Pekao Towarzystwo Funduszy Inwestycyjnych S.A. purchased a new position in shares of BlackRock (NYSE:BLK – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 883 shares of the asset manager’s stock, valued at approximately $945,000.
Other hedge funds also recently modified their holdings of the company. Oak Harvest Investment Services raised its position in BlackRock by 12,176.1% in 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 buying an additional 1,582,159 shares during the last quarter. Viking Global Investors LP raised its position in BlackRock by 217.5% in the 3rd quarter. Viking Global Investors LP now owns 619,492 shares of the asset manager’s stock valued at $722,247,000 after buying an additional 424,388 shares during the last quarter. Parkside Financial Bank & Trust raised its position in BlackRock by 29,043.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 245,094 shares of the asset manager’s stock valued at $285,748,000 after buying an additional 244,253 shares during the last quarter. Amundi raised its position in BlackRock by 39.5% in the 3rd quarter. Amundi now owns 547,249 shares of the asset manager’s stock valued at $645,354,000 after buying an additional 154,907 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in BlackRock by 13.4% in 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 buying an additional 143,126 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.
BlackRock Stock Performance
Shares of NYSE BLK opened at $1,052.56 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $163.71 billion, a P/E ratio of 26.42, a P/E/G ratio of 1.41 and a beta of 1.48. BlackRock has a 12 month low of $845.82 and a 12 month high of $1,219.94. The stock has a 50 day moving average of $1,012.55 and a 200-day moving average of $1,067.04.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. BMO Capital Markets dropped their target price on BlackRock from $1,300.00 to $1,200.00 and set an “outperform” rating on the stock in a research report on Friday, April 10th. TD Cowen dropped their target price on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of BlackRock in a research report on Friday, March 27th. UBS Group lifted their target price on BlackRock from $1,235.00 to $1,270.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Evercore reissued an “outperform” rating and issued a $1,220.00 target price on shares of BlackRock in a research report on Wednesday. One 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,266.28.
Get Our Latest Research Report on BLK
Insider Buying and Selling
In related news, COO Robert L. Goldstein sold 54,190 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $1,087.29, for a total transaction of $58,920,245.10. Following the transaction, the chief operating officer directly owned 51,478 shares of the company’s stock, valued at approximately $55,971,514.62. The trade was a 51.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $1,125.00, for a total value of $22,500,000.00. Following the transaction, the director directly owned 61,894 shares in the company, valued at $69,630,750. The trade was a 24.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 84,272 shares of company stock valued at $92,323,426. 1.98% of the stock is owned by insiders.
Key Stories Impacting BlackRock
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: Q1 results beat expectations — BlackRock reported stronger-than-expected revenue and EPS with healthy net inflows, which supports fee growth and the stock’s rally. BlackRock, Inc. Just Beat Earnings Expectations
- Positive Sentiment: Senior management bullish — Rick Rieder highlighted “extraordinary” equity technicals and strong earnings momentum on Bloomberg, reinforcing a risk-on view that can attract flows into BlackRock products. BlackRock’s Rieder Says Equity Technicals Are Extraordinary
- Positive Sentiment: Analyst support and higher targets — Recent analyst notes and a new UBS price target lift sentiment and provide cover for buyers after the earnings print. BlackRock Given New $1,270.00 Price Target at UBS Group
- Positive Sentiment: Media endorsements and product demand — Commentary (including Jim Cramer) and attention to BlackRock’s private-credit capabilities and high-yield iShares ETFs may support asset-gathering prospects. Jim Cramer Highlights “BlackRock Has Good Private Credit”
- Neutral Sentiment: Product innovation / retirement flows — Coverage about private assets possibly entering 401(k)s and interest in BlackRock dividend/high-yield ETFs could expand addressable market over time, but adoption and regulation are still uncertain. Private Assets Could Join Your 401(k): What You Need To Know 5 Best High-Yield BlackRock Dividend ETFs Paying Over 5%
- Negative Sentiment: Private-credit liquidity concerns — Investors remain wary after a March cap on quarterly repurchases at BlackRock’s HPS corporate-lending vehicle and softer quarter-end AUM versus year-end, which pressured sentiment and prompted a post-earnings pullback earlier in the week. BlackRock slips 3.2% as investors digest Q1 results and lingering private-credit concerns
- Negative Sentiment: Investor lawsuit inquiry — Pomerantz has opened an investigation into BLK investor claims; legal action can create headline risk and potential costs, keeping some investors cautious. Pomerantz Law Firm Investigates Claims On Behalf of Investors of BlackRock
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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