Provident Investment Management Inc. Has $62.75 Million Position in BlackRock $BLK

Provident Investment Management Inc. decreased its position in shares of BlackRock (NYSE:BLK) by 5.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 53,821 shares of the asset manager’s stock after selling 3,297 shares during the period. BlackRock comprises approximately 5.5% of Provident Investment Management Inc.’s portfolio, making the stock its 3rd largest holding. Provident Investment Management Inc.’s holdings in BlackRock were worth $62,749,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacifica Partners Inc. boosted its stake in shares of BlackRock by 450.0% during the third quarter. Pacifica Partners Inc. now owns 22 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 18 shares in the last quarter. TruNorth Capital Management LLC increased its stake in shares of BlackRock by 1,000.0% in the third quarter. TruNorth Capital Management LLC now owns 22 shares of the asset manager’s stock valued at $26,000 after buying an additional 20 shares during the period. Traub Capital Management LLC bought a new position in BlackRock in the 2nd quarter valued at approximately $28,000. Howard Hughes Medical Institute bought a new position in BlackRock in the 2nd quarter valued at approximately $33,000. Finally, Hopwood Financial Services Inc. boosted its position in BlackRock by 866.7% during the 3rd quarter. Hopwood Financial Services Inc. now owns 29 shares of the asset manager’s stock worth $34,000 after buying an additional 26 shares during the period. Institutional investors own 80.69% of the company’s stock.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock launched a new iShares Ethereum ETF (iShares Staked Ethereum Trust, ETHB) that offers staking rewards, expanding its digital?asset product suite and tapping strong crypto ETF demand. This helps explain strength in the stock as fee and AUM growth opportunities rise. BlackRock launches new ethereum ETF packed with staking rewards
• Positive Sentiment: Bitcoin and ether ETFs have seen inflows and price gains (bitcoin hit a six?week high), a tailwind for BlackRock’s crypto ETF business and overall ETF AUM growth. Bitcoin touches a six-week high as investors pour into ETFs
• Positive Sentiment: Market commentary notes BlackRock “outpaced the stock market” in recent sessions, reflecting sector leadership and positive sentiment following its earnings beat and robust revenue growth earlier this year. Why BlackRock (BLK) Outpaced the Stock Market Today
• Neutral Sentiment: Technical analysts say BLK has entered a “key buying zone” below $1,000 — relevant to traders and short?term flows but not a fundamental driver. BlackRock (BLK) Enters Key Buying Zone below $1000
• Neutral Sentiment: Regulatory/portfolio disclosures: BlackRock increased its stake in Rentokil Initial, a portfolio move that signals active equity positioning but has limited immediate impact on BLK’s shares. Rentokil Initial Discloses Increase in BlackRock Stake Above 12%
• Negative Sentiment: Pomerantz LLP is investigating claims on behalf of BlackRock investors — a legal probe that can create headline risk, potential litigation costs, and reputational pressure. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of BlackRock, Inc. – BLK
• Negative Sentiment: Industry stress in private credit (coverage of a possible $10B investor exit wave and broader private?credit scrutiny) poses a risk to asset managers with private?credit platforms or exposure; that dynamic is pressuring sentiment toward firms in the space, including BlackRock. Wall Street Lunch: Private Credit Funds Face $10B Investor Exit Wave
• Negative Sentiment: Product critique: a Seeking Alpha piece argues BlackRock’s CMDY commodities fund has better alternatives, which could slow flows into that specific product and draws attention to competitive pressures in ETF launches. CMDY: Commodities Fund From BlackRock, Better Alternatives Exist

Insiders Place Their Bets

In other news, COO Robert L. Goldstein sold 54,190 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $1,087.29, for a total transaction of $58,920,245.10. Following the completion of the sale, the chief operating officer owned 51,478 shares of the company’s stock, valued at $55,971,514.62. This trade represents a 51.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director J. Richard Kushel sold 20,000 shares of BlackRock stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $1,125.00, for a total transaction of $22,500,000.00. Following the completion of the sale, the director owned 61,894 shares of the company’s stock, valued at $69,630,750. This represents a 24.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 111,319 shares of company stock valued at $123,999,249 over the last 90 days. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Stock Performance

BLK stock opened at $971.73 on Wednesday. The stock has a 50-day moving average price of $1,069.41 and a 200-day moving average price of $1,089.81. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.37. The firm has a market cap of $151.14 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48.

BlackRock (NYSE:BLK) last announced its earnings results on Thursday, January 15th. The asset manager reported $13.16 EPS for the quarter, beating the consensus estimate of $12.55 by $0.61. BlackRock had a return on equity of 14.78% and a net margin of 22.93%.The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.80 billion. During the same quarter in the prior year, the company earned $11.93 EPS. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. As a group, equities research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be issued a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $5.21. BlackRock’s dividend payout ratio (DPR) is currently 64.71%.

Analysts Set New Price Targets

Several equities analysts have issued reports on BLK shares. Bank of America upped their price target on shares of BlackRock from $1,456.00 to $1,464.00 in a research report on Wednesday, December 10th. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $1,244.00 to $1,267.00 and gave the stock a “neutral” rating in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BlackRock from $1,296.00 to $1,380.00 in a research note on Thursday, January 15th. Morgan Stanley raised their target price on BlackRock from $1,514.00 to $1,550.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,313.00 target price on shares of BlackRock in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,308.89.

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.