BlackRock $BLK Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lessened its position in shares of BlackRock (NYSE:BLK) by 3.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 45,513 shares of the asset manager’s stock after selling 1,711 shares during the period. Resona Asset Management Co. Ltd.’s holdings in BlackRock were worth $48,865,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Birchbrook Inc. acquired a new stake in BlackRock during the fourth quarter valued at $31,000. LFA Lugano Financial Advisors SA acquired a new stake in BlackRock during the fourth quarter valued at $32,000. Hopwood Financial Services Inc. grew its position in BlackRock by 866.7% during the third quarter. Hopwood Financial Services Inc. now owns 29 shares of the asset manager’s stock valued at $34,000 after buying an additional 26 shares during the period. Collier Financial acquired a new stake in BlackRock during the third quarter valued at $36,000. Finally, Goodman Advisory Group LLC acquired a new stake in BlackRock during the third quarter valued at $37,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock reportedly struck a €15 billion partnership with Citi to expand private European lending, which could deepen its presence in private credit and generate more fee revenue. Citi strikes €15bn partnership with BlackRock for private European lending
• Positive Sentiment: A wealth manager bought $5.8 million of BlackRock’s Active Country Rotation ETF, a small but favorable signal for continued demand for BlackRock-managed products. This Wealth Manager Just Bet $5.8 Million on BlackRock’s Active Country Rotation ETF
• Positive Sentiment: BlackRock is also being linked to a potential multi-billion-dollar investment in SpaceX’s IPO, which highlights its ability to participate in marquee capital-markets opportunities. BlackRock is said to weigh investing billions in SpaceX IPO
• Neutral Sentiment: BlackRock disclosed it crossed above a 3% stake in Fagron, reflecting active portfolio positioning but not a major stock-moving event by itself. Disclosure of transparency notifications from BlackRock, Inc.
• Neutral Sentiment: Commentary around BlackRock ETFs and long-term valuation suggests ongoing investor debate about the stock’s upside, but nothing conclusive enough to move shares on its own. Vanguard’s VOO vs. BlackRock’s DGRO: One ETF Offers Better Upside, Says Investor
• Negative Sentiment: BlackRock’s private credit fund is facing DOJ scrutiny over valuation practices, adding regulatory and reputational risk to an important growth area. BlackRock’s Troubled Private Credit Fund Draws DOJ Scrutiny
• Negative Sentiment: Separate reports said the Manhattan U.S. Attorney’s office is seeking information on BlackRock TCP Capital Corp., reinforcing concern that private-credit oversight could become a larger issue. BlackRock private credit fund’s valuations are probed by DOJ
• Negative Sentiment: BlackRock’s Bitcoin ETF saw accelerated selling after weeks of inflows, which may weigh on sentiment around its crypto-linked assets under management. BlackRock accelerates Bitcoin selloff amid bearish sentiment
• Negative Sentiment: BlackRock reportedly capped withdrawals from one of its private credit funds, a sign of stress in the asset class that may raise investor caution. The Asset Manager Whose Private Credit Fund Just Capped Withdrawals. Should BlackRock Investors Worry?
• Negative Sentiment: Harvard reportedly sold its entire Ethereum stake after previously buying BlackRock’s Ethereum ETF, a data point that could suggest softer enthusiasm for the product category. Harvard sold off its entire $87 million Ethereum stake just one quarter after buying it

BlackRock Stock Up 0.3%

Shares of NYSE BLK opened at $1,085.60 on Tuesday. The company’s 50-day simple moving average is $1,010.27 and its 200-day simple moving average is $1,054.76. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. The firm has a market cap of $168.52 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.40 by $0.13. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same quarter last year, the business earned $9.64 earnings per share. Equities analysts predict that BlackRock will post 52.77 EPS for the current fiscal year.

Analyst Ratings Changes

BLK has been the topic of several analyst reports. Evercore restated an “outperform” rating and set a $1,220.00 price target on shares of BlackRock in a research report on Wednesday, April 15th. TD Cowen dropped their target price on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a research report on Thursday, April 9th. The Goldman Sachs Group lifted their target price on shares of BlackRock from $1,181.00 to $1,313.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. JPMorgan Chase & Co. dropped their target price 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. Finally, Morgan Stanley lifted their target price on shares of BlackRock from $1,368.00 to $1,393.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,269.06.

Insider Buying and Selling at BlackRock

In other news, President Robert Kapito sold 8,739 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director J. Richard Kushel sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $1,083.05, for a total transaction of $2,166,100.00. Following the completion of the transaction, the director directly owned 61,980 shares in the company, valued at approximately $67,127,439. This represents a 3.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 45,249 shares of company stock valued at $47,671,714. Corporate insiders own 1.92% of the company’s stock.

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.