BlackRock $BLK Shares Sold by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments Inc. cut its BlackRock stake by 84.3% in the first quarter, selling 209,032 shares and leaving it with 38,933 shares worth about $37.4 million.
• BlackRock insiders were also active sellers: President Robert Kapito sold 8,739 shares and CEO Laurence Fink sold 33,900 shares in late April, reducing their ownership stakes.
• Despite the selling, BlackRock posted a strong quarter, with EPS of $12.53 and revenue of $6.70 billion, both ahead of analyst expectations; the company also maintained a quarterly dividend of $5.73 per share.

Montrusco Bolton Investments Inc. lowered its stake in shares of BlackRock (NYSE:BLK - Free Report) by 84.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,933 shares of the asset manager's stock after selling 209,032 shares during the quarter. Montrusco Bolton Investments Inc.'s holdings in BlackRock were worth $37,442,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BLK. Corient Private Wealth LLC grew its holdings in BlackRock by 5,190.3% in the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager's stock valued at $5,876,618,000 after purchasing an additional 5,386,640 shares during the period. Norges Bank purchased a new stake in BlackRock during the fourth quarter worth approximately $2,742,680,000. Oak Harvest Investment Services increased its holdings in 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 purchasing an additional 1,582,159 shares in the last quarter. Auto Owners Insurance Co increased its stake in BlackRock by 106,934.0% during the fourth quarter. Auto Owners Insurance Co now owns 1,284,408 shares of the asset manager's stock valued at $128,441,000 after purchasing an additional 1,283,208 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of BlackRock by 200.5% in the 4th quarter. Wellington Management Group LLP now owns 1,451,122 shares of the asset manager's stock worth $1,553,194,000 after acquiring an additional 968,245 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related 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 sale, the president directly owned 210,186 shares of the company's stock, valued at $222,082,527.60. This trade represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurence Fink sold 33,900 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were 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 represents a 12.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.92% of the company's stock.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s ETFs were included in the Treasury’s approved lineup for Trump Accounts, potentially expanding assets and visibility for the firm’s flagship products. Reference
• Positive Sentiment: Articles highlighted continued analyst optimism around BlackRock’s earnings setup, with expectations that the company could beat estimates again when it reports next quarter. Article: Will BlackRock (BLK) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Tokenized versions of BlackRock’s IVV ETF were launched by Ondo Finance under SEC guidance, reinforcing BlackRock’s relevance in the growing onchain asset market. Article: BlackRock (BLK) Stock Fair Value Edges Higher As Analysts Debate Earnings And Flows
• Neutral Sentiment: BlackRock also disclosed a small reduction in its voting stake in Umicore, but the filing appears routine and unlikely to materially affect BLK shares. Article: Umicore - Transparency notification by BlackRock, Inc.
• Neutral Sentiment: Crypto headlines were mixed, with Bitcoin ETF outflows and broader crypto weakness offset by growing demand for BlackRock’s tokenized BUIDL product. Article: Yield-bearing stablecoin slowdown ends three-year run for crypto-native products

BlackRock Stock Down 0.1%

Shares of BLK stock opened at $994.50 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. The stock's 50 day simple moving average is $1,038.02 and its 200 day simple moving average is $1,045.97. The company has a market capitalization of $154.38 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 1.28 and a beta of 1.43. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94.

BlackRock (NYSE:BLK - Get Free Report) last posted 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 business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. 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 EPS. As a group, research analysts predict that BlackRock will post 53.34 EPS for the current year.

BlackRock Dividend Announcement

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

Analyst Ratings Changes

BLK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of BlackRock from $1,269.00 to $1,128.00 and set a "neutral" rating for the company in a research report on Monday, April 13th. BMO Capital Markets increased their price objective on shares of BlackRock from $1,200.00 to $1,250.00 and gave the company an "outperform" rating in a report on Monday, April 20th. TD Cowen dropped their target price on BlackRock from $1,238.00 to $1,105.00 and set a "hold" rating on the stock in a report on Thursday, April 9th. Barclays upped their target price on BlackRock from $1,290.00 to $1,310.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Finally, Jefferies Financial Group decreased their price target 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. One 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,269.44.

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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