32,000. Finally, Swiss RE Ltd. acquired a new position in BlackRock during the fourth quarter worth $33,000. 80.69% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently commented on BLK. Weiss Ratings upgraded shares of BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. BNP Paribas Exane increased their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Morgan Stanley lifted their price target on shares of BlackRock from $1,393.00 to $1,430.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. The Goldman Sachs Group boosted their price target on BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Finally, BMO Capital Markets upped their price target on BlackRock from $1,200.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,269.44.
Insiders Place Their Bets
In other BlackRock news, President Robert Kapito sold 8,739 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the completion of the transaction, the president owned 210,186 shares of the company’s stock, valued at approximately $222,082,527.60. This trade represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Laurence Fink sold 33,900 shares of the business’s 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 transaction, the chief executive officer directly owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. This trade represents a 12.82% 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 corporate insiders.
BlackRock Stock Performance
NYSE:BLK opened at $994.50 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 capitalization of $154.38 billion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.43. The firm has a 50-day moving average price of $1,039.37 and a two-hundred day moving average price of $1,046.33. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94.
BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, beating the consensus estimate of $12.40 by $0.13. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the business earned $9.64 earnings per share. The company’s quarterly revenue was up 27.0% on a year-over-year basis. As a group, research analysts expect that BlackRock will post 53.34 earnings per share for the current fiscal year.
BlackRock Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th were issued a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, June 5th. BlackRock’s dividend payout ratio is 57.53%.
Key Stories Impacting BlackRock
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: The U.S. Treasury chose BlackRock’s IVV and ITOT ETFs for the new Trump Accounts program, which could boost future ETF inflows and reinforce BlackRock’s position in low-cost index investing. US Treasury picks BlackRock, Vanguard ETFs for Trump Accounts
- Positive Sentiment: BlackRock’s BUIDL tokenized treasury product continued to grow even as crypto-native yield products shrank, underscoring demand for asset-backed digital products tied to traditional markets. Yield-bearing stablecoin slowdown ends three-year run for crypto-native products
- Positive Sentiment: BlackRock was also highlighted in articles about expanding tokenization efforts and ETF adoption, which may help support longer-term growth narratives around its iShares franchise. Ondo Finance brings U.S. stocks onchain for the first time following SEC guidance
- Positive Sentiment: Analyst notes saying BlackRock has a strong history of beating earnings estimates may also be helping sentiment ahead of its next report on July 15. Will BlackRock (BLK) Beat Estimates Again in Its Next Earnings Report?
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.
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