BlackRock $BLK Shares Sold by Moneco Advisors LLC

Key Points

• Moneco Advisors LLC cut its BlackRock stake by 82% in the fourth quarter, leaving it with 316 shares worth about $339,000. Other institutional investors also adjusted positions, while institutions overall still own 80.69% of BlackRock shares.
• BlackRock reported better-than-expected quarterly results, with EPS of $12.53 versus $12.40 expected and revenue of $6.70 billion versus $6.56 billion expected. Revenue jumped 27% year over year, underscoring strong operating momentum.
• Several analysts remain constructive on BLK, with multiple firms raising price targets and the stock carrying a consensus rating of "Moderate Buy." Insider selling also continued, including a large sale by President Robert Kapito.

Moneco Advisors LLC lessened its position in shares of BlackRock (NYSE:BLK - Free Report) by 82.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 316 shares of the asset manager's stock after selling 1,435 shares during the quarter. Moneco Advisors LLC's holdings in BlackRock were worth $339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Biltmore Family Office LLC raised its stake in BlackRock by 1.6% in the 4th quarter. Biltmore Family Office LLC now owns 817 shares of the asset manager's stock valued at $874,000 after purchasing an additional 13 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in BlackRock by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,488 shares of the asset manager's stock valued at $17,648,000 after purchasing an additional 53 shares during the last quarter. Stonebridge Financial Group LLC MO acquired a new position in BlackRock in the 4th quarter valued at about $407,000. Liberty Wealth Management LLC raised its stake in BlackRock by 6.3% in the 4th quarter. Liberty Wealth Management LLC now owns 218 shares of the asset manager's stock valued at $234,000 after purchasing an additional 13 shares during the last quarter. Finally, Independent Advisor Alliance raised its stake in BlackRock by 23.1% in the 4th quarter. Independent Advisor Alliance now owns 4,419 shares of the asset manager's stock valued at $4,730,000 after purchasing an additional 830 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Down 2.0%

BLK opened at $1,081.49 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09. The stock has a market capitalization of $167.88 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The business has a 50-day moving average of $1,009.21 and a two-hundred day moving average of $1,055.57. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94.

BlackRock (NYSE:BLK - Get Free Report) last posted 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 company had revenue of $6.70 billion during the quarter, compared to analysts' expectations of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The firm's revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.64 EPS. On average, research analysts expect that BlackRock will post 52.77 earnings per share for the current year.

Insiders Place Their Bets

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 value of $9,233,627.40. Following the completion of the sale, the president owned 210,186 shares in the company, valued at $222,082,527.60. The trade was a 3.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director J. Richard Kushel sold 385 shares of BlackRock stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $1,084.91, for a total value of $417,690.35. Following the completion of the sale, the director owned 3,335 shares of the company's stock, valued at $3,618,174.85. This trade represents a 10.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 45,249 shares of company stock worth $47,671,714 over the last 90 days. Corporate insiders own 1.92% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BLK shares. UBS Group boosted their target price on shares of BlackRock from $1,235.00 to $1,270.00 and gave the company a "buy" rating in a research note 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. Barclays boosted their target price on shares of BlackRock from $1,290.00 to $1,310.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Morgan Stanley boosted their target price on shares of BlackRock from $1,368.00 to $1,393.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of BlackRock from $1,150.00 to $1,240.00 and gave the company an "outperform" rating in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,269.06.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s GIP unit is teaming with Temasek and Abu Dhabi-linked investors to target up to $30 billion in infrastructure deals, a sign that the firm continues to expand its alternative-investments platform and fee-earning asset base. Reuters article
• Positive Sentiment: JPMorgan increased its holdings of BlackRock’s IBIT Bitcoin ETF by 174%, reinforcing institutional demand for BlackRock’s crypto-linked products and supporting the company’s ETF growth story. Cointelegraph article
• Positive Sentiment: BlackRock is also being highlighted for income-focused ETF demand, with several high-yield iShares funds offering yields above 6%, which may keep assets flowing into its ETF franchise. TipRanks article

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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