Cambridge Investment Research Advisors Inc. Purchases 461 Shares of BlackRock $BLK

Cambridge Investment Research Advisors Inc. raised its position in BlackRock (NYSE:BLK) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,259 shares of the asset manager’s stock after buying an additional 461 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in BlackRock were worth $23,824,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BLK. Lingohr Asset Management GmbH bought a new stake in shares of BlackRock during the 3rd quarter valued at $700,000. Ontario Teachers Pension Plan Board raised its stake in shares of BlackRock by 6,347.9% during 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 period. Sienna Gestion raised its stake in shares of BlackRock by 51.5% during 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 period. Sarasin & Partners LLP raised its stake in shares of BlackRock by 10.6% during 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 period. Finally, PNC Financial Services Group Inc. raised its stake in shares of BlackRock by 8.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 360,995 shares of the asset manager’s stock valued at $420,873,000 after purchasing an additional 29,449 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock reportedly struck a €15 billion partnership with Citi to expand private European lending, which could deepen its presence in private credit and generate more fee revenue. Citi strikes €15bn partnership with BlackRock for private European lending
• Positive Sentiment: A wealth manager bought $5.8 million of BlackRock’s Active Country Rotation ETF, a small but favorable signal for continued demand for BlackRock-managed products. This Wealth Manager Just Bet $5.8 Million on BlackRock’s Active Country Rotation ETF
• Positive Sentiment: BlackRock is also being linked to a potential multi-billion-dollar investment in SpaceX’s IPO, which highlights its ability to participate in marquee capital-markets opportunities. BlackRock is said to weigh investing billions in SpaceX IPO
• Neutral Sentiment: BlackRock disclosed it crossed above a 3% stake in Fagron, reflecting active portfolio positioning but not a major stock-moving event by itself. Disclosure of transparency notifications from BlackRock, Inc.
• Neutral Sentiment: Commentary around BlackRock ETFs and long-term valuation suggests ongoing investor debate about the stock’s upside, but nothing conclusive enough to move shares on its own. Vanguard’s VOO vs. BlackRock’s DGRO: One ETF Offers Better Upside, Says Investor
• Negative Sentiment: BlackRock’s private credit fund is facing DOJ scrutiny over valuation practices, adding regulatory and reputational risk to an important growth area. BlackRock’s Troubled Private Credit Fund Draws DOJ Scrutiny
• Negative Sentiment: Separate reports said the Manhattan U.S. Attorney’s office is seeking information on BlackRock TCP Capital Corp., reinforcing concern that private-credit oversight could become a larger issue. BlackRock private credit fund’s valuations are probed by DOJ
• Negative Sentiment: BlackRock’s Bitcoin ETF saw accelerated selling after weeks of inflows, which may weigh on sentiment around its crypto-linked assets under management. BlackRock accelerates Bitcoin selloff amid bearish sentiment
• Negative Sentiment: BlackRock reportedly capped withdrawals from one of its private credit funds, a sign of stress in the asset class that may raise investor caution. The Asset Manager Whose Private Credit Fund Just Capped Withdrawals. Should BlackRock Investors Worry?
• Negative Sentiment: Harvard reportedly sold its entire Ethereum stake after previously buying BlackRock’s Ethereum ETF, a data point that could suggest softer enthusiasm for the product category. Harvard sold off its entire $87 million Ethereum stake just one quarter after buying it

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $1,083.05, for a total value of $2,166,100.00. Following the completion of the transaction, the director directly owned 61,980 shares in the company, valued at approximately $67,127,439. This represents a 3.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen Cohen sold 225 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $1,069.56, for a total value of $240,651.00. Following the completion of the transaction, the director owned 5,661 shares of the company’s stock, valued at $6,054,779.16. The trade was a 3.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 45,249 shares of company stock valued at $47,671,714 over the last quarter. 1.92% of the stock is owned by company insiders.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,085.60 on Tuesday. The firm has a market capitalization of $168.52 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.41 and a beta of 1.44. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. The stock’s 50-day simple moving average is $1,010.27 and its two-hundred day simple moving average is $1,054.76. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.40 by $0.13. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.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 prior year, the business earned $9.64 EPS. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, equities analysts anticipate that BlackRock will post 52.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on BLK shares. Freedom Capital upgraded BlackRock from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. UBS Group boosted their price objective on BlackRock from $1,235.00 to $1,270.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods boosted their price objective on BlackRock from $1,150.00 to $1,240.00 and gave the company an “outperform” rating in a research note on Wednesday, April 15th. JPMorgan Chase & Co. decreased their price objective on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating on the stock in a research note on Monday, April 13th. Finally, Barclays boosted their price objective on BlackRock from $1,290.00 to $1,310.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,269.06.

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.