Consolidated Capital Management LLC grew its holdings in BlackRock (NYSE:BLK – Free Report) by 16.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,616 shares of the asset manager’s stock after acquiring an additional 780 shares during the period. BlackRock makes up 1.8% of Consolidated Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Consolidated Capital Management LLC’s holdings in BlackRock were worth $6,011,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Lingohr Asset Management GmbH bought a new position in shares of BlackRock in the 3rd quarter valued at about $700,000. 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 purchasing an additional 7,457 shares during the last quarter. 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 purchasing an additional 41,579 shares during the last quarter. 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 purchasing an additional 7,773 shares during the last quarter. 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 purchasing an additional 24,196 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on BLK. Jefferies Financial Group cut their price target on shares of BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Barclays raised their target price on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Keefe, Bruyette & Woods raised their target price on shares of BlackRock from $1,150.00 to $1,240.00 and gave the stock an “outperform” rating in a report on Wednesday, April 15th. The Goldman Sachs Group raised their target price on shares of BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,269.06.
Key BlackRock News
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: Several articles framed BlackRock as a strong dividend stock, which can support investor interest in BLK’s income profile and overall quality reputation. Why BlackRock (BLK) is a Great Dividend Stock Right Now
- Positive Sentiment: BlackRock’s recent earnings strength remains a backdrop for the stock, with the company having reported better-than-expected EPS and revenue in its latest quarter. This reinforces confidence in the firm’s fundamentals. BlackRock Scales Back Equities After ‘Generational’ Earnings
- Neutral Sentiment: BlackRock is trimming stock exposure in its model portfolios after a strong run in U.S. equities. That suggests a more cautious near-term stance, but it is more of an asset-allocation decision than a direct hit to BLK’s earnings. BlackRock Scales Back Equities After ‘Generational’ Earnings
- Neutral Sentiment: Texas is shifting its Bitcoin reserve from BlackRock’s IBIT ETF to direct custody, but the allocation is small and the move reflects a change in custody preference rather than a broad rejection of BlackRock’s crypto platform. Texas Bitcoin reserve plans shift from ETF to direct custody
- Negative Sentiment: U.S. spot Bitcoin ETFs saw large outflows, and BlackRock’s IBIT accounted for the biggest share of redemptions. That can weigh on sentiment around one of BLK’s most visible growth products. U.S. Bitcoin Spot ETFs Hit by $228M Outflow as IBIT Sees Heavy Exit
- Negative Sentiment: Additional reports said IBIT had near-record outflows as Bitcoin fell below $75,000, suggesting investors are pulling back from the product during the crypto selloff. BlackRock Bitcoin ETF sees near-record outflows as BTC dips below $75K
- Negative Sentiment: Another report described a large single-day withdrawal from a BlackRock ETF, reinforcing concerns that crypto ETF flows are weakening and may be creating short-term pressure on BLK sentiment. Mysterious trader dumps $1B from BlackRock ETF
- Negative Sentiment: BlackRock’s IBIT also saw heavy daily outflows in the latest ETF flow data, which may be contributing to the stock’s softer tone today. Texas Shifts Bitcoin Holdings from ETF to Direct Custody Control
Insiders Place Their Bets
In other news, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction on 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 sale, the chief executive officer 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 transaction 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 BlackRock stock in a transaction on 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 sale, the president directly owned 210,186 shares of the company’s stock, valued at $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 company insiders.
BlackRock Trading Down 0.1%
BLK stock opened at $1,045.88 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09. The company has a fifty day moving average price of $1,029.75 and a two-hundred day moving average price of $1,053.69. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The stock has a market cap of $162.36 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.36 and a beta of 1.44.
BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping analysts’ consensus estimates of $12.40 by $0.13. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the previous year, the business posted $9.64 earnings per share. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. Equities analysts anticipate that BlackRock will post 52.8 EPS for the current year.
BlackRock Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be issued a dividend of $5.73 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.2%. BlackRock’s dividend payout ratio (DPR) is currently 57.53%.
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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