HB Wealth Management LLC Buys 523 Shares of BlackRock $BLK

HB Wealth Management LLC raised its stake in shares of BlackRock (NYSE:BLK) by 6.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,726 shares of the asset manager’s stock after purchasing an additional 523 shares during the period. HB Wealth Management LLC’s holdings in BlackRock were worth $8,393,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of BlackRock by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock worth $15,051,846,000 after buying an additional 221,123 shares during the period. State Street Corp raised its holdings in BlackRock by 0.5% in the 4th quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock worth $6,705,193,000 after acquiring an additional 33,752 shares during the period. Corient Private Wealth LLC lifted its position in BlackRock by 5,190.3% during the 4th quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock worth $5,876,618,000 after acquiring an additional 5,386,640 shares during the last quarter. Bank of America Corp DE lifted its position in BlackRock by 3.0% during the 4th quarter. Bank of America Corp DE now owns 5,197,904 shares of the asset manager’s stock worth $5,563,524,000 after acquiring an additional 149,902 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in BlackRock by 0.3% during the fourth quarter. Capital Research Global Investors now owns 3,838,937 shares of the asset manager’s stock valued at $4,108,968,000 after acquiring an additional 12,019 shares during the period. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Evercore dropped their price objective on BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating on the stock in a research note on Monday, June 8th. BMO Capital Markets increased their target price on BlackRock from $1,200.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. TD Cowen lowered their target price on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a report on Thursday, April 9th. BNP Paribas Exane lifted their price target on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Finally, Keefe, Bruyette & Woods upped their price target on BlackRock from $1,150.00 to $1,240.00 and gave the stock an “outperform” rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,269.44.

BlackRock Stock Performance

NYSE:BLK opened at $994.50 on Friday. The firm’s 50-day moving average is $1,038.02 and its 200-day moving average is $1,045.97. BlackRock has a 52-week low of $917.39 and a 52-week 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 company has a market cap of $154.38 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 1.28 and a beta of 1.43.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping analysts’ consensus estimates of $12.40 by $0.13. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The company 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. The company’s quarterly revenue was up 27.0% on a year-over-year basis. Equities research analysts anticipate that BlackRock will post 53.34 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 5th were given a $5.73 dividend. This represents a $22.92 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, June 5th. BlackRock’s dividend payout ratio (DPR) is 57.53%.

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 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. This trade represents a 3.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was 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 of the company’s stock, 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 company insiders.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s ETFs were included in the Treasury’s approved lineup for Trump Accounts, potentially expanding assets and visibility for the firm’s flagship products. Reference
• Positive Sentiment: Articles highlighted continued analyst optimism around BlackRock’s earnings setup, with expectations that the company could beat estimates again when it reports next quarter. Article: Will BlackRock (BLK) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Tokenized versions of BlackRock’s IVV ETF were launched by Ondo Finance under SEC guidance, reinforcing BlackRock’s relevance in the growing onchain asset market. Article: BlackRock (BLK) Stock Fair Value Edges Higher As Analysts Debate Earnings And Flows
• Neutral Sentiment: BlackRock also disclosed a small reduction in its voting stake in Umicore, but the filing appears routine and unlikely to materially affect BLK shares. Article: Umicore – Transparency notification by BlackRock, Inc.
• Neutral Sentiment: Crypto headlines were mixed, with Bitcoin ETF outflows and broader crypto weakness offset by growing demand for BlackRock’s tokenized BUIDL product. Article: Yield-bearing stablecoin slowdown ends three-year run for crypto-native products

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.