BlackRock $BLK is Evexia Wealth LLC’s 7th Largest Position

Evexia Wealth LLC raised its holdings in shares of BlackRock (NYSE:BLK) by 10.5% during the first quarter, HoldingsChannel reports. The fund owned 13,708 shares of the asset manager’s stock after purchasing an additional 1,301 shares during the quarter. BlackRock comprises about 3.9% of Evexia Wealth LLC’s investment portfolio, making the stock its 7th biggest holding. Evexia Wealth LLC’s holdings in BlackRock were worth $14,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in BLK. Shum Financial Group Inc. grew its position 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 lifted its holdings in BlackRock by 2.9% during the 4th quarter. First Bancorp Inc ME now owns 321 shares of the asset manager’s stock worth $344,000 after purchasing an additional 9 shares in the last quarter. Rather & Kittrell Inc. lifted its holdings in BlackRock by 2.1% during the 4th quarter. Rather & Kittrell Inc. now owns 430 shares of the asset manager’s stock worth $461,000 after purchasing an additional 9 shares in the last quarter. Oakworth Capital Inc. boosted its stake in BlackRock by 1.2% in the 4th quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager’s stock worth $808,000 after purchasing an additional 9 shares during the period. Finally, Tortoise Investment Management LLC boosted its stake in BlackRock by 23.8% in the 3rd quarter. Tortoise Investment Management LLC now owns 52 shares of the asset manager’s stock worth $61,000 after purchasing an additional 10 shares during the period. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays upped their price target on BlackRock from $1,290.00 to $1,310.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. JPMorgan Chase & Co. cut their price objective on shares of BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. Weiss Ratings raised shares of BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. UBS Group upped their target price on shares of BlackRock from $1,235.00 to $1,270.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Finally, TD Cowen lowered their target price on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $1,264.61.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s spot Bitcoin ETF continues to act as a gateway for new investors into traditional finance, with Jay Jacobs saying roughly three-quarters of IBIT holders had never owned an ETF before. That supports the case for continued asset-gathering strength in BlackRock’s ETF franchise. Article Title
• Positive Sentiment: BlackRock filed for an iShares Bitcoin Premium Income ETF, a covered-call product aimed at income seekers. The move suggests BlackRock is broadening its crypto ETF lineup and could attract more fee-generating inflows. Article Title
• Positive Sentiment: BlackRock Canada announced June cash distributions for multiple iShares ETFs, reinforcing the company’s large and steady ETF distribution machine, which can be viewed as a sign of recurring product demand. Article Title
• Neutral Sentiment: BlackRock was also highlighted as one of the largest Bitcoin holders, with Arkham data placing it ahead of Binance in BTC count. This reflects the scale of its crypto exposure, but it is more descriptive than fundamentally material on its own. Article Title
• Neutral Sentiment: Coverage comparing BlackRock with Blackstone and news about BlackRock entering the active high-yield ETF arena are broadly supportive of its product expansion, but neither article points to an immediate catalyst for the stock. Article Title
• Negative Sentiment: One headline noted BlackRock “dumps 1,000 Bitcoin” as BTC struggled to hold the $60,000 level. If sustained, weaker crypto prices could dampen sentiment around BlackRock’s Bitcoin-linked products, though the impact on BLK itself is likely limited. Article Title

Insider Activity at BlackRock

In other BlackRock news, CEO Laurence Fink sold 33,900 shares of BlackRock 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 transaction, the chief executive officer directly owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. This trade represents a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the business’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 transaction of $9,233,627.40. Following the completion of the sale, the president owned 210,186 shares of the company’s stock, valued at approximately $222,082,527.60. The trade was a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.92% of the stock is owned by corporate insiders.

BlackRock Trading Up 0.1%

NYSE BLK opened at $1,051.51 on Monday. The stock’s 50-day simple moving average is $1,047.92 and its two-hundred day simple moving average is $1,051.99. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $163.23 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 1.37 and a beta of 1.42.

BlackRock (NYSE:BLK) last posted its quarterly earnings data 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. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period in the prior year, the business earned $9.64 EPS. Research analysts forecast that BlackRock will post 52.8 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

About BlackRock

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.