AFT Forsyth & Company Inc. acquired a new position in BlackRock (NYSE:BLK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,305 shares of the asset manager's stock, valued at approximately $2,467,000. BlackRock accounts for approximately 1.1% of AFT Forsyth & Company Inc.'s portfolio, making the stock its 20th largest holding.
Other large investors also recently modified their holdings of the company. Evolution Wealth Management Inc. bought a new stake in shares of BlackRock in the fourth quarter worth $26,000. Birchbrook Inc. bought a new stake in shares of BlackRock in the fourth quarter worth $31,000. LFA Lugano Financial Advisors SA bought a new stake in shares of BlackRock in the fourth quarter worth $32,000. Basepoint Wealth LLC bought a new stake in shares of BlackRock in the fourth quarter worth $32,000. Finally, Swiss RE Ltd. bought a new stake in BlackRock during the fourth quarter valued at about $33,000. Institutional investors own 80.69% of the company's stock.
Insider Transactions at BlackRock
In related news, President Robert Kapito sold 8,739 shares of the business's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the sale, the president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 33,900 shares of the business's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the completion of the sale, the chief executive officer owned 230,516 shares in the company, valued at $242,168,583.80. This represents a 12.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.92% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
BLK has been the subject of several recent research reports. Weiss Ratings raised BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Evercore cut their price target on BlackRock from $1,220.00 to $1,140.00 and set an "outperform" rating for the company in a report on Monday, June 8th. The Goldman Sachs Group boosted their price target on BlackRock from $1,181.00 to $1,313.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. Morgan Stanley boosted their price target on BlackRock from $1,368.00 to $1,393.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Finally, Jefferies Financial Group cut their price target on BlackRock from $1,351.00 to $1,199.00 and set a "buy" rating for the company in a report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,264.61.
View Our Latest Stock Analysis on BLK
Key BlackRock News
Here are the key news stories impacting BlackRock this week:
- Negative Sentiment: BlackRock’s private-credit funds saw redemption requests far above the cap, and the firm is again limiting withdrawals, which could weigh on sentiment around its alternatives business. Reuters article
- Negative Sentiment: Bloomberg and other reports said BlackRock’s HPS/HLEND private-credit vehicles capped redemptions after investors sought to withdraw more than 5%, underscoring continued pressure in the funds. Bloomberg article
- Neutral Sentiment: BlackRock also reported buying additional Bitcoin and Ethereum holdings, and it is preparing an income-focused Bitcoin ETF, highlighting continued growth in its digital-asset franchise. Finbold article
- Neutral Sentiment: Reports that BlackRock may seek about $5 billion of SpaceX IPO shares point to strong client demand and product breadth, but this is not as immediate a driver as the redemption headlines. Reuters article
BlackRock Price Performance
NYSE:BLK opened at $1,031.45 on Friday. 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 has a market capitalization of $160.11 billion, a P/E ratio of 25.89, a P/E/G ratio of 1.34 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 business's 50-day moving average is $1,039.86 and its 200 day moving average is $1,051.37.
BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping analysts' consensus estimates of $12.40 by $0.13. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The firm's revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the business earned $9.64 earnings per share. On average, equities research analysts forecast that BlackRock will post 52.8 earnings per share for the current fiscal year.
BlackRock Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 5th will be given a $5.73 dividend. 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 payout ratio is currently 57.53%.
BlackRock Profile
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Free Report)
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.
Further Reading
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