Tredje AP fonden Takes Position in BlackRock $BLK

Tredje AP fonden acquired a new stake in shares of BlackRock (NYSE:BLK) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 51,034 shares of the asset manager’s stock, valued at approximately $54,624,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Birchbrook Inc. bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $32,000. Hopwood Financial Services Inc. increased its position in shares of 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. Collier Financial bought a new stake in shares of BlackRock during the third quarter valued at approximately $36,000. Finally, Goodman Advisory Group LLC bought a new stake in shares of BlackRock during the third quarter valued at approximately $37,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $1,085.60 on Tuesday. The business’s fifty day moving average price is $1,010.27 and its two-hundred day moving average price is $1,054.76. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The stock has a market capitalization of $168.52 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the prior year, the business posted $9.64 earnings per share. The business’s revenue was up 27.0% compared to the same quarter last year. As a group, analysts predict that BlackRock will post 52.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Evercore restated an “outperform” rating and set a $1,220.00 price objective on shares of BlackRock in a research report on Wednesday, April 15th. TD Cowen lowered their price objective on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a research report on Thursday, April 9th. JPMorgan Chase & Co. lowered their price objective on 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. The Goldman Sachs Group boosted their price objective on BlackRock from $1,181.00 to $1,313.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Finally, CICC Research boosted their price objective on BlackRock from $1,000.00 to $1,250.00 in a research report on Tuesday, February 3rd. One 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 company’s stock. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $1,269.06.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock reportedly struck a €15 billion partnership with Citi to expand private European lending, which could deepen its presence in private credit and generate more fee revenue. Citi strikes €15bn partnership with BlackRock for private European lending
• Positive Sentiment: A wealth manager bought $5.8 million of BlackRock’s Active Country Rotation ETF, a small but favorable signal for continued demand for BlackRock-managed products. This Wealth Manager Just Bet $5.8 Million on BlackRock’s Active Country Rotation ETF
• Positive Sentiment: BlackRock is also being linked to a potential multi-billion-dollar investment in SpaceX’s IPO, which highlights its ability to participate in marquee capital-markets opportunities. BlackRock is said to weigh investing billions in SpaceX IPO
• Neutral Sentiment: BlackRock disclosed it crossed above a 3% stake in Fagron, reflecting active portfolio positioning but not a major stock-moving event by itself. Disclosure of transparency notifications from BlackRock, Inc.
• Neutral Sentiment: Commentary around BlackRock ETFs and long-term valuation suggests ongoing investor debate about the stock’s upside, but nothing conclusive enough to move shares on its own. Vanguard’s VOO vs. BlackRock’s DGRO: One ETF Offers Better Upside, Says Investor
• Negative Sentiment: BlackRock’s private credit fund is facing DOJ scrutiny over valuation practices, adding regulatory and reputational risk to an important growth area. BlackRock’s Troubled Private Credit Fund Draws DOJ Scrutiny
• Negative Sentiment: Separate reports said the Manhattan U.S. Attorney’s office is seeking information on BlackRock TCP Capital Corp., reinforcing concern that private-credit oversight could become a larger issue. BlackRock private credit fund’s valuations are probed by DOJ
• Negative Sentiment: BlackRock’s Bitcoin ETF saw accelerated selling after weeks of inflows, which may weigh on sentiment around its crypto-linked assets under management. BlackRock accelerates Bitcoin selloff amid bearish sentiment
• Negative Sentiment: BlackRock reportedly capped withdrawals from one of its private credit funds, a sign of stress in the asset class that may raise investor caution. The Asset Manager Whose Private Credit Fund Just Capped Withdrawals. Should BlackRock Investors Worry?
• Negative Sentiment: Harvard reportedly sold its entire Ethereum stake after previously buying BlackRock’s Ethereum ETF, a data point that could suggest softer enthusiasm for the product category. Harvard sold off its entire $87 million Ethereum stake just one quarter after buying it

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 385 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $1,084.91, for a total value of $417,690.35. Following the sale, the director directly owned 3,335 shares in the company, valued at $3,618,174.85. This represents a 10.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen Cohen sold 225 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $1,069.56, for a total value of $240,651.00. Following the completion of the sale, the director owned 5,661 shares in the company, valued at $6,054,779.16. This trade represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 45,249 shares of company stock valued at $47,671,714. 1.92% of the stock is currently owned by 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.