Moore Capital Management LP acquired a new position in BlackRock (NYSE:BLK – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 22,336 shares of the asset manager’s stock, valued at approximately $23,907,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. acquired a new position in BlackRock in the 4th quarter worth approximately $26,000. Birchbrook Inc. acquired a new position in BlackRock in the 4th quarter worth approximately $31,000. Basepoint Wealth LLC acquired a new position in BlackRock in the 4th quarter worth approximately $32,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of BlackRock during the 4th quarter valued at $32,000. Finally, Swiss RE Ltd. acquired a new stake in shares of BlackRock during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 80.69% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of BlackRock from $1,200.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Morgan Stanley lifted their target price on shares of BlackRock from $1,368.00 to $1,393.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. TD Cowen decreased their target price on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. Barclays raised their price target on shares of BlackRock from $1,290.00 to $1,310.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Finally, Weiss Ratings upgraded shares of BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,264.61.
Insider Buying and Selling at BlackRock
In related news, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction on 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 transaction, the president owned 210,186 shares in the company, valued at $222,082,527.60. This trade represents a 3.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the completion of the transaction, the chief executive officer owned 230,516 shares in the company, valued at $242,168,583.80. This trade represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.92% of the company’s stock.
BlackRock Stock Up 0.6%
BlackRock stock opened at $1,058.34 on Thursday. The company has a market capitalization of $164.29 billion, a P/E ratio of 26.56, a P/E/G ratio of 1.37 and a beta of 1.42. The firm’s fifty day simple moving average is $1,045.02 and its 200-day simple moving average is $1,051.88. 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 has a 1-year low of $917.39 and a 1-year high of $1,219.94.
BlackRock (NYSE:BLK – Get Free Report) last announced its earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping the consensus estimate of $12.40 by $0.13. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The business’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the firm posted $9.64 EPS. Sell-side analysts forecast that BlackRock will post 52.8 earnings per share for the current fiscal year.
BlackRock Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 5th will be issued a $5.73 dividend. This represents a $22.92 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, June 5th. BlackRock’s dividend payout ratio (DPR) is 57.53%.
BlackRock News Summary
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: BlackRock Canada announced June cash distributions for its iShares ETFs, a routine update that reinforces the scale and ongoing yield appeal of BlackRock’s ETF franchise. BlackRock Canada Announces June Cash Distributions for the iShares ETFs
- Positive Sentiment: BlackRock launched new bitcoin income products, including the iShares Bitcoin Premium Income ETF, expanding its digital-assets suite and potentially attracting more fee-generating assets. BlackRock (BLK) Launches Bitcoin Income ETF To Expand Its Digital Assets Suite
- Positive Sentiment: BlackRock’s crypto-related strategy is also being highlighted in coverage about strong spot ETF inflows and a long-term bullish view on bitcoin from its investment team, which may support investor confidence in the firm’s growth areas. Bitcoin and Ethereum Derivatives See 1.7B Binance Open Interest Reset
- Neutral Sentiment: BlackRock is being mentioned in market commentary around the Federal Reserve keeping rates steady, which matters for asset prices and flows but does not directly change BlackRock’s fundamentals. Federal Reserve Holds Rates Steady as Officials Signal Potential Hikes Under New Chair Kevin Warsh
- Negative Sentiment: BlackRock is cutting nearly 200 jobs as it pushes for greater efficiency, a sign of cost discipline but also a reminder that management is still trimming expenses amid broader restructuring efforts. BlackRock Cuts Jobs Again Amid Growth and Efficiency Push
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.
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