Peapack Gladstone Financial Corp Sells 625 Shares of BlackRock $BLK

Peapack Gladstone Financial Corp lessened its holdings in shares of BlackRock (NYSE:BLK) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 61,697 shares of the asset manager’s stock after selling 625 shares during the period. BlackRock accounts for about 0.8% of Peapack Gladstone Financial Corp’s portfolio, making the stock its 26th largest position. Peapack Gladstone Financial Corp’s holdings in BlackRock were worth $66,037,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BLK. Brighton Jones LLC boosted its holdings in BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after acquiring an additional 296 shares during the last quarter. Bison Wealth LLC boosted its stake in BlackRock by 1.6% in the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after acquiring an additional 17 shares during the last quarter. Schnieders Capital Management LLC. bought a new position in BlackRock in the second quarter valued at approximately $259,000. Nebula Research & Development LLC bought a new position in BlackRock in the second quarter valued at approximately $548,000. Finally, Osterweis Capital Management Inc. bought a new position in BlackRock in the second quarter valued at approximately $98,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In other news, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction dated 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the transaction, the chief executive officer owned 230,516 shares in the company, valued at $242,168,583.80. This trade represents a 12.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.92% of the company’s stock.

BlackRock Price Performance

Shares of BLK opened at $1,045.88 on Monday. 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 has a 1 year low of $917.39 and a 1 year high of $1,219.94. The stock has a market cap of $162.35 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 1.36 and a beta of 1.42. The stock’s 50-day moving average price is $1,029.75 and its two-hundred day moving average price is $1,053.49.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (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 firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the business earned $9.64 earnings per share. The company’s revenue was up 27.0% compared to the same quarter last year. On average, equities analysts predict that BlackRock will post 52.8 earnings per share for the current year.

BlackRock Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BLK shares. The Goldman Sachs Group raised their price objective on shares of BlackRock from $1,181.00 to $1,313.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. BMO Capital Markets raised their price objective on shares of BlackRock from $1,200.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Barclays raised their price objective on shares of BlackRock from $1,290.00 to $1,310.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. JPMorgan Chase & Co. reduced their target price on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Finally, Morgan Stanley raised their target price on BlackRock from $1,368.00 to $1,393.00 and gave the stock an “overweight” 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 presently has an average rating of “Moderate Buy” and an average target price of $1,269.06.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Several articles framed BlackRock as a strong dividend stock, which can support investor interest in BLK’s income profile and overall quality reputation. Why BlackRock (BLK) is a Great Dividend Stock Right Now
• Positive Sentiment: BlackRock’s recent earnings strength remains a backdrop for the stock, with the company having reported better-than-expected EPS and revenue in its latest quarter. This reinforces confidence in the firm’s fundamentals. BlackRock Scales Back Equities After ‘Generational’ Earnings
• Neutral Sentiment: BlackRock is trimming stock exposure in its model portfolios after a strong run in U.S. equities. That suggests a more cautious near-term stance, but it is more of an asset-allocation decision than a direct hit to BLK’s earnings. BlackRock Scales Back Equities After ‘Generational’ Earnings
• Neutral Sentiment: Texas is shifting its Bitcoin reserve from BlackRock’s IBIT ETF to direct custody, but the allocation is small and the move reflects a change in custody preference rather than a broad rejection of BlackRock’s crypto platform. Texas Bitcoin reserve plans shift from ETF to direct custody
• Negative Sentiment: U.S. spot Bitcoin ETFs saw large outflows, and BlackRock’s IBIT accounted for the biggest share of redemptions. That can weigh on sentiment around one of BLK’s most visible growth products. U.S. Bitcoin Spot ETFs Hit by $228M Outflow as IBIT Sees Heavy Exit
• Negative Sentiment: Additional reports said IBIT had near-record outflows as Bitcoin fell below $75,000, suggesting investors are pulling back from the product during the crypto selloff. BlackRock Bitcoin ETF sees near-record outflows as BTC dips below $75K
• Negative Sentiment: Another report described a large single-day withdrawal from a BlackRock ETF, reinforcing concerns that crypto ETF flows are weakening and may be creating short-term pressure on BLK sentiment. Mysterious trader dumps $1B from BlackRock ETF
• Negative Sentiment: BlackRock’s IBIT also saw heavy daily outflows in the latest ETF flow data, which may be contributing to the stock’s softer tone today. Texas Shifts Bitcoin Holdings from ETF to Direct Custody Control

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.