Johnson Financial Group LLC Buys Shares of 3,539 BlackRock $BLK

Johnson Financial Group LLC purchased a new position in shares of BlackRock (NYSE:BLK) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 3,539 shares of the asset manager’s stock, valued at approximately $3,788,000. BlackRock accounts for about 0.2% of Johnson Financial Group LLC’s holdings, making the stock its 24th biggest position.

Other hedge funds also recently modified their holdings of the company. Hopwood Financial Services Inc. grew its holdings in BlackRock by 866.7% during the third 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. Birchbrook Inc. bought a new stake in shares of BlackRock in the fourth quarter valued at $31,000. Basepoint Wealth LLC bought a new position in shares of BlackRock during the 4th quarter worth $32,000. LFA Lugano Financial Advisors SA purchased a new stake in BlackRock in the 4th quarter worth about $32,000. Finally, Collier Financial purchased a new stake in BlackRock in the 3rd quarter worth about $36,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK opened at $991.94 on Thursday. The stock’s 50-day simple moving average is $1,032.33 and its two-hundred day simple moving average is $1,051.99. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The firm has a market capitalization of $153.98 billion, a P/E ratio of 24.90, a P/E/G ratio of 1.33 and a beta of 1.42. 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 (NYSE:BLK) last issued its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping the consensus estimate of $12.40 by $0.13. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.BlackRock’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.64 earnings per share. As a group, equities analysts anticipate that BlackRock will post 52.8 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be issued a $5.73 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.3%. BlackRock’s dividend payout ratio is presently 57.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Morgan Stanley upped their price objective on shares of BlackRock from $1,368.00 to $1,393.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. JPMorgan Chase & Co. lowered 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. TD Cowen dropped their price target on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a research note on Thursday, April 9th. UBS Group lifted their price objective on shares of BlackRock from $1,235.00 to $1,270.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Finally, Barclays raised their price target on BlackRock from $1,290.00 to $1,310.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. One 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,269.06.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock disclosed a 5% stake in Kiwi Property Group, signaling continued activity in its institutional investment portfolio and potentially reinforcing confidence in its deal flow and global capital allocation franchise. BlackRock Takes 5% Stake in Kiwi Property Group
• Positive Sentiment: Jio BlackRock plans to give Indian investors access to global BlackRock ETFs via GIFT City, which could expand the firm’s international ETF distribution and long-term assets under management. Jio BlackRock plans access to global BlackRock ETFs for Indian investors via GIFT City
• Positive Sentiment: BlackRock executives remained constructive on markets, with Rick Rieder saying earnings growth and cash moving back into stocks support the bull case, which may help investor sentiment toward the firm’s asset-management outlook. Why BlackRock’s Rick Rieder feels ‘a bit more relaxed’ about AI bull market than dotcom era
• Neutral Sentiment: BlackRock launched a $25 million Future Builders grant initiative to support skilled trades training; the move is more reputational and philanthropic than immediately material to earnings. BlackRock Future Builders RFP Links Skilled Trades Philanthropy And Client Relations
• Neutral Sentiment: BlackRock also updated ETF methodologies and climate screens in Asia, and lifted its OMV stake above 4%, both of which reflect ongoing portfolio management but are unlikely to move BLK shares on their own. BlackRock Tightens Tracking and Refines Climate Screens for India and Asia ex Japan iShares ETFs BlackRock Lifts OMV Stake Above 4% Threshold
• Negative Sentiment: One Reuters report said BlackRock’s Atlas Renewable Energy froze $1 billion in Brazil renewables investments after grid rejection issues, which may raise concerns about delays in part of its infrastructure/energy growth strategy. BlackRock’s Atlas freezes $1 billion in Brazil renewables investments
• Negative Sentiment: Ryanair disclosed that BlackRock cut its stake below 3%, which may be viewed as a modest sign of reduced exposure in one institutional holding. Ryanair Discloses BlackRock Stake Cut Below 3% Threshold

Insider Buying and Selling at BlackRock

In other news, President Robert Kapito sold 8,739 shares of the firm’s stock in a transaction on 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 sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Laurence Fink sold 33,900 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer owned 230,516 shares of the company’s stock, valued at $242,168,583.80. This trade represents a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.92% of the company’s stock.

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.