Havemeyer Place LP Invests $2.50 Million in BlackRock $BLK

Havemeyer Place LP acquired a new stake in BlackRock (NYSE:BLK) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,331 shares of the asset manager’s stock, valued at approximately $2,495,000.

Several other hedge funds have also recently bought and sold shares of the company. 111 Capital bought a new stake in BlackRock in the 4th quarter valued at about $857,000. Vestcor Inc lifted its position in BlackRock by 2.9% in the 4th quarter. Vestcor Inc now owns 2,974 shares of the asset manager’s stock valued at $3,183,000 after purchasing an additional 83 shares during the last quarter. MCF Advisors LLC lifted its position in BlackRock by 16.3% in the 4th quarter. MCF Advisors LLC now owns 662 shares of the asset manager’s stock valued at $708,000 after purchasing an additional 93 shares during the last quarter. First Command Advisory Services Inc. lifted its position in BlackRock by 22.2% in the 4th quarter. First Command Advisory Services Inc. now owns 77 shares of the asset manager’s stock valued at $82,000 after purchasing an additional 14 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in BlackRock by 5.7% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,593 shares of the asset manager’s stock valued at $8,127,000 after purchasing an additional 408 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Down 2.5%

BlackRock stock opened at $996.54 on Friday. The stock has a market cap of $154.69 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.30 and a beta of 1.42. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $1,033.61 and its two-hundred day moving average price is $1,051.36. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, beating the consensus estimate of $12.40 by $0.13. The firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. BlackRock’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the company earned $9.64 EPS. On average, analysts expect that BlackRock will post 52.8 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be paid a dividend of $5.73 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $22.92 annualized dividend and a yield of 2.3%. BlackRock’s dividend payout ratio (DPR) is presently 57.53%.

Analysts Set New Price Targets

Several brokerages recently weighed in on BLK. Weiss Ratings upgraded shares of BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. Evercore reiterated an “outperform” rating and issued a $1,220.00 price objective on shares of BlackRock in a research report on Wednesday, April 15th. Jefferies Financial Group cut their price objective on shares of BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. UBS Group lifted their price objective 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. Finally, TD Cowen cut their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,269.06.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) reported its first daily inflow in 13 days, bringing in $47.66 million and ending a recent streak of outflows. That suggests at least some stabilization in one of BlackRock’s most-watched ETF products. BlackRock Records First Bitcoin ETF Inflow in 13 Days
• Positive Sentiment: BlackRock executives sounded constructive on the macro backdrop, with commentary on a solid U.S. jobs report, AI-driven market trends, and the Fed’s likely patience on rates. Softer rate-hike expectations can support risk assets and asset-manager sentiment. BlackRock’s Rieder Talks Jobs Report, AI and Markets
• Positive Sentiment: BlackRock disclosed that its combined stake in Orion Corporation rose above 5%, highlighting ongoing portfolio activity and continued influence as a major global shareholder. Orion Corporation Disclosure Under Chapter 9 Section 10 of the Securities Market Act (BlackRock, Inc.)
• Neutral Sentiment: One analyst write-up said BlackRock’s fair value estimate was trimmed only slightly, pointing to mixed Street views rather than a major shift in fundamentals. Why The Narrative Around BlackRock (BLK) Is Shifting After Mixed Analyst Target Resets
• Neutral Sentiment: BlackRock’s portfolio manager Jeffrey Rosenberg said the Fed is not in a hurry to raise rates, reinforcing the view that policy may remain supportive for markets, though the comment itself is not company-specific. Fed Is In No Hurry To Raise Rates, BlackRock’s Rosenberg Says
• Negative Sentiment: BlackRock was also included in a sector-wide selloff tied to redemption concerns around Cliffwater’s Corporate Lending Fund, which raised fresh worries about liquidity in alternative credit products. Alternative Managers Shares Slip as Cliffwater Redemption Fears Mount
• Negative Sentiment: Broader crypto headlines remain a headwind: Bitcoin ETFs saw large outflows over the prior 13 days, and BlackRock’s IBIT was cited as a major contributor to the pressure, which can weigh on sentiment toward BLK’s ETF growth story. Bitcoin ETFs Lose $4.4B as Outflows Hit 13-Day Record Run

Insider Activity

In other news, CEO Laurence Fink sold 33,900 shares of BlackRock 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 value of $35,613,645.00. Following the transaction, the chief executive officer owned 230,516 shares of the company’s stock, valued at $242,168,583.80. The trade was a 12.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Robert Kapito sold 8,739 shares of BlackRock 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 completion of the transaction, the president directly owned 210,186 shares in the company, valued at $222,082,527.60. This represents a 3.99% decrease in their position. The SEC filing for this sale provides additional information. 1.92% of the stock is currently owned by company insiders.

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.