BlackRock $BLK Shares Bought by Krilogy Financial LLC

Key Points

• Krilogy Financial LLC increased its BlackRock stake by 254% in Q4, buying 2,766 shares to hold 3,855 shares valued at $4.324 million, while other institutions (notably Oak Harvest) also ramped up positions and institutional investors now own 80.69% of the company.
• BlackRock beat Q1 estimates with EPS $12.53 and revenue of $6.70 billion (+27% YoY), spurring analyst upgrades and higher targets (UBS $1,270; BNP Paribas $1,300) and an average price target of $1,266.28 with a "Moderate Buy" consensus.
• There is offsetting risk as insiders sold about 84,272 shares (~$92.3M) over the past 90 days and the company faces headline/legal risk from a Pomerantz investor inquiry plus lingering private-credit liquidity concerns.

Krilogy Financial LLC grew its holdings in BlackRock (NYSE:BLK - Free Report) by 254.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,855 shares of the asset manager's stock after buying an additional 2,766 shares during the period. Krilogy Financial LLC's holdings in BlackRock were worth $4,324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BLK. Oak Harvest Investment Services raised its stake in BlackRock by 12,176.1% during the 4th quarter. Oak Harvest Investment Services now owns 1,595,153 shares of the asset manager's stock valued at $1,707,356,000 after acquiring an additional 1,582,159 shares during the last quarter. Viking Global Investors LP grew its stake in shares of BlackRock by 217.5% in the 3rd quarter. Viking Global Investors LP now owns 619,492 shares of the asset manager's stock valued at $722,247,000 after purchasing an additional 424,388 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of BlackRock by 29,043.2% in the third quarter. Parkside Financial Bank & Trust now owns 245,094 shares of the asset manager's stock valued at $285,748,000 after purchasing an additional 244,253 shares during the period. Amundi raised its stake in shares of BlackRock by 39.5% during the third quarter. Amundi now owns 547,249 shares of the asset manager's stock worth $645,354,000 after purchasing an additional 154,907 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of BlackRock by 13.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,213,561 shares of the asset manager's stock worth $1,414,854,000 after purchasing an additional 143,126 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Q1 results beat expectations — BlackRock reported stronger-than-expected revenue and EPS with healthy net inflows, which supports fee growth and the stock’s rally. BlackRock, Inc. Just Beat Earnings Expectations
• Positive Sentiment: Senior management bullish — Rick Rieder highlighted “extraordinary” equity technicals and strong earnings momentum on Bloomberg, reinforcing a risk-on view that can attract flows into BlackRock products. BlackRock's Rieder Says Equity Technicals Are Extraordinary
• Positive Sentiment: Analyst support and higher targets — Recent analyst notes and a new UBS price target lift sentiment and provide cover for buyers after the earnings print. BlackRock Given New $1,270.00 Price Target at UBS Group
• Positive Sentiment: Media endorsements and product demand — Commentary (including Jim Cramer) and attention to BlackRock’s private-credit capabilities and high-yield iShares ETFs may support asset-gathering prospects. Jim Cramer Highlights “BlackRock Has Good Private Credit”
• Neutral Sentiment: Product innovation / retirement flows — Coverage about private assets possibly entering 401(k)s and interest in BlackRock dividend/high-yield ETFs could expand addressable market over time, but adoption and regulation are still uncertain. Private Assets Could Join Your 401(k): What You Need To Know 5 Best High-Yield BlackRock Dividend ETFs Paying Over 5%
• Negative Sentiment: Private-credit liquidity concerns — Investors remain wary after a March cap on quarterly repurchases at BlackRock’s HPS corporate-lending vehicle and softer quarter-end AUM versus year-end, which pressured sentiment and prompted a post-earnings pullback earlier in the week. BlackRock slips 3.2% as investors digest Q1 results and lingering private-credit concerns
• Negative Sentiment: Investor lawsuit inquiry — Pomerantz has opened an investigation into BLK investor claims; legal action can create headline risk and potential costs, keeping some investors cautious. Pomerantz Law Firm Investigates Claims On Behalf of Investors of BlackRock

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. 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. Wall Street Zen upgraded shares of BlackRock from a "sell" rating to a "hold" rating in a research note on Saturday, January 17th. BNP Paribas Exane lifted their target price on shares of BlackRock from $1,290.00 to $1,300.00 and gave the company an "outperform" rating in a report on Thursday, January 15th. Freedom Capital upgraded shares of BlackRock from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of BlackRock from $1,150.00 to $1,240.00 and gave the company an "outperform" rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and an average price target of $1,266.28.

Insider Activity at BlackRock

In related news, Director Stephen Cohen sold 225 shares of the business's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $1,069.56, for a total transaction of $240,651.00. Following the sale, the director owned 5,661 shares of the company's stock, valued at approximately $6,054,779.16. The trade was a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director J. Richard Kushel sold 385 shares of the company's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $1,084.91, for a total transaction of $417,690.35. Following the transaction, the director owned 3,335 shares in the company, valued at $3,618,174.85. The trade was a 10.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 84,272 shares of company stock worth $92,323,426 over the last 90 days. Company insiders own 1.92% of the company's stock.

BlackRock Trading Up 0.0%

NYSE:BLK opened at $1,052.56 on Monday. BlackRock has a 1 year low of $845.82 and a 1 year high of $1,219.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a fifty day moving average price of $1,012.55 and a two-hundred day moving average price of $1,066.51. The stock has a market capitalization of $163.71 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.37 and a beta of 1.48.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping the consensus estimate of $12.40 by $0.13. BlackRock had a net margin of 24.40% and a return on equity of 14.96%. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the firm earned $9.64 EPS. The business's revenue was up 27.0% on a year-over-year basis. As a group, sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

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.

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