1,001 Shares in BlackRock $BLK Bought by Fieldview Capital Management LLC

Fieldview Capital Management LLC bought a new position in BlackRock (NYSE:BLK) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,001 shares of the asset manager’s stock, valued at approximately $1,071,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Focus Partners Wealth grew its position in BlackRock by 9.8% in the fourth quarter. Focus Partners Wealth now owns 170,679 shares of the asset manager’s stock worth $182,720,000 after acquiring an additional 15,188 shares in the last quarter. Graybill Wealth Management LTD. grew its position in BlackRock by 1.9% in the fourth quarter. Graybill Wealth Management LTD. now owns 6,543 shares of the asset manager’s stock worth $7,003,000 after acquiring an additional 121 shares in the last quarter. Icon Wealth Advisors LLC grew its position in BlackRock by 11.2% in the fourth quarter. Icon Wealth Advisors LLC now owns 2,736 shares of the asset manager’s stock worth $2,938,000 after acquiring an additional 275 shares in the last quarter. Integrity Financial Corp WA grew its position in BlackRock by 10.5% in the fourth quarter. Integrity Financial Corp WA now owns 548 shares of the asset manager’s stock worth $587,000 after acquiring an additional 52 shares in the last quarter. Finally, KCM Investment Advisors LLC grew its position in BlackRock by 4.7% in the fourth quarter. KCM Investment Advisors LLC now owns 2,367 shares of the asset manager’s stock worth $2,534,000 after acquiring an additional 107 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BlackRock

In related news, 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 value of $9,233,627.40. Following the completion of the transaction, the president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Laurence Fink sold 33,900 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the completion of the transaction, the chief executive officer directly owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.92% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BLK. Barclays upped their target price on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods boosted their price target on shares of BlackRock from $1,150.00 to $1,240.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 15th. Evercore lowered their price target on shares of BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating for the company in a research note on Monday, June 8th. The Goldman Sachs Group boosted 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. Finally, Jefferies Financial Group lowered their price target on shares of BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,264.61.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Negative Sentiment: BlackRock’s private-credit funds saw redemption requests far above the cap, and the firm is again limiting withdrawals, which could weigh on sentiment around its alternatives business. Reuters article
• Negative Sentiment: Bloomberg and other reports said BlackRock’s HPS/HLEND private-credit vehicles capped redemptions after investors sought to withdraw more than 5%, underscoring continued pressure in the funds. Bloomberg article
• Neutral Sentiment: BlackRock also reported buying additional Bitcoin and Ethereum holdings, and it is preparing an income-focused Bitcoin ETF, highlighting continued growth in its digital-asset franchise. Finbold article
• Neutral Sentiment: Reports that BlackRock may seek about $5 billion of SpaceX IPO shares point to strong client demand and product breadth, but this is not as immediate a driver as the redemption headlines. Reuters article

BlackRock Price Performance

BLK stock opened at $1,031.45 on Monday. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94. The company has a market cap of $160.12 billion, a P/E ratio of 25.89, a PEG ratio of 1.34 and a beta of 1.42. The firm has a 50-day moving average of $1,039.86 and a 200 day moving average of $1,051.60. 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 released its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.40 by $0.13. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the prior year, the firm earned $9.64 earnings per share. BlackRock’s revenue was up 27.0% on a year-over-year basis. On average, sell-side analysts forecast that BlackRock will post 52.8 EPS for the current year.

BlackRock Announces Dividend

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

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.