HB Wealth Management LLC Has $8.39 Million Stake in BlackRock $BLK

HB Wealth Management LLC boosted its position in shares of BlackRock (NYSE:BLK) by 6.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,726 shares of the asset manager’s stock after purchasing an additional 523 shares during the period. HB Wealth Management LLC’s holdings in BlackRock were worth $8,393,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BLK. Corient Private Wealth LLC grew its holdings in shares of BlackRock by 5,190.3% during the fourth 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 4th quarter worth about $2,742,680,000. Oak Harvest Investment Services lifted its stake in BlackRock by 12,176.1% in the 4th quarter. Oak Harvest Investment Services now owns 1,595,153 shares of the asset manager’s stock worth $1,707,356,000 after acquiring an additional 1,582,159 shares in the last quarter. Auto Owners Insurance Co boosted its position in BlackRock by 106,934.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,284,408 shares of the asset manager’s stock worth $128,441,000 after acquiring an additional 1,283,208 shares during the period. Finally, Wellington Management Group LLP boosted its position in BlackRock by 200.5% during the 4th quarter. Wellington Management Group LLP now owns 1,451,122 shares of the asset manager’s stock worth $1,553,194,000 after acquiring an additional 968,245 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Robert Kapito sold 8,739 shares of the company’s stock in a transaction 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 $222,082,527.60. This represents a 3.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.92% of the company’s stock.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s ETFs were included in the Treasury’s approved lineup for Trump Accounts, potentially expanding assets and visibility for the firm’s flagship products. Reference
• Positive Sentiment: Articles highlighted continued analyst optimism around BlackRock’s earnings setup, with expectations that the company could beat estimates again when it reports next quarter. Article: Will BlackRock (BLK) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Tokenized versions of BlackRock’s IVV ETF were launched by Ondo Finance under SEC guidance, reinforcing BlackRock’s relevance in the growing onchain asset market. Article: BlackRock (BLK) Stock Fair Value Edges Higher As Analysts Debate Earnings And Flows
• Neutral Sentiment: BlackRock also disclosed a small reduction in its voting stake in Umicore, but the filing appears routine and unlikely to materially affect BLK shares. Article: Umicore – Transparency notification by BlackRock, Inc.
• Neutral Sentiment: Crypto headlines were mixed, with Bitcoin ETF outflows and broader crypto weakness offset by growing demand for BlackRock’s tokenized BUIDL product. Article: Yield-bearing stablecoin slowdown ends three-year run for crypto-native products

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BLK. Barclays upped their target price on BlackRock from $1,290.00 to $1,310.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Evercore decreased 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 report on Monday, June 8th. BMO Capital Markets boosted their price objective on shares of BlackRock from $1,200.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Morgan Stanley upped their price objective on shares of BlackRock from $1,393.00 to $1,430.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, UBS Group increased their target price on shares of BlackRock from $1,235.00 to $1,270.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. 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 stock. According to data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,269.44.

BlackRock Stock Down 0.1%

BLK opened at $994.50 on Friday. The company has a market capitalization of $154.38 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.28 and a beta of 1.43. 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 has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The business has a 50-day moving average of $1,038.02 and a 200-day moving average of $1,045.97.

BlackRock (NYSE:BLK) last announced 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 quarter in the previous year, the business posted $9.64 EPS. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. Equities research analysts forecast that BlackRock will post 53.34 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th were given a $5.73 dividend. This represents a $22.92 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, June 5th. BlackRock’s payout ratio is currently 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.