TD Asset Management Inc Sells 1,873 Shares of BlackRock $BLK

TD Asset Management Inc reduced its position in BlackRock (NYSE:BLK) by 2.9% during the fourth quarter, HoldingsChannel reports. The fund owned 61,669 shares of the asset manager’s stock after selling 1,873 shares during the quarter. TD Asset Management Inc’s holdings in BlackRock were worth $66,007,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Evolution Wealth Management Inc. bought a new stake in BlackRock in the 4th quarter valued at about $26,000. Birchbrook Inc. bought a new stake in BlackRock in the 4th quarter valued at about $31,000. LFA Lugano Financial Advisors SA purchased a new position in BlackRock during the 4th quarter valued at about $32,000. Basepoint Wealth LLC purchased a new position in BlackRock during the 4th quarter valued at about $32,000. Finally, Hopwood Financial Services Inc. grew its holdings in BlackRock by 866.7% during the 3rd quarter. Hopwood Financial Services Inc. now owns 29 shares of the asset manager’s stock valued at $34,000 after buying an additional 26 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Down 2.5%

Shares of NYSE BLK opened at $996.54 on Friday. The firm has a market capitalization of $154.70 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.33 and a beta of 1.42. The business has a 50-day moving average of $1,033.61 and a 200-day moving average of $1,051.36. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.40 by $0.13. The business 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 for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.64 earnings per share. Sell-side analysts expect that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be paid a $5.73 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $22.92 annualized dividend and a yield of 2.3%. BlackRock’s dividend payout ratio is currently 57.53%.

Insider Activity at BlackRock

In other BlackRock 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 value of $9,233,627.40. Following the completion of the sale, the president owned 210,186 shares of the company’s stock, valued at $222,082,527.60. This represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 completion of the sale, the chief executive officer directly owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. This represents a 12.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.92% of the stock is owned by corporate insiders.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) reported its first daily inflow in 13 days, bringing in $47.66 million and ending a recent streak of outflows. That suggests at least some stabilization in one of BlackRock’s most-watched ETF products. BlackRock Records First Bitcoin ETF Inflow in 13 Days
• Positive Sentiment: BlackRock executives sounded constructive on the macro backdrop, with commentary on a solid U.S. jobs report, AI-driven market trends, and the Fed’s likely patience on rates. Softer rate-hike expectations can support risk assets and asset-manager sentiment. BlackRock’s Rieder Talks Jobs Report, AI and Markets
• Positive Sentiment: BlackRock disclosed that its combined stake in Orion Corporation rose above 5%, highlighting ongoing portfolio activity and continued influence as a major global shareholder. Orion Corporation Disclosure Under Chapter 9 Section 10 of the Securities Market Act (BlackRock, Inc.)
• Neutral Sentiment: One analyst write-up said BlackRock’s fair value estimate was trimmed only slightly, pointing to mixed Street views rather than a major shift in fundamentals. Why The Narrative Around BlackRock (BLK) Is Shifting After Mixed Analyst Target Resets
• Neutral Sentiment: BlackRock’s portfolio manager Jeffrey Rosenberg said the Fed is not in a hurry to raise rates, reinforcing the view that policy may remain supportive for markets, though the comment itself is not company-specific. Fed Is In No Hurry To Raise Rates, BlackRock’s Rosenberg Says
• Negative Sentiment: BlackRock was also included in a sector-wide selloff tied to redemption concerns around Cliffwater’s Corporate Lending Fund, which raised fresh worries about liquidity in alternative credit products. Alternative Managers Shares Slip as Cliffwater Redemption Fears Mount
• Negative Sentiment: Broader crypto headlines remain a headwind: Bitcoin ETFs saw large outflows over the prior 13 days, and BlackRock’s IBIT was cited as a major contributor to the pressure, which can weigh on sentiment toward BLK’s ETF growth story. Bitcoin ETFs Lose $4.4B as Outflows Hit 13-Day Record Run

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of recent analyst reports. Barclays lifted their target price on BlackRock from $1,290.00 to $1,310.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Morgan Stanley lifted their target price on 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. reduced their target price on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating for the company in a report on Monday, April 13th. TD Cowen reduced their target price on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a report on Thursday, April 9th. Finally, BMO Capital Markets lifted their target price on BlackRock from $1,200.00 to $1,250.00 and gave the company an “outperform” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,269.06.

BlackRock 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.