BlackRock $BLK Holdings Lowered by Strs Ohio

Strs Ohio reduced its stake in BlackRock (NYSE:BLK) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,057 shares of the asset manager’s stock after selling 2,015 shares during the period. Strs Ohio’s holdings in BlackRock were worth $39,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mitchell & Pahl Private Wealth LLC increased its stake in shares of BlackRock by 1.3% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 2,765 shares of the asset manager’s stock valued at $2,659,000 after acquiring an additional 35 shares during the period. Heritage Investors Management Corp lifted its position in BlackRock by 2.7% in the first quarter. Heritage Investors Management Corp now owns 40,111 shares of the asset manager’s stock worth $38,575,000 after purchasing an additional 1,065 shares during the period. Physician Wealth Advisors Inc. boosted its stake in BlackRock by 10.1% during the 1st quarter. Physician Wealth Advisors Inc. now owns 337 shares of the asset manager’s stock valued at $324,000 after purchasing an additional 31 shares in the last quarter. Smithbridge Asset Management Inc. DE bought a new position in BlackRock during the 1st quarter valued at $2,306,000. Finally, Petros Family Wealth LLC increased its position in shares of BlackRock by 10.8% during the 1st quarter. Petros Family Wealth LLC now owns 1,599 shares of the asset manager’s stock valued at $1,538,000 after purchasing an additional 156 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on BlackRock from $1,150.00 to $1,240.00 and gave the company an “outperform” rating in a report on Wednesday, April 15th. Morgan Stanley upped their price target on shares of BlackRock from $1,393.00 to $1,430.00 and gave the company an “overweight” rating in a report on Friday, June 26th. BNP Paribas Exane raised their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Weiss Ratings raised shares of BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. dropped 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 report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,269.44.

More 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

BlackRock Trading Down 0.1%

Shares of NYSE BLK opened at $994.50 on Friday. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The company has a market cap of $154.38 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 1.28 and a beta of 1.43. The business has a fifty day simple moving average of $1,038.02 and a 200-day simple moving average of $1,045.97.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 14.74% and a net margin of 24.40%.BlackRock’s revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the business posted $9.64 EPS. Sell-side analysts predict that BlackRock will post 53.34 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th were given a $5.73 dividend. This represents a $22.92 annualized dividend and a dividend 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 Activity at BlackRock

In related news, CEO Laurence Fink sold 33,900 shares of the firm’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 value of $35,613,645.00. Following the completion of the transaction, the chief executive officer owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. This trade represents a 12.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the president owned 210,186 shares in the company, valued at approximately $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. Company insiders own 1.92% of the company’s stock.

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.