Nuveen LLC Has $736.10 Million Holdings in BlackRock $BLK

Nuveen LLC grew its stake in BlackRock (NYSE:BLK) by 19.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 687,722 shares of the asset manager’s stock after buying an additional 112,200 shares during the period. Nuveen LLC’s holdings in BlackRock were worth $736,096,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Evolution Wealth Management Inc. acquired a new stake in shares of BlackRock in the fourth quarter worth about $26,000. Birchbrook Inc. acquired a new stake in shares of BlackRock in the fourth quarter worth about $31,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of BlackRock in the fourth quarter worth about $32,000. Basepoint Wealth LLC acquired a new stake in shares of BlackRock in the fourth quarter worth about $32,000. Finally, Goodman Advisory Group LLC acquired a new stake in shares of BlackRock in the third quarter worth about $37,000. Institutional investors and hedge funds own 80.69% 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

BlackRock Price Performance

NYSE BLK opened at $1,017.36 on Friday. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. 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 has a market capitalization of $157.93 billion, a PE ratio of 25.54, a P/E/G ratio of 1.32 and a beta of 1.42. The stock 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 quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, topping the consensus estimate of $12.40 by $0.13. The business 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 firm’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.64 EPS. Research analysts anticipate that BlackRock will post 52.8 EPS for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be issued a $5.73 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $22.92 annualized dividend and a yield of 2.3%. BlackRock’s dividend payout ratio is 57.53%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BLK shares. The Goldman Sachs Group boosted their price target on BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Weiss Ratings raised BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. UBS Group boosted their price objective 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. Evercore cut their price objective on BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating for the company in a research report on Monday. Finally, BMO Capital Markets boosted their price objective on BlackRock from $1,200.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,264.61.

Insider Activity at BlackRock

In other BlackRock news, CEO Laurence Fink sold 33,900 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 230,516 shares of the company’s stock, valued at $242,168,583.80. This represents a 12.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Robert Kapito sold 8,739 shares of the company’s 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 value 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. This trade represents a 3.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.92% of the company’s stock.

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.