BlackRock $BLK Shares Acquired by Franklin Resources Inc.

Key Points

• Franklin Resources increased its BlackRock stake by 13.9% in the fourth quarter, buying 253,314 more shares and bringing its total holding to 2,070,468 shares valued at about $2.22 billion.
• BlackRock also saw continued interest from other big institutional investors, with firms like Vanguard, Capital Research Global Investors, Geode Capital Management, and Norges Bank adjusting or adding to positions; overall, institutions now own 80.69% of the stock.
• Insider selling was notable, as President Robert Kapito and CEO Laurence Fink both sold shares in late April, while BlackRock recently beat quarterly earnings and revenue estimates and maintained a quarterly dividend of $5.73 per share.

Franklin Resources Inc. grew its position in BlackRock (NYSE:BLK - Free Report) by 13.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,070,468 shares of the asset manager's stock after buying an additional 253,314 shares during the quarter. Franklin Resources Inc. owned 1.33% of BlackRock worth $2,216,105,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of BlackRock by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager's stock valued at $15,051,846,000 after buying an additional 221,123 shares in the last quarter. Capital Research Global Investors grew its stake in shares of BlackRock by 0.3% in the fourth quarter. Capital Research Global Investors now owns 3,838,937 shares of the asset manager's stock valued at $4,108,968,000 after buying an additional 12,019 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of BlackRock by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,167,460 shares of the asset manager's stock valued at $3,374,394,000 after buying an additional 27,640 shares in the last quarter. Norges Bank acquired a new stake in shares of BlackRock in the fourth quarter valued at $2,742,680,000. Finally, Capital International Investors grew its stake in shares of BlackRock by 7.4% in the fourth quarter. Capital International Investors now owns 1,976,762 shares of the asset manager's stock valued at $2,116,082,000 after buying an additional 135,674 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In other BlackRock 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 completion of the sale, the president directly owned 210,186 shares of the company's stock, valued at $222,082,527.60. The trade was a 3.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Laurence Fink sold 33,900 shares of BlackRock 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 sale, the chief executive officer directly owned 230,516 shares of the company's stock, valued at $242,168,583.80. This trade represents a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is owned by insiders.

BlackRock Trading Up 0.1%

NYSE:BLK opened at $996.54 on Monday. The firm has a market cap of $154.69 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.30 and a beta of 1.42. The stock has a fifty day moving average price of $1,033.61 and a 200 day moving average price of $1,051.55. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94. 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 (NYSE:BLK - Get Free Report) last released its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $12.40 by $0.13. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business posted $9.64 earnings per share. Sell-side analysts anticipate that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be issued a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, June 5th. BlackRock's payout ratio is 57.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group dropped their price objective on BlackRock from $1,351.00 to $1,199.00 and set a "buy" rating for the company in a research note on Wednesday, April 8th. Weiss Ratings upgraded BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Keefe, Bruyette & Woods lifted their target price 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 lifted their target price 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, The Goldman Sachs Group lifted their target price on BlackRock from $1,181.00 to $1,313.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and a consensus price target of $1,269.06.

Key Stories Impacting BlackRock

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

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.

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