Pekao Towarzystwo Funduszy Inwestycyjnych S.A. Purchases New Shares in BlackRock $BLK

Pekao Towarzystwo Funduszy Inwestycyjnych S.A. purchased a new stake in BlackRock (NYSE:BLK) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 883 shares of the asset manager’s stock, valued at approximately $945,000.

Several other institutional investors have also added to or reduced their stakes in BLK. TruNorth Capital Management LLC boosted its stake in BlackRock by 1,000.0% in the 3rd quarter. TruNorth Capital Management LLC now owns 22 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 20 shares during the period. Hopwood Financial Services Inc. boosted its stake in BlackRock by 866.7% in the 3rd quarter. Hopwood Financial Services Inc. now owns 29 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 26 shares during the period. Collier Financial bought a new stake in BlackRock in the 3rd quarter valued at $36,000. Goodman Advisory Group LLC bought a new stake in BlackRock in the 3rd quarter valued at $37,000. Finally, Dogwood Wealth Management LLC boosted its stake in BlackRock by 94.1% in the 3rd quarter. Dogwood Wealth Management LLC now owns 33 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 16 shares during the period. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,052.56 on Friday. The stock has a market capitalization of $163.71 billion, a PE ratio of 26.42, a P/E/G ratio of 1.41 and a beta of 1.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.98 and a quick ratio of 2.98. The business has a fifty day moving average price of $1,012.55 and a two-hundred day moving average price of $1,067.04. BlackRock has a fifty-two week low of $845.82 and a fifty-two week high of $1,219.94.

BlackRock (NYSE:BLK) last announced 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. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.56 billion. BlackRock had a return on equity of 14.96% and a net margin of 24.40%.The company’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.64 EPS. As a group, equities analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 20,000 shares of the business’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $1,125.00, for a total transaction of $22,500,000.00. Following the completion of the transaction, the director owned 61,894 shares of the company’s stock, valued at approximately $69,630,750. The trade was a 24.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert L. Goldstein sold 54,190 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $1,087.29, for a total value of $58,920,245.10. Following the transaction, the chief operating officer directly owned 51,478 shares of the company’s stock, valued at $55,971,514.62. This trade represents a 51.28% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 84,272 shares of company stock valued at $92,323,426. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley boosted their price target on BlackRock from $1,368.00 to $1,393.00 and gave the company an “overweight” rating in a research note on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of BlackRock in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $1,296.00 to $1,380.00 in a research note on Thursday, January 15th. Wall Street Zen upgraded BlackRock from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Keefe, Bruyette & Woods lifted their price objective on BlackRock from $1,150.00 to $1,240.00 and gave the company an “outperform” rating in a report on Wednesday. One investment 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,266.28.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Q1 results beat expectations — BlackRock reported stronger-than-expected revenue and EPS with healthy net inflows, which supports fee growth and the stock’s rally. BlackRock, Inc. Just Beat Earnings Expectations
• Positive Sentiment: Senior management bullish — Rick Rieder highlighted “extraordinary” equity technicals and strong earnings momentum on Bloomberg, reinforcing a risk-on view that can attract flows into BlackRock products. BlackRock’s Rieder Says Equity Technicals Are Extraordinary
• Positive Sentiment: Analyst support and higher targets — Recent analyst notes and a new UBS price target lift sentiment and provide cover for buyers after the earnings print. BlackRock Given New $1,270.00 Price Target at UBS Group
• Positive Sentiment: Media endorsements and product demand — Commentary (including Jim Cramer) and attention to BlackRock’s private-credit capabilities and high-yield iShares ETFs may support asset-gathering prospects. Jim Cramer Highlights “BlackRock Has Good Private Credit”
• Neutral Sentiment: Product innovation / retirement flows — Coverage about private assets possibly entering 401(k)s and interest in BlackRock dividend/high-yield ETFs could expand addressable market over time, but adoption and regulation are still uncertain. Private Assets Could Join Your 401(k): What You Need To Know 5 Best High-Yield BlackRock Dividend ETFs Paying Over 5%
• Negative Sentiment: Private-credit liquidity concerns — Investors remain wary after a March cap on quarterly repurchases at BlackRock’s HPS corporate-lending vehicle and softer quarter-end AUM versus year-end, which pressured sentiment and prompted a post-earnings pullback earlier in the week. BlackRock slips 3.2% as investors digest Q1 results and lingering private-credit concerns
• Negative Sentiment: Investor lawsuit inquiry — Pomerantz has opened an investigation into BLK investor claims; legal action can create headline risk and potential costs, keeping some investors cautious. Pomerantz Law Firm Investigates Claims On Behalf of Investors of BlackRock

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.