BlackRock $BLK Shares Purchased by First Financial Bankshares Inc

First Financial Bankshares Inc boosted its stake in BlackRock (NYSE:BLK) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,723 shares of the asset manager’s stock after buying an additional 584 shares during the period. BlackRock accounts for approximately 1.5% of First Financial Bankshares Inc’s investment portfolio, making the stock its 29th largest holding. First Financial Bankshares Inc’s holdings in BlackRock were worth $73,557,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BLK. Evolution Wealth Management Inc. bought a new position in shares of BlackRock in the fourth quarter worth $26,000. Birchbrook Inc. bought a new position in BlackRock during the fourth quarter valued at about $31,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of BlackRock during the fourth quarter valued at $32,000. Basepoint Wealth LLC purchased a new stake in shares of BlackRock during the fourth quarter valued at $32,000. Finally, Goodman Advisory Group LLC purchased a new stake in shares of BlackRock during the third quarter valued at $37,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

BlackRock stock opened at $1,017.36 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09. The company has a market capitalization of $157.93 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 1.32 and a beta of 1.42. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The business has a 50 day simple moving average of $1,038.39 and a 200 day simple moving average of $1,051.51.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping 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 the consensus estimate of $6.56 billion. During the same quarter last year, the company earned $9.64 EPS. 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 fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders 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 annualized dividend and a yield of 2.3%. BlackRock’s payout ratio is presently 57.53%.

Insider Buying and Selling at BlackRock

In other BlackRock news, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction 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 approximately $222,082,527.60. The trade was a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 directly owned 230,516 shares of the company’s stock, valued at $242,168,583.80. This trade represents a 12.82% 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.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is expanding its ETF lineup with new thematic products, including a space-focused fund in Europe/UK and a planned income-paying Bitcoin ETF, reinforcing its leadership in fast-growing areas of asset management. How Investors Are Reacting To BlackRock (BLK) Expanding Into Space ETFs And Digital Assets
• Positive Sentiment: Reports that BlackRock is seeking to buy at least $5 billion of SpaceX IPO shares highlight its willingness to back high-profile alternative assets and could support fee-generating opportunities if the deal moves forward. BlackRock seeks to buy at least $5 billion in SpaceX IPO shares, WSJ reports
• Positive Sentiment: BlackRock continues to dominate Bitcoin ETF flows with Fidelity, suggesting its crypto products are capturing the bulk of investor demand in the U.S. spot Bitcoin ETF market. BlackRock and Fidelity Dominate U.S. Bitcoin ETF Flows
• Neutral Sentiment: The Supreme Court’s ruling shielding investment funds from some shareholder lawsuits is broadly supportive for the asset-management industry, though the direct impact on BlackRock is limited. Supreme Court Shields Investment Funds From Shareholder Lawsuits
• Neutral Sentiment: Financial stocks were firmer in afternoon trading, creating a generally supportive backdrop for BlackRock, although the move appears driven by sector rotation rather than company-specific news. Sector Update: Financial Stocks Rise Late Afternoon
• Negative Sentiment: Some coverage noted BlackRock’s crypto portfolio declined by more than $12 billion early in June and that its Bitcoin holdings were sold while Ethereum was accumulated, which could raise questions about near-term digital-asset mark-to-market performance. BlackRock crypto portfolio falls by over $12 billion in early June

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Jefferies Financial Group reduced their price objective on 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. JPMorgan Chase & Co. cut their price target on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. The Goldman Sachs Group increased their price objective on BlackRock from $1,181.00 to $1,313.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Weiss Ratings raised BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Finally, BMO Capital Markets raised their target price on BlackRock from $1,200.00 to $1,250.00 and gave the company an “outperform” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,264.61.

BlackRock 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.