Moore Capital Management LP Invests $23.91 Million in BlackRock $BLK

Moore Capital Management LP acquired a new position in shares of BlackRock (NYSE:BLK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 22,336 shares of the asset manager’s stock, valued at approximately $23,907,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BLK. Shum Financial Group Inc. boosted its position in shares of BlackRock by 0.4% during the 4th quarter. Shum Financial Group Inc. now owns 2,183 shares of the asset manager’s stock valued at $2,336,000 after acquiring an additional 9 shares in the last quarter. First Bancorp Inc ME boosted its position in shares of BlackRock by 2.9% during the 4th quarter. First Bancorp Inc ME now owns 321 shares of the asset manager’s stock valued at $344,000 after acquiring an additional 9 shares in the last quarter. Rather & Kittrell Inc. boosted its position in shares of BlackRock by 2.1% during the 4th quarter. Rather & Kittrell Inc. now owns 430 shares of the asset manager’s stock valued at $461,000 after acquiring an additional 9 shares in the last quarter. Oakworth Capital Inc. boosted its position in shares of BlackRock by 1.2% during the 4th quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager’s stock valued at $808,000 after acquiring an additional 9 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its position in shares of BlackRock by 23.8% during the 3rd quarter. Tortoise Investment Management LLC now owns 52 shares of the asset manager’s stock valued at $61,000 after acquiring an additional 10 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other news, CEO Laurence Fink sold 33,900 shares of the company’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 approximately $242,168,583.80. This represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the transaction, the president owned 210,186 shares in the company, valued at $222,082,527.60. The trade was a 3.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is currently owned by corporate insiders.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock Canada announced June cash distributions for its iShares ETFs, a routine update that reinforces the scale and ongoing yield appeal of BlackRock’s ETF franchise. BlackRock Canada Announces June Cash Distributions for the iShares ETFs
• Positive Sentiment: BlackRock launched new bitcoin income products, including the iShares Bitcoin Premium Income ETF, expanding its digital-assets suite and potentially attracting more fee-generating assets. BlackRock (BLK) Launches Bitcoin Income ETF To Expand Its Digital Assets Suite
• Positive Sentiment: BlackRock’s crypto-related strategy is also being highlighted in coverage about strong spot ETF inflows and a long-term bullish view on bitcoin from its investment team, which may support investor confidence in the firm’s growth areas. Bitcoin and Ethereum Derivatives See 1.7B Binance Open Interest Reset
• Neutral Sentiment: BlackRock is being mentioned in market commentary around the Federal Reserve keeping rates steady, which matters for asset prices and flows but does not directly change BlackRock’s fundamentals. Federal Reserve Holds Rates Steady as Officials Signal Potential Hikes Under New Chair Kevin Warsh
• Negative Sentiment: BlackRock is cutting nearly 200 jobs as it pushes for greater efficiency, a sign of cost discipline but also a reminder that management is still trimming expenses amid broader restructuring efforts. BlackRock Cuts Jobs Again Amid Growth and Efficiency Push

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. TD Cowen decreased 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. JPMorgan Chase & Co. decreased 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. 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. Evercore decreased their target price on shares of BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating on the stock in a research report on Monday, June 8th. Finally, UBS Group lifted their target price on shares of BlackRock from $1,235.00 to $1,270.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,264.61.

BlackRock Price Performance

NYSE:BLK opened at $1,058.34 on Thursday. The firm has a market cap of $164.29 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 1.37 and a beta of 1.42. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $1,045.02 and its two-hundred day moving average price is $1,051.88.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, beating analysts’ consensus estimates of $12.40 by $0.13. The firm 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 period in the previous year, the business earned $9.64 earnings per share. On average, equities analysts anticipate that BlackRock will post 52.8 EPS for the current fiscal year.

BlackRock Announces Dividend

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

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.