Fifth Third Bancorp Has $111.70 Million Stock Holdings in BlackRock $BLK

Fifth Third Bancorp boosted its position in shares of BlackRock (NYSE:BLK) by 65.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,149 shares of the asset manager’s stock after acquiring an additional 45,753 shares during the period. Fifth Third Bancorp’s holdings in BlackRock were worth $111,702,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Simplicity Wealth LLC grew its holdings in shares of BlackRock by 10.4% during the 1st quarter. Simplicity Wealth LLC now owns 808 shares of the asset manager’s stock worth $777,000 after purchasing an additional 76 shares in the last quarter. Osprey Private Wealth LLC lifted its position in BlackRock by 8.2% in the first quarter. Osprey Private Wealth LLC now owns 9,882 shares of the asset manager’s stock worth $9,504,000 after purchasing an additional 750 shares during the period. Conning Inc. boosted its stake in BlackRock by 22.1% during the first quarter. Conning Inc. now owns 38,102 shares of the asset manager’s stock worth $36,643,000 after buying an additional 6,905 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in BlackRock by 8.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 47,403 shares of the asset manager’s stock valued at $45,588,000 after buying an additional 3,653 shares during the period. Finally, Mosaic Family Wealth Partners LLC acquired a new position in shares of BlackRock in the 1st quarter valued at $389,000. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, 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 value of $35,613,645.00. Following the completion of the transaction, 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 SEC, which can be accessed through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the stock in a transaction on 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 sale, the president owned 210,186 shares in the company, valued at $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. Company insiders own 1.92% of the company’s stock.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on BlackRock and maintained an outperform rating, signaling confidence ahead of earnings.
• Positive Sentiment: Barclays lifted its price target on BlackRock to $1,340 and kept an overweight rating, reflecting expectations for continued business momentum.
• Positive Sentiment: Analysts expect Q2 results to benefit from ETF inflows, higher market levels, and growth in assets under management, which could support earnings and revenue.
• Neutral Sentiment: BlackRock’s newer crypto-related products, including its Bitcoin income ETF and BUIDL tokenized treasury fund, are attracting attention but are not yet a major earnings driver.
• Neutral Sentiment: Broad crypto ETF outflows were reported, though BlackRock’s IBIT was flat, limiting direct negative impact on the company.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BLK shares. UBS Group lifted their target price on shares of BlackRock from $1,235.00 to $1,270.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Weiss Ratings upgraded shares of BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Keefe, Bruyette & Woods lifted their price objective on BlackRock from $1,240.00 to $1,275.00 and gave the company an “outperform” rating in a report on Friday. Jefferies Financial Group dropped their target price on BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. cut their target price on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,273.33.

BlackRock Price Performance

Shares of BlackRock stock traded up $16.50 during mid-day trading on Friday, reaching $1,036.18. 595,032 shares of the stock were exchanged, compared to its average volume of 794,052. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The company has a market cap of $160.85 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.32 and a beta of 1.43. The firm has a 50-day simple moving average of $1,034.39 and a 200 day simple moving average of $1,044.04. 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 (NYSE:BLK) last released its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, beating analysts’ consensus estimates of $12.40 by $0.13. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The company’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 business earned $9.64 earnings per share. On average, sell-side analysts predict that BlackRock will post 53.96 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 5th were given a dividend of $5.73 per share. The ex-dividend date was Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. BlackRock’s dividend payout ratio is 57.53%.

BlackRock 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.