Immersion Capital LLP decreased its position in shares of BlackRock (NYSE:BLK – Free Report) by 28.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,633 shares of the asset manager’s stock after selling 4,910 shares during the period. BlackRock accounts for approximately 19.6% of Immersion Capital LLP’s portfolio, making the stock its biggest holding. Immersion Capital LLP’s holdings in BlackRock were worth $13,522,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Legal & General Group Plc increased its holdings in shares of BlackRock by 0.8% in the fourth 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 period. Ontario Teachers Pension Plan Board increased its holdings in shares of BlackRock by 6,347.9% in the third 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 period. Sarasin & Partners LLP increased its holdings in shares of BlackRock by 10.6% in the fourth 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 period. Sienna Gestion increased its holdings in shares of BlackRock by 51.5% in the third 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 period. Finally, Hudson Bay Capital Management LP acquired a new position in BlackRock during the third quarter worth $3,791,000. Institutional investors and hedge funds own 80.69% of the company’s stock.
BlackRock Stock Performance
BlackRock stock opened at $1,058.34 on Thursday. The firm has a market capitalization of $164.29 billion, a P/E ratio of 26.56, a PEG ratio of 1.37 and a beta of 1.42. The stock has a fifty day moving average price of $1,045.02 and a 200 day moving average price of $1,051.88. BlackRock has a 52 week low of $917.39 and a 52 week 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 declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be paid a dividend of $5.73 per share. The ex-dividend date is Friday, June 5th. This represents a $22.92 annualized dividend and a yield of 2.2%. BlackRock’s dividend payout ratio is currently 57.53%.
Insider Activity
In other news, CEO Laurence Fink sold 33,900 shares of the stock in a transaction dated 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 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 link. Also, President Robert Kapito sold 8,739 shares of the 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 completion of the sale, 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 position. The SEC filing for this sale provides additional information. Corporate insiders own 1.92% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. Morgan Stanley upped their price objective on BlackRock from $1,368.00 to $1,393.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Barclays upped their price objective on BlackRock from $1,290.00 to $1,310.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Jefferies Financial Group dropped their price objective 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. TD Cowen dropped their price objective on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. dropped their price objective on 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 analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,264.61.
Check Out Our Latest Stock Report on BlackRock
Trending Headlines about BlackRock
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: BlackRock expanded its digital-assets lineup with the launch of the iShares Bitcoin Premium Income ETF (BITA), a covered-call bitcoin income product. That keeps BLK positioned to benefit from continued investor demand for crypto-linked funds and adds another fee-generating product to its ETF franchise.
- Positive Sentiment: BlackRock’s CIO Rick Rieder reiterated a constructive long-term view on bitcoin and highlighted that large pools of cash could rotate back into markets, reinforcing the firm’s influence in the crypto and macro conversation. Related coverage also noted strong spot ETF inflows into BlackRock’s IBIT and ETHA products.
- Positive Sentiment: BlackRock-linked HPS Investment Partners participated in a $175 million investment in Behavox, underscoring continued capital deployment through BlackRock’s private-markets and alternatives platform.
- Neutral Sentiment: The Federal Reserve held rates steady but signaled the possibility of future hikes, a backdrop that can affect fixed-income positioning and asset flows for BlackRock depending on how markets react.
- Neutral Sentiment: BlackRock was mentioned in broader market commentary and stock-screening articles, but those pieces do not appear to add much direct fundamental impact.
- Negative Sentiment: BlackRock also reported another round of job cuts, trimming roughly 200 roles globally. While framed as efficiency-focused, layoffs can be read as a sign of ongoing restructuring pressure.
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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