CFO Capital Management LLC Purchases New Shares in BlackRock $BLK

CFO Capital Management LLC purchased a new stake in shares of BlackRock (NYSE:BLK) during the fourth quarter, Holdings Channel.com reports. The firm purchased 1,369 shares of the asset manager’s stock, valued at approximately $1,466,000. BlackRock comprises 1.1% of CFO Capital Management LLC’s portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. purchased a new position in shares of BlackRock during the fourth quarter valued at $26,000. Birchbrook Inc. purchased a new position in BlackRock during the 4th quarter valued at about $31,000. LFA Lugano Financial Advisors SA acquired a new position in shares of BlackRock in the 4th quarter valued at about $32,000. Basepoint Wealth LLC purchased a new stake in shares of BlackRock in the fourth quarter worth approximately $32,000. Finally, Swiss RE Ltd. acquired a new stake in shares of BlackRock during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In other news, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the transaction, the chief executive officer owned 230,516 shares in the company, valued at approximately $242,168,583.80. This trade represents a 12.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total transaction 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 approximately $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 currently owned by insiders.

Analyst Upgrades and Downgrades

BLK has been the topic of several research reports. The Goldman Sachs Group upped their price objective on shares of BlackRock from $1,181.00 to $1,313.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. UBS Group upped their target price on BlackRock from $1,235.00 to $1,270.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Jefferies Financial Group reduced their price target on BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Morgan Stanley boosted their price target on BlackRock from $1,368.00 to $1,393.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. cut their price objective on shares of BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $1,264.61.

BlackRock Price Performance

Shares of BLK stock opened at $1,051.51 on Friday. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94. The stock has a market capitalization of $163.23 billion, a PE ratio of 26.39, a PEG ratio of 1.37 and a beta of 1.42. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. The stock’s fifty day moving average is $1,047.92 and its 200-day moving average is $1,051.90.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share 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 firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the firm posted $9.64 earnings per share. The company’s quarterly revenue was up 27.0% on a year-over-year basis. Equities research analysts expect that BlackRock will post 52.8 EPS for the current fiscal year.

BlackRock Announces Dividend

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

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

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.