Marble Wealth LLC Takes $844,000 Position in BlackRock $BLK

Marble Wealth LLC bought a new stake in shares of BlackRock (NYSE:BLK) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 788 shares of the asset manager’s stock, valued at approximately $844,000.

A number of other institutional investors have also recently modified their holdings of BLK. Brighton Jones LLC lifted its position in shares of BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after acquiring an additional 296 shares during the period. Bison Wealth LLC lifted its position in shares of BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after acquiring an additional 17 shares during the period. Schnieders Capital Management LLC. bought a new stake in shares of BlackRock during the 2nd quarter valued at $259,000. Nebula Research & Development LLC bought a new stake in shares of BlackRock during the 2nd quarter valued at $548,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of BlackRock during the 2nd quarter valued at $98,000. 80.69% of the stock is currently owned by institutional investors.

Insider Transactions at BlackRock

In other BlackRock news, CEO Laurence Fink sold 33,900 shares of the company’s 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 transaction, the chief executive officer owned 230,516 shares of the company’s stock, valued at $242,168,583.80. This represents a 12.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Robert Kapito sold 8,739 shares of the company’s 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 completion of the transaction, the president directly owned 210,186 shares of the company’s stock, valued at approximately $222,082,527.60. The trade was a 3.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is owned by corporate insiders.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock disclosed a 5% stake in Kiwi Property Group, signaling continued activity in its institutional investment portfolio and potentially reinforcing confidence in its deal flow and global capital allocation franchise. BlackRock Takes 5% Stake in Kiwi Property Group
• Positive Sentiment: Jio BlackRock plans to give Indian investors access to global BlackRock ETFs via GIFT City, which could expand the firm’s international ETF distribution and long-term assets under management. Jio BlackRock plans access to global BlackRock ETFs for Indian investors via GIFT City
• Positive Sentiment: BlackRock executives remained constructive on markets, with Rick Rieder saying earnings growth and cash moving back into stocks support the bull case, which may help investor sentiment toward the firm’s asset-management outlook. Why BlackRock’s Rick Rieder feels ‘a bit more relaxed’ about AI bull market than dotcom era
• Neutral Sentiment: BlackRock launched a $25 million Future Builders grant initiative to support skilled trades training; the move is more reputational and philanthropic than immediately material to earnings. BlackRock Future Builders RFP Links Skilled Trades Philanthropy And Client Relations
• Neutral Sentiment: BlackRock also updated ETF methodologies and climate screens in Asia, and lifted its OMV stake above 4%, both of which reflect ongoing portfolio management but are unlikely to move BLK shares on their own. BlackRock Tightens Tracking and Refines Climate Screens for India and Asia ex Japan iShares ETFs BlackRock Lifts OMV Stake Above 4% Threshold
• Negative Sentiment: One Reuters report said BlackRock’s Atlas Renewable Energy froze $1 billion in Brazil renewables investments after grid rejection issues, which may raise concerns about delays in part of its infrastructure/energy growth strategy. BlackRock’s Atlas freezes $1 billion in Brazil renewables investments
• Negative Sentiment: Ryanair disclosed that BlackRock cut its stake below 3%, which may be viewed as a modest sign of reduced exposure in one institutional holding. Ryanair Discloses BlackRock Stake Cut Below 3% Threshold

BlackRock Price Performance

BlackRock stock opened at $991.94 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94. The stock has a market capitalization of $153.98 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 1.33 and a beta of 1.42. The stock has a fifty day moving average of $1,032.33 and a 200-day moving average of $1,051.99.

BlackRock (NYSE:BLK) last posted its quarterly earnings results 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 return on equity of 14.74% and a net margin of 24.40%.The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the previous year, the firm earned $9.64 EPS. BlackRock’s revenue was up 27.0% on a year-over-year basis. On average, sell-side analysts expect that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be issued a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, June 5th. BlackRock’s dividend payout ratio is presently 57.53%.

Wall Street Analyst Weigh In

BLK has been the subject of a number of recent analyst reports. Weiss Ratings upgraded BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. Morgan Stanley upped 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. The Goldman Sachs Group boosted their price target on BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. UBS Group boosted their price target on BlackRock from $1,235.00 to $1,270.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Finally, TD Cowen lowered their price target on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average 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.