BlackRock $BLK Shares Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC grew its stake in BlackRock (NYSE:BLK) by 159.9% during the first quarter, HoldingsChannel.com reports. The firm owned 9,631 shares of the asset manager’s stock after purchasing an additional 5,925 shares during the period. Elevation Point Wealth Partners LLC’s holdings in BlackRock were worth $9,263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in BlackRock by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock valued at $15,051,846,000 after buying an additional 221,123 shares during the last quarter. State Street Corp lifted its position in BlackRock by 0.5% in the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock worth $6,705,193,000 after purchasing an additional 33,752 shares during the period. Corient Private Wealth LLC boosted its stake in BlackRock by 5,190.3% during the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after buying an additional 5,386,640 shares in the last quarter. Bank of America Corp DE boosted its position in shares of BlackRock by 3.0% during the 4th quarter. Bank of America Corp DE now owns 5,197,904 shares of the asset manager’s stock valued at $5,563,524,000 after purchasing an additional 149,902 shares in the last quarter. Finally, Capital Research Global Investors grew its position in BlackRock by 0.3% in the fourth quarter. Capital Research Global Investors now owns 3,838,937 shares of the asset manager’s stock worth $4,108,968,000 after buying an additional 12,019 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 33,900 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the sale, the chief executive officer owned 230,516 shares in the company, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Robert Kapito sold 8,739 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the sale, the president owned 210,186 shares of the company’s stock, valued at $222,082,527.60. This trade represents a 3.99% decrease in their position. The SEC filing for this sale provides additional information. 1.92% of the stock is currently owned by company insiders.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: The U.S. Treasury chose BlackRock’s IVV and ITOT ETFs for the new Trump Accounts program, which could boost future ETF inflows and reinforce BlackRock’s position in low-cost index investing. US Treasury picks BlackRock, Vanguard ETFs for Trump Accounts
• Positive Sentiment: BlackRock’s BUIDL tokenized treasury product continued to grow even as crypto-native yield products shrank, underscoring demand for asset-backed digital products tied to traditional markets. Yield-bearing stablecoin slowdown ends three-year run for crypto-native products
• Positive Sentiment: BlackRock was also highlighted in articles about expanding tokenization efforts and ETF adoption, which may help support longer-term growth narratives around its iShares franchise. Ondo Finance brings U.S. stocks onchain for the first time following SEC guidance
• Positive Sentiment: Analyst notes saying BlackRock has a strong history of beating earnings estimates may also be helping sentiment ahead of its next report on July 15. Will BlackRock (BLK) Beat Estimates Again in Its Next Earnings Report?

BlackRock Stock Up 1.4%

Shares of BLK opened at $994.50 on Friday. 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 company has a 50-day moving average price of $1,039.37 and a two-hundred day moving average price of $1,046.33. The stock has a market cap of $154.38 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 1.26 and a beta of 1.43. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the company posted $9.64 EPS. The company’s revenue was up 27.0% compared to the same quarter last year. Equities analysts predict that BlackRock will post 53.34 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th were paid a dividend of $5.73 per share. This represents a $22.92 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, June 5th. BlackRock’s dividend payout ratio is currently 57.53%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BLK. Weiss Ratings upgraded shares of BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Evercore reduced their price target on BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating for the company in a report on Monday, June 8th. TD Cowen decreased their price objective on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a report on Thursday, April 9th. Morgan Stanley increased their price target on BlackRock from $1,393.00 to $1,430.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Finally, UBS Group lifted their price objective on BlackRock from $1,235.00 to $1,270.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,269.44.

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.