BlackRock $BLK Shares Purchased by Turtle Creek Wealth Advisors LLC

Key Points

• Turtle Creek Wealth Advisors LLC increased its BlackRock stake by 7.8% in the first quarter, adding 1,210 shares to bring its total to 16,712 shares worth about $16.1 million.
• BlackRock received several positive business developments, including the U.S. Treasury selecting its IVV and ITOT ETFs for the new Trump Accounts program, which could support future inflows.
• The company has also been performing well financially, with its latest quarter beating EPS and revenue estimates, while analysts broadly maintain a Moderate Buy outlook with an average price target of $1,269.44.

Turtle Creek Wealth Advisors LLC increased its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,712 shares of the asset manager's stock after buying an additional 1,210 shares during the quarter. BlackRock accounts for about 1.2% of Turtle Creek Wealth Advisors LLC's portfolio, making the stock its 19th largest position. Turtle Creek Wealth Advisors LLC's holdings in BlackRock were worth $16,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Shum Financial Group Inc. grew its position in BlackRock by 0.4% during the 4th quarter. Shum Financial Group Inc. now owns 2,183 shares of the asset manager's stock worth $2,336,000 after purchasing an additional 9 shares during the period. First Bancorp Inc ME lifted its holdings in shares of BlackRock by 2.9% in the 4th quarter. First Bancorp Inc ME now owns 321 shares of the asset manager's stock valued at $344,000 after buying an additional 9 shares during the period. Rather & Kittrell Inc. lifted its holdings in shares of BlackRock by 2.1% in the 4th quarter. Rather & Kittrell Inc. now owns 430 shares of the asset manager's stock valued at $461,000 after buying an additional 9 shares during the period. Oakworth Capital Inc. boosted its stake in shares of BlackRock by 1.2% in the fourth quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager's stock worth $808,000 after buying an additional 9 shares during the last quarter. Finally, Tortoise Investment Management LLC grew its holdings in BlackRock by 23.8% during the third quarter. Tortoise Investment Management LLC now owns 52 shares of the asset manager's stock worth $61,000 after acquiring an additional 10 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: The U.S. Treasury chose BlackRock’s IVV and ITOT ETFs for the new Trump Accounts program, which could boost future ETF inflows and reinforce BlackRock’s position in low-cost index investing. US Treasury picks BlackRock, Vanguard ETFs for Trump Accounts
• Positive Sentiment: BlackRock’s BUIDL tokenized treasury product continued to grow even as crypto-native yield products shrank, underscoring demand for asset-backed digital products tied to traditional markets. Yield-bearing stablecoin slowdown ends three-year run for crypto-native products
• Positive Sentiment: BlackRock was also highlighted in articles about expanding tokenization efforts and ETF adoption, which may help support longer-term growth narratives around its iShares franchise. Ondo Finance brings U.S. stocks onchain for the first time following SEC guidance
• Positive Sentiment: Analyst notes saying BlackRock has a strong history of beating earnings estimates may also be helping sentiment ahead of its next report on July 15. Will BlackRock (BLK) Beat Estimates Again in Its Next Earnings Report?

BlackRock Price Performance

BlackRock stock opened at $994.50 on Friday. The stock has a market capitalization of $154.38 billion, a P/E ratio of 24.96, a P/E/G ratio of 1.26 and a beta of 1.43. The company's fifty day moving average price is $1,039.37 and its 200 day moving average price is $1,046.33. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.40 by $0.13. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The business had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period last year, the firm posted $9.64 earnings per share. The company's revenue was up 27.0% compared to the same quarter last year. As a group, equities research analysts anticipate that BlackRock will post 53.34 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 5th were paid a $5.73 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a yield of 2.3%. BlackRock's dividend payout ratio (DPR) is currently 57.53%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Barclays lifted their price target on BlackRock from $1,290.00 to $1,310.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. UBS Group lifted their target price on shares of BlackRock from $1,235.00 to $1,270.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. BMO Capital Markets boosted their target price on shares of BlackRock from $1,200.00 to $1,250.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. BNP Paribas Exane lifted their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a report on Tuesday, June 23rd. Finally, Evercore decreased their price objective on shares of BlackRock from $1,220.00 to $1,140.00 and set an "outperform" rating for the company in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,269.44.

Insider Activity

In other news, CEO Laurence Fink sold 33,900 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 230,516 shares in the company, valued at $242,168,583.80. This trade represents a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $9,233,627.40. Following the completion of the sale, the president directly owned 210,186 shares in the company, valued at $222,082,527.60. This represents a 3.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.92% of the company's stock.

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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