Montrusco Bolton Investments Inc. Has $37.44 Million Stake in BlackRock $BLK

Montrusco Bolton Investments Inc. lessened its position in BlackRock (NYSE:BLK) by 84.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,933 shares of the asset manager’s stock after selling 209,032 shares during the period. Montrusco Bolton Investments Inc.’s holdings in BlackRock were worth $37,442,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in BLK. Shum Financial Group Inc. boosted its holdings in shares of BlackRock by 0.4% during the fourth quarter. Shum Financial Group Inc. now owns 2,183 shares of the asset manager’s stock worth $2,336,000 after acquiring an additional 9 shares during the period. First Bancorp Inc ME increased its holdings in shares of BlackRock by 2.9% during the fourth 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. increased its holdings in shares of BlackRock by 2.1% during the fourth 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. raised its position in shares of BlackRock by 1.2% in the fourth quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager’s stock valued at $808,000 after buying an additional 9 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its stake in shares of BlackRock by 23.8% in the third quarter. Tortoise Investment Management LLC now owns 52 shares of the asset manager’s stock valued at $61,000 after buying an additional 10 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction that occurred 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 of the company’s stock, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the company’s 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 value of $9,233,627.40. Following the completion of the transaction, the president owned 210,186 shares in the company, valued at approximately $222,082,527.60. The trade was a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.92% of the company’s stock.

BlackRock Stock Down 0.1%

Shares of NYSE:BLK opened at $994.50 on Friday. The business’s 50 day moving average is $1,038.02 and its 200 day moving average is $1,045.97. The stock has a market cap of $154.38 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 1.28 and a beta of 1.43. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. 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 results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, topping the consensus estimate of $12.40 by $0.13. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company earned $9.64 earnings per share. On average, sell-side analysts forecast that BlackRock will post 53.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s ETFs were included in the Treasury’s approved lineup for Trump Accounts, potentially expanding assets and visibility for the firm’s flagship products. Reference
• Positive Sentiment: Articles highlighted continued analyst optimism around BlackRock’s earnings setup, with expectations that the company could beat estimates again when it reports next quarter. Article: Will BlackRock (BLK) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Tokenized versions of BlackRock’s IVV ETF were launched by Ondo Finance under SEC guidance, reinforcing BlackRock’s relevance in the growing onchain asset market. Article: BlackRock (BLK) Stock Fair Value Edges Higher As Analysts Debate Earnings And Flows
• Neutral Sentiment: BlackRock also disclosed a small reduction in its voting stake in Umicore, but the filing appears routine and unlikely to materially affect BLK shares. Article: Umicore – Transparency notification by BlackRock, Inc.
• Neutral Sentiment: Crypto headlines were mixed, with Bitcoin ETF outflows and broader crypto weakness offset by growing demand for BlackRock’s tokenized BUIDL product. Article: Yield-bearing stablecoin slowdown ends three-year run for crypto-native products

Analysts Set New Price Targets

Several analysts have recently issued reports on BLK shares. BNP Paribas Exane increased their target price on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Keefe, Bruyette & Woods boosted their target price on shares of 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 upped their price target on shares of BlackRock from $1,393.00 to $1,430.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. JPMorgan Chase & Co. reduced their price target on shares of 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. Finally, Evercore decreased their price objective on shares of BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating on the stock in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.