BlackRock $BLK Shares Acquired by Carnegie Investment Counsel

Carnegie Investment Counsel increased its holdings in shares of BlackRock (NYSE:BLK) by 5.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 43,230 shares of the asset manager’s stock after acquiring an additional 2,392 shares during the quarter. Carnegie Investment Counsel’s holdings in BlackRock were worth $39,827,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. Corient Private Wealth LLC boosted its holdings in shares of BlackRock by 5,190.3% in 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 buying an additional 5,386,640 shares in the last quarter. Norges Bank purchased a new stake in BlackRock in the fourth quarter valued at $2,742,680,000. Oak Harvest Investment Services boosted its stake in BlackRock by 12,176.1% in the fourth quarter. Oak Harvest Investment Services now owns 1,595,153 shares of the asset manager’s stock valued at $1,707,356,000 after acquiring an additional 1,582,159 shares in the last quarter. Auto Owners Insurance Co boosted its stake in BlackRock by 106,934.0% in the fourth quarter. Auto Owners Insurance Co now owns 1,284,408 shares of the asset manager’s stock valued at $128,441,000 after acquiring an additional 1,283,208 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of BlackRock by 200.5% during the fourth quarter. Wellington Management Group LLP now owns 1,451,122 shares of the asset manager’s stock worth $1,553,194,000 after purchasing an additional 968,245 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Key BlackRock News

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.

BlackRock Stock Performance

NYSE:BLK traded up $16.50 during mid-day trading on Friday, reaching $1,036.18. The stock had a trading volume of 595,032 shares, compared to its average volume of 794,052. 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 business has a 50 day simple moving average of $1,034.39 and a 200 day simple moving average of $1,044.04. 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 $160.85 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.32 and a beta of 1.43.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, beating the consensus estimate of $12.40 by $0.13. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The business had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period last year, the firm earned $9.64 EPS. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. On average, analysts expect that BlackRock will post 53.96 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th were issued a $5.73 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. BlackRock’s dividend payout ratio (DPR) is 57.53%.

Analyst Upgrades and Downgrades

BLK has been the subject of several research reports. Evercore reissued an “outperform” rating and issued a $1,145.00 target price on shares of BlackRock in a report on Friday. UBS Group upped their price target on shares of BlackRock from $1,235.00 to $1,270.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Weiss Ratings raised shares of BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. Barclays boosted their price target on BlackRock from $1,310.00 to $1,340.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, BMO Capital Markets increased their price objective on BlackRock from $1,200.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,273.33.

Insider Buying and Selling at BlackRock

In other news, CEO Laurence Fink sold 33,900 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 230,516 shares of the company’s stock, valued at $242,168,583.80. This represents a 12.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the stock in a transaction dated 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 completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. 1.92% of the stock is currently owned by insiders.

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.