BlackRock $BLK Shares Bought by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its BlackRock stake by 19.6% in the fourth quarter, adding 1,478 shares and bringing its total to 9,008 shares valued at about $9.64 million.
• BlackRock continues to attract heavy institutional ownership, with firms like Vanguard, Capital International Investors, and others also boosting positions; institutions and hedge funds now own 80.69% of the company.
• Analysts remain broadly positive on BLK, with a consensus rating of Moderate Buy and an average price target of $1,269.06, even as some recent targets were mixed.

NewEdge Wealth LLC boosted its position in shares of BlackRock (NYSE:BLK - Free Report) by 19.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,008 shares of the asset manager's stock after acquiring an additional 1,478 shares during the period. NewEdge Wealth LLC's holdings in BlackRock were worth $9,641,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of BlackRock by 1.6% in the 4th 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 International Investors boosted its holdings in shares of BlackRock by 0.6% in the 3rd quarter. Capital International Investors now owns 1,841,088 shares of the asset manager's stock valued at $2,146,663,000 after buying an additional 10,591 shares in the last quarter. Oak Harvest Investment Services boosted its holdings in shares of BlackRock by 12,176.1% in 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 buying an additional 1,582,159 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of BlackRock by 13.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,213,561 shares of the asset manager's stock valued at $1,414,854,000 after buying an additional 143,126 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of BlackRock by 4.5% in the 3rd quarter. Legal & General Group Plc now owns 913,121 shares of the asset manager's stock valued at $1,064,580,000 after buying an additional 39,412 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BLK. Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $1,296.00 to $1,380.00 in a report on Thursday, January 15th. TD Cowen lowered their target price on shares of BlackRock from $1,238.00 to $1,105.00 and set a "hold" rating for the company in a report on Thursday, April 9th. Freedom Capital upgraded shares of BlackRock from a "hold" rating to a "strong-buy" rating in a report on Friday, January 23rd. Morgan Stanley upped their target price on shares of 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 upped their price target on shares of BlackRock from $1,181.00 to $1,313.00 and gave the company a "buy" rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and an average target price of $1,269.06.

BlackRock Stock Down 0.1%

BLK stock opened at $1,083.38 on Monday. The company has a fifty day moving average price of $1,006.83 and a 200 day moving average price of $1,056.97. 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 $168.51 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly 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 during the quarter, compared to the consensus estimate of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. BlackRock's revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.64 EPS. Sell-side analysts expect that BlackRock will post 52.77 earnings per share for the current year.

Insider Activity at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,190 shares of the company's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $1,087.29, for a total transaction of $58,920,245.10. Following the completion of the transaction, the chief operating officer owned 51,478 shares in the company, valued at approximately $55,971,514.62. This represents a 51.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the company's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the transaction, the chief executive officer owned 230,516 shares of the company's stock, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 106,911 shares of company stock worth $114,670,698 in the last 90 days. Corporate insiders own 1.92% of the company's stock.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is drawing interest from investors after reports highlighted its new Aladdin private credit features with Preqin, which could strengthen its data and analytics offering in a growing market and support future asset-management revenue. BlackRock (BLK) Valuation Check As New Aladdin Private Credit Features With Preqin Draw Focus
• Positive Sentiment: CEO Larry Fink’s push for clearer crypto and tokenization rules, along with comments that “compute futures” could become a new asset class, reinforces BlackRock’s reputation as an innovation leader in digital assets and next-generation markets. BlackRock CEO Larry Fink Is Demanding Crypto Regulations. Here's What It Means for Investors.
• Positive Sentiment: BlackRock’s ETF franchise continues to be highlighted as a major competitive advantage, with articles pointing to lower fees, scale, and liquidity benefits that could keep supporting inflows into iShares products. BlackRock Touts ETFs as Liquidity Antidote to Private Exposure
• Neutral Sentiment: BlackRock’s philanthropic $30 million Texas workforce initiative may improve brand and public relations, but it is unlikely to move the stock materially in the near term. BlackRock Launches Signature Philanthropic Initiative in Texas with $30M Commitment to Grow Electrical Workforce
• Negative Sentiment: Recent reports that BlackRock cut the value of parts of its private credit portfolio, including markdowns tied to software borrowers, are a reminder that credit risk remains elevated in a softer lending environment. BlackRock cut private credit fund's value by 5% in first quarter
• Negative Sentiment: News that a BlackRock Asia private credit fund is trying to recover money from a defaulted China loan adds to concerns about underwriting quality and credit performance in the firm’s private markets business. BlackRock Fund Faces Test in Recovering Defaulted China Loan

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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