Allen Investment Management LLC Invests $576,000 in BlackRock $BLK

Allen Investment Management LLC purchased a new stake in shares of BlackRock (NYSE:BLK) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 538 shares of the asset manager’s stock, valued at approximately $576,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its holdings in shares of BlackRock by 0.8% in the fourth quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager’s stock worth $985,331,000 after buying an additional 7,457 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in BlackRock by 6,347.9% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 42,234 shares of the asset manager’s stock valued at $49,239,000 after acquiring an additional 41,579 shares during the period. Sienna Gestion grew its position in BlackRock by 51.5% in the 3rd quarter. Sienna Gestion now owns 22,859 shares of the asset manager’s stock valued at $24,299,000 after acquiring an additional 7,773 shares during the last quarter. Sarasin & Partners LLP grew its position in BlackRock by 10.6% in the 4th quarter. Sarasin & Partners LLP now owns 251,856 shares of the asset manager’s stock valued at $269,572,000 after acquiring an additional 24,196 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in BlackRock by 8.9% in the third quarter. PNC Financial Services Group Inc. now owns 360,995 shares of the asset manager’s stock worth $420,873,000 after purchasing an additional 29,449 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 33,900 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the transaction, the president owned 210,186 shares in the company, valued at approximately $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 insiders.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s Rick Rieder said earnings growth and cash moving back into markets support a bullish case for stocks, which reinforces confidence in the firm’s market outlook and asset-management franchise. Why BlackRock’s Rick Rieder feels ‘a bit more relaxed’ about AI bull market than dotcom era
• Positive Sentiment: BlackRock increased its stake in OMV to 4.67%, signaling continued active investment activity and influence in large institutional holdings. BlackRock Lifts OMV Stake Above 4 Threshold
• Positive Sentiment: Financial stocks were broadly higher in Tuesday trading, which could provide a sector tailwind for BlackRock as an asset manager. Sector Update: Financial Stocks Advance Tuesday Afternoon
• Neutral Sentiment: BlackRock launched a $25 million Future Builders RFP to support skilled trades workforce development, a reputationally positive move but not likely to have a direct near-term earnings impact. BlackRock Future Builders RFP Links Skilled Trades Philanthropy And Client Relations
• Neutral Sentiment: BlackRock refined tracking and climate-screen methodology for certain iShares ETFs in India and Asia ex-Japan, a product update that is unlikely to materially move the stock on its own. BlackRock Tightens Tracking and Refines Climate Screens for India and Asia ex Japan iShares ETFs
• Negative Sentiment: BlackRock’s crypto-related ETFs are seeing heavy outflows, including a reported $1.26 billion sale of IBIT shares and broader weekly outflows from spot Bitcoin ETFs, which could weigh on sentiment around the company’s rapidly watched digital-asset business. NYDIG suggests $1.3B IBIT sale was whale exiting directional trade
• Negative Sentiment: Reports that BlackRock’s crypto portfolio value fell by more than $13 billion over five months add to concerns about weaker performance in its digital-asset exposure. BlackRock crypto portfolio fell by over $13 billion in 5 months

BlackRock Stock Performance

Shares of BLK stock opened at $1,019.74 on Wednesday. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94. The business’s fifty day simple moving average is $1,030.75 and its 200-day simple moving average is $1,053.05. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. The company has a market cap of $158.30 billion, a PE ratio of 25.60, a PEG ratio of 1.33 and a beta of 1.42.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, topping analysts’ consensus estimates of $12.40 by $0.13. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the firm earned $9.64 EPS. The business’s quarterly revenue was up 27.0% on a year-over-year basis. Analysts expect that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders 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 of this dividend is Friday, June 5th. BlackRock’s dividend payout ratio (DPR) is currently 57.53%.

Wall Street Analysts Forecast Growth

BLK has been the subject of several research analyst reports. Morgan Stanley lifted their target price on BlackRock from $1,368.00 to $1,393.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. CICC Research raised their price target on shares of BlackRock from $1,000.00 to $1,250.00 in a research note on Tuesday, February 3rd. Weiss Ratings upgraded shares of BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Jefferies Financial Group decreased their target price on BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Finally, TD Cowen reduced their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,269.06.

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.