BlackRock $BLK Shares Sold by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC decreased its position in BlackRock (NYSE:BLK) by 46.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 705 shares of the asset manager’s stock after selling 623 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in BlackRock were worth $678,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Mosaic Family Wealth Partners LLC acquired a new position in shares of BlackRock in the 1st quarter worth approximately $389,000. Stronghold Wealth Management L.L.C. lifted its stake in BlackRock by 2.9% during the first quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager’s stock valued at $345,000 after purchasing an additional 10 shares during the last quarter. Money Concepts Capital Corp boosted its holdings in BlackRock by 5.5% during the first quarter. Money Concepts Capital Corp now owns 1,192 shares of the asset manager’s stock worth $1,147,000 after buying an additional 62 shares in the last quarter. Resona Asset Management Co. Ltd. grew its position in BlackRock by 2.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 46,558 shares of the asset manager’s stock worth $44,530,000 after buying an additional 1,045 shares during the last quarter. Finally, CFS Investment Advisory Services LLC grew its position in BlackRock by 15.8% in the first quarter. CFS Investment Advisory Services LLC now owns 308 shares of the asset manager’s stock worth $324,000 after buying an additional 42 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 1.6%

NYSE:BLK traded up $16.50 during trading hours on Friday, hitting $1,036.18. 595,032 shares of the stock traded hands, compared to its average volume of 794,052. The firm has a 50 day moving average price of $1,034.39 and a 200 day moving average price of $1,044.04. The firm has a market cap of $160.85 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.30 and a beta of 1.43. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34.

BlackRock (NYSE:BLK) last issued 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. 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%.BlackRock’s revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the firm posted $9.64 earnings per share. Equities research analysts anticipate that BlackRock will post 53.9 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th were issued a $5.73 dividend. The ex-dividend date was Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.2%. BlackRock’s dividend payout ratio is currently 57.53%.

Insider Buying and Selling

In related news, President Robert Kapito sold 8,739 shares of the firm’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 transaction of $9,233,627.40. Following the completion of the sale, the president directly owned 210,186 shares in the company, valued at approximately $222,082,527.60. This trade represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the business’s 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 directly owned 230,516 shares in the company, valued at $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.92% of the stock is owned by corporate insiders.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on BlackRock and maintained an outperform rating, signaling confidence ahead of earnings.
• Positive Sentiment: Barclays lifted its price target on BlackRock to $1,340 and kept an overweight rating, reflecting expectations for continued business momentum.
• Positive Sentiment: Analysts expect Q2 results to benefit from ETF inflows, higher market levels, and growth in assets under management, which could support earnings and revenue.
• Neutral Sentiment: BlackRock’s newer crypto-related products, including its Bitcoin income ETF and BUIDL tokenized treasury fund, are attracting attention but are not yet a major earnings driver.
• Neutral Sentiment: Broad crypto ETF outflows were reported, though BlackRock’s IBIT was flat, limiting direct negative impact on the company.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on BlackRock from $1,240.00 to $1,275.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley boosted their target price on BlackRock from $1,393.00 to $1,430.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. BNP Paribas Exane upped their target price on BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. TD Cowen decreased their price target on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a research report on Thursday, April 9th. Finally, Evercore reissued an “outperform” rating and issued a $1,145.00 price target on shares of BlackRock in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,273.33.

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.