Bogart Wealth LLC Has $8.38 Million Position in BlackRock $BLK

Bogart Wealth LLC raised its stake in BlackRock (NYSE:BLK) by 23.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 8,718 shares of the asset manager’s stock after acquiring an additional 1,635 shares during the period. Bogart Wealth LLC’s holdings in BlackRock were worth $8,384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Legal & General Group Plc grew its stake in BlackRock by 0.8% in the fourth quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager’s stock valued at $985,331,000 after acquiring an additional 7,457 shares during the period. Sarasin & Partners LLP raised its position in shares of BlackRock by 10.6% during the fourth quarter. Sarasin & Partners LLP now owns 251,856 shares of the asset manager’s stock worth $269,572,000 after purchasing an additional 24,196 shares during the period. Sienna Gestion raised its position in shares of BlackRock by 51.5% during the third quarter. Sienna Gestion now owns 22,859 shares of the asset manager’s stock worth $24,299,000 after purchasing an additional 7,773 shares during the period. Hudson Bay Capital Management LP bought a new position in shares of BlackRock in the 3rd quarter worth $3,791,000. Finally, TCV Trust & Wealth Management Inc. acquired a new stake in BlackRock in the 4th quarter valued at $20,279,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on BLK shares. Barclays boosted their price target on shares of BlackRock from $1,290.00 to $1,310.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Jefferies Financial Group reduced their price objective on shares of BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Evercore decreased their target price on shares of BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating for the company in a research report on Monday, June 8th. The Goldman Sachs Group upped their target price on shares of BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Finally, UBS Group lifted their price target on BlackRock from $1,235.00 to $1,270.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,269.44.

BlackRock Stock Performance

NYSE BLK opened at $994.50 on Monday. The company has a fifty day moving average price of $1,038.02 and a 200-day moving average price of $1,045.71. The firm has a market cap of $154.38 billion, a price-to-earnings ratio of 24.96, a PEG 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 1 year low of $917.39 and a 1 year high of $1,219.94.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $6.56 billion. During the same period last year, the firm earned $9.64 earnings per share. The firm’s revenue was up 27.0% on a year-over-year basis. As a group, equities research analysts predict that BlackRock will post 53.34 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th were paid a $5.73 dividend. The ex-dividend date was Friday, June 5th. This represents a $22.92 annualized dividend and a yield of 2.3%. BlackRock’s dividend payout ratio (DPR) is 57.53%.

BlackRock News Summary

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

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 owned 230,516 shares of the company’s stock, valued at $242,168,583.80. This trade represents a 12.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $9,233,627.40. Following the completion of the transaction, the president owned 210,186 shares in the company, valued at $222,082,527.60. The trade was 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 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.