Harvest Investment Advisors LLC purchased a new stake in shares of BlackRock (NYSE:BLK – Free Report) in the 4th quarter, Holdings Channel reports. The fund purchased 2,001 shares of the asset manager’s stock, valued at approximately $2,142,000. BlackRock accounts for about 1.2% of Harvest Investment Advisors LLC’s holdings, making the stock its 24th largest holding.
Several other hedge funds have also added to or reduced their stakes in the business. Kemnay Advisory Services Inc. acquired a new stake in BlackRock during the 4th quarter valued at $60,000. Captrust Financial Advisors lifted its holdings in BlackRock by 1.2% during the 4th quarter. Captrust Financial Advisors now owns 17,870 shares of the asset manager’s stock valued at $19,127,000 after purchasing an additional 206 shares during the last quarter. &PARTNERS lifted its holdings in BlackRock by 8.8% during the 4th quarter. &PARTNERS now owns 82,802 shares of the asset manager’s stock valued at $88,629,000 after purchasing an additional 6,710 shares during the last quarter. Siemens Fonds Invest GmbH increased its position in BlackRock by 18.7% during the 4th quarter. Siemens Fonds Invest GmbH now owns 4,944 shares of the asset manager’s stock worth $5,356,000 after buying an additional 779 shares during the period. Finally, ExodusPoint Capital Management LP bought a new position in BlackRock during the 4th quarter worth $2,576,000. Institutional investors and hedge funds own 80.69% of the company’s stock.
Insider Transactions at BlackRock
In other BlackRock news, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction dated 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 transaction, the president owned 210,186 shares in the company, valued at $222,082,527.60. The trade was a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction dated Tuesday, April 28th. The shares were 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 owned 230,516 shares in the company, valued at approximately $242,168,583.80. This represents a 12.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.92% of the company’s stock.
BlackRock Stock Performance
BlackRock (NYSE:BLK – Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share 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 company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the prior year, the firm posted $9.64 EPS. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. As a group, equities research analysts forecast that BlackRock will post 52.8 earnings per share for the current fiscal year.
BlackRock Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be given a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, June 5th. BlackRock’s payout ratio is currently 57.53%.
BlackRock News Summary
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: BlackRock’s top investment executive, Rick Rieder, said Bitcoin is “ultimately going considerably higher,” reinforcing the firm’s bullish stance on digital assets and potentially boosting sentiment around BlackRock’s crypto-linked business opportunities.
- Positive Sentiment: BlackRock remains in focus as a large asset manager with a steady dividend profile, with its next quarterly payout due soon, which can appeal to income-focused investors.
- Neutral Sentiment: BlackRock Canada announced product changes and risk-rating updates for several iShares ETFs, reflecting routine portfolio maintenance and index transitions rather than a major business shift.
- Neutral Sentiment: Several articles highlighted BlackRock commentary on AI, private markets, and a broader market rotation out of cash, which may support the long-term investment case but do not directly change near-term fundamentals.
- Negative Sentiment: BlackRock is cutting nearly 200 jobs globally, part of a continued “rightsizing” effort tied to efficiency and growth initiatives; while modest in scale, the repeated layoffs may signal management is still trimming costs aggressively.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. UBS Group increased their price objective on BlackRock from $1,235.00 to $1,270.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Evercore lowered their price objective on BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating on the stock in a research report on Monday, June 8th. Keefe, Bruyette & Woods increased their price objective on BlackRock from $1,150.00 to $1,240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. Jefferies Financial Group lowered their price objective on 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. Finally, TD Cowen lowered their price objective 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. 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 stock. According to MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,264.61.
BlackRock Company 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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