Osprey Private Wealth LLC Boosts Holdings in BlackRock $BLK

Osprey Private Wealth LLC increased its holdings in BlackRock (NYSE:BLK) by 8.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,882 shares of the asset manager’s stock after purchasing an additional 750 shares during the period. BlackRock makes up about 2.8% of Osprey Private Wealth LLC’s holdings, making the stock its 13th biggest holding. Osprey Private Wealth LLC’s holdings in BlackRock were worth $9,504,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of BlackRock by 0.8% during the fourth quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager’s stock valued at $985,331,000 after acquiring an additional 7,457 shares during the last quarter. Sarasin & Partners LLP increased its holdings in BlackRock by 10.6% during the 4th quarter. Sarasin & Partners LLP now owns 251,856 shares of the asset manager’s stock valued at $269,572,000 after purchasing an additional 24,196 shares during the period. Hudson Bay Capital Management LP bought a new position in BlackRock during the 3rd quarter valued at approximately $3,791,000. TCV Trust & Wealth Management Inc. purchased a new stake in BlackRock in the 4th quarter worth approximately $20,279,000. Finally, Texas Yale Capital Corp. lifted its holdings in BlackRock by 32.2% in the 4th quarter. Texas Yale Capital Corp. now owns 5,764 shares of the asset manager’s stock worth $6,169,000 after buying an additional 1,405 shares during the period. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. UBS Group upped their target price on BlackRock from $1,235.00 to $1,270.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. The Goldman Sachs Group increased their price target on shares of BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. BNP Paribas Exane lifted their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. reduced their target price on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Finally, Morgan Stanley lifted their price target on BlackRock from $1,393.00 to $1,430.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $1,273.33.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on BlackRock and maintained an outperform rating, signaling confidence ahead of earnings.
• Positive Sentiment: Barclays lifted its price target on BlackRock to $1,340 and kept an overweight rating, reflecting expectations for continued business momentum.
• Positive Sentiment: Analysts expect Q2 results to benefit from ETF inflows, higher market levels, and growth in assets under management, which could support earnings and revenue.
• Neutral Sentiment: BlackRock’s newer crypto-related products, including its Bitcoin income ETF and BUIDL tokenized treasury fund, are attracting attention but are not yet a major earnings driver.
• Neutral Sentiment: Broad crypto ETF outflows were reported, though BlackRock’s IBIT was flat, limiting direct negative impact on the company.

Insider Buying and Selling at BlackRock

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 shares were sold at an average price of $1,056.60, for a total value 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 represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Laurence Fink sold 33,900 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were 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 position. The SEC filing for this sale provides additional information. 1.92% of the stock is owned by company insiders.

BlackRock Stock Up 1.6%

BLK traded up $16.50 during midday trading on Friday, reaching $1,036.18. The company’s stock had a trading volume of 595,032 shares, compared to its average volume of 794,052. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94. The stock’s 50-day moving average is $1,034.39 and its 200-day moving average is $1,044.04. The firm has a market capitalization of $160.85 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.30 and a beta of 1.43. 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 (NYSE:BLK) last released its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.40 by $0.13. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The business’s revenue was up 27.0% on a year-over-year basis. During the same period last year, the business earned $9.64 earnings per share. As a group, research analysts expect that BlackRock will post 53.9 EPS for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th were paid 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 of this dividend was Friday, June 5th. BlackRock’s dividend payout ratio is currently 57.53%.

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.