Rockefeller Capital Management L.P. Buys 53,657 Shares of BlackRock $BLK

Rockefeller Capital Management L.P. grew its stake in shares of BlackRock (NYSE:BLK) by 32.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 216,566 shares of the asset manager’s stock after buying an additional 53,657 shares during the period. Rockefeller Capital Management L.P. owned 0.14% of BlackRock worth $231,800,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of BlackRock by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock worth $15,051,846,000 after purchasing an additional 221,123 shares during the period. State Street Corp increased its stake in shares of BlackRock by 0.5% in the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock worth $6,705,193,000 after purchasing an additional 33,752 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of BlackRock by 5,190.3% during the 4th quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after purchasing an additional 5,386,640 shares during the period. Bank of America Corp DE raised its position in shares of BlackRock by 3.0% during the 4th quarter. Bank of America Corp DE now owns 5,197,904 shares of the asset manager’s stock valued at $5,563,524,000 after purchasing an additional 149,902 shares during the period. Finally, Capital Research Global Investors lifted its stake in shares of BlackRock by 0.3% during the 4th quarter. Capital Research Global Investors now owns 3,838,937 shares of the asset manager’s stock valued at $4,108,968,000 after buying an additional 12,019 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Jefferies Financial Group dropped their target price on shares of BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. UBS Group boosted their price objective on BlackRock from $1,235.00 to $1,270.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. BMO Capital Markets upped their price objective on BlackRock from $1,200.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. The Goldman Sachs Group increased their target price on BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Finally, Evercore decreased their target price on 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 investment 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 MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $1,264.61.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s spot Bitcoin ETF continues to act as a gateway for new investors into traditional finance, with Jay Jacobs saying roughly three-quarters of IBIT holders had never owned an ETF before. That supports the case for continued asset-gathering strength in BlackRock’s ETF franchise. Article Title
• Positive Sentiment: BlackRock filed for an iShares Bitcoin Premium Income ETF, a covered-call product aimed at income seekers. The move suggests BlackRock is broadening its crypto ETF lineup and could attract more fee-generating inflows. Article Title
• Positive Sentiment: BlackRock Canada announced June cash distributions for multiple iShares ETFs, reinforcing the company’s large and steady ETF distribution machine, which can be viewed as a sign of recurring product demand. Article Title
• Neutral Sentiment: BlackRock was also highlighted as one of the largest Bitcoin holders, with Arkham data placing it ahead of Binance in BTC count. This reflects the scale of its crypto exposure, but it is more descriptive than fundamentally material on its own. Article Title
• Neutral Sentiment: Coverage comparing BlackRock with Blackstone and news about BlackRock entering the active high-yield ETF arena are broadly supportive of its product expansion, but neither article points to an immediate catalyst for the stock. Article Title
• Negative Sentiment: One headline noted BlackRock “dumps 1,000 Bitcoin” as BTC struggled to hold the $60,000 level. If sustained, weaker crypto prices could dampen sentiment around BlackRock’s Bitcoin-linked products, though the impact on BLK itself is likely limited. Article Title

BlackRock Stock Performance

BLK opened at $1,051.51 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. The stock has a market capitalization of $163.23 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 1.37 and a beta of 1.42. The company has a fifty day moving average of $1,047.92 and a 200 day moving average of $1,051.90. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly earnings results 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 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 business’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.64 EPS. As a group, sell-side analysts forecast that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Announces Dividend

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

Insider Buying and Selling

In other news, President Robert Kapito sold 8,739 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the sale, the president directly owned 210,186 shares of the company’s stock, valued at $222,082,527.60. This represents a 3.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 230,516 shares in the company, 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. 1.92% of the stock is currently owned by corporate insiders.

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.