Consolidated Capital Management LLC Increases Stock Holdings in BlackRock $BLK

Consolidated Capital Management LLC raised its position in BlackRock (NYSE:BLK) by 16.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,616 shares of the asset manager’s stock after acquiring an additional 780 shares during the quarter. BlackRock makes up approximately 1.8% of Consolidated Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Consolidated Capital Management LLC’s holdings in BlackRock were worth $6,011,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BLK. Shum Financial Group Inc. grew its holdings in shares of BlackRock by 0.4% in the fourth quarter. Shum Financial Group Inc. now owns 2,183 shares of the asset manager’s stock valued at $2,336,000 after purchasing an additional 9 shares in the last quarter. First Bancorp Inc ME grew its stake in shares of BlackRock by 2.9% in the fourth quarter. First Bancorp Inc ME now owns 321 shares of the asset manager’s stock worth $344,000 after acquiring an additional 9 shares in the last quarter. Rather & Kittrell Inc. increased its position in shares of BlackRock by 2.1% during the fourth quarter. Rather & Kittrell Inc. now owns 430 shares of the asset manager’s stock worth $461,000 after acquiring an additional 9 shares during the period. Oakworth Capital Inc. increased its position in shares of BlackRock by 1.2% during the fourth quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager’s stock worth $808,000 after acquiring an additional 9 shares during the period. Finally, Tortoise Investment Management LLC increased its position in shares of BlackRock by 23.8% during the third quarter. Tortoise Investment Management LLC now owns 52 shares of the asset manager’s stock worth $61,000 after acquiring an additional 10 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,045.88 on Friday. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average price of $1,029.75 and a 200 day moving average price of $1,053.69. The company has a market cap of $162.36 billion, a P/E ratio of 26.25, a PEG ratio of 1.36 and a beta of 1.44. 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 EPS for the quarter, topping analysts’ consensus estimates of $12.40 by $0.13. The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.64 earnings per share. Sell-side analysts predict that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Announces Dividend

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

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Several articles framed BlackRock as a strong dividend stock, which can support investor interest in BLK’s income profile and overall quality reputation. Why BlackRock (BLK) is a Great Dividend Stock Right Now
• Positive Sentiment: BlackRock’s recent earnings strength remains a backdrop for the stock, with the company having reported better-than-expected EPS and revenue in its latest quarter. This reinforces confidence in the firm’s fundamentals. BlackRock Scales Back Equities After ‘Generational’ Earnings
• Neutral Sentiment: BlackRock is trimming stock exposure in its model portfolios after a strong run in U.S. equities. That suggests a more cautious near-term stance, but it is more of an asset-allocation decision than a direct hit to BLK’s earnings. BlackRock Scales Back Equities After ‘Generational’ Earnings
• Neutral Sentiment: Texas is shifting its Bitcoin reserve from BlackRock’s IBIT ETF to direct custody, but the allocation is small and the move reflects a change in custody preference rather than a broad rejection of BlackRock’s crypto platform. Texas Bitcoin reserve plans shift from ETF to direct custody
• Negative Sentiment: U.S. spot Bitcoin ETFs saw large outflows, and BlackRock’s IBIT accounted for the biggest share of redemptions. That can weigh on sentiment around one of BLK’s most visible growth products. U.S. Bitcoin Spot ETFs Hit by $228M Outflow as IBIT Sees Heavy Exit
• Negative Sentiment: Additional reports said IBIT had near-record outflows as Bitcoin fell below $75,000, suggesting investors are pulling back from the product during the crypto selloff. BlackRock Bitcoin ETF sees near-record outflows as BTC dips below $75K
• Negative Sentiment: Another report described a large single-day withdrawal from a BlackRock ETF, reinforcing concerns that crypto ETF flows are weakening and may be creating short-term pressure on BLK sentiment. Mysterious trader dumps $1B from BlackRock ETF
• Negative Sentiment: BlackRock’s IBIT also saw heavy daily outflows in the latest ETF flow data, which may be contributing to the stock’s softer tone today. Texas Shifts Bitcoin Holdings from ETF to Direct Custody Control

Analysts Set New Price Targets

BLK has been the topic of a number of recent research reports. Weiss Ratings raised BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. Evercore reaffirmed an “outperform” rating and set a $1,220.00 price objective on shares of BlackRock in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods upped their price objective on BlackRock from $1,150.00 to $1,240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. UBS Group upped their price objective on BlackRock from $1,235.00 to $1,270.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Finally, The Goldman Sachs Group upped their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $1,269.06.

Insider Buying and Selling

In other news, CEO Laurence Fink sold 33,900 shares of the company’s 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 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. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Robert Kapito sold 8,739 shares of the business’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 transaction of $9,233,627.40. Following the sale, the president owned 210,186 shares in the company, valued at $222,082,527.60. This represents a 3.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is currently owned by company insiders.

BlackRock Company 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.