BlackRock $BLK Shares Bought by Rossmore Private Capital

Rossmore Private Capital boosted its stake in shares of BlackRock (NYSE:BLK) by 15.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,239 shares of the asset manager’s stock after purchasing an additional 846 shares during the quarter. Rossmore Private Capital’s holdings in BlackRock were worth $6,678,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Shum Financial Group Inc. grew its position in BlackRock by 0.4% during the 4th quarter. Shum Financial Group Inc. now owns 2,183 shares of the asset manager’s stock worth $2,336,000 after purchasing an additional 9 shares during the period. First Bancorp Inc ME grew its position in BlackRock by 2.9% during the 4th quarter. First Bancorp Inc ME now owns 321 shares of the asset manager’s stock worth $344,000 after purchasing an additional 9 shares during the period. Rather & Kittrell Inc. grew its position in BlackRock by 2.1% during the 4th quarter. Rather & Kittrell Inc. now owns 430 shares of the asset manager’s stock worth $461,000 after purchasing an additional 9 shares during the period. Oakworth Capital Inc. grew its position in BlackRock by 1.2% during the 4th quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager’s stock worth $808,000 after purchasing an additional 9 shares during the period. Finally, Colton Groome Financial Advisors LLC grew its position in BlackRock by 0.9% during the 3rd quarter. Colton Groome Financial Advisors LLC now owns 1,097 shares of the asset manager’s stock worth $1,279,000 after purchasing an additional 10 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on BLK shares. Freedom Capital raised BlackRock from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods raised their target price on BlackRock from $1,150.00 to $1,240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. Morgan Stanley raised their target price on BlackRock from $1,368.00 to $1,393.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. 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. Finally, JPMorgan Chase & Co. dropped their target price on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. 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 stock. According to data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $1,269.06.

BlackRock Trading Down 0.0%

BLK opened at $1,081.49 on Monday. 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’s 50 day simple moving average is $1,009.21 and its two-hundred day simple moving average is $1,055.04. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94. The firm has a market capitalization of $167.88 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44.

BlackRock (NYSE:BLK) last released its 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 business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period last year, the company posted $9.64 EPS. The business’s revenue was up 27.0% on a year-over-year basis. Analysts expect that BlackRock will post 52.77 EPS for the current fiscal year.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s GIP unit is teaming with Temasek and Abu Dhabi-linked investors to target up to $30 billion in infrastructure deals, a sign that the firm continues to expand its alternative-investments platform and fee-earning asset base. Reuters article
• Positive Sentiment: JPMorgan increased its holdings of BlackRock’s IBIT Bitcoin ETF by 174%, reinforcing institutional demand for BlackRock’s crypto-linked products and supporting the company’s ETF growth story. Cointelegraph article
• Positive Sentiment: BlackRock is also being highlighted for income-focused ETF demand, with several high-yield iShares funds offering yields above 6%, which may keep assets flowing into its ETF franchise. TipRanks article

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $1,083.05, for a total transaction of $2,166,100.00. Following the sale, the director owned 61,980 shares of the company’s stock, valued at approximately $67,127,439. The trade was a 3.13% decrease in their position. 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 BlackRock stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the sale, the president directly owned 210,186 shares in the company, valued at approximately $222,082,527.60. The trade was a 3.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 45,249 shares of company stock valued at $47,671,714. Company insiders own 1.92% of the company’s stock.

BlackRock 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.