BlackRock $BLK Shares Sold by State of Michigan Retirement System

Key Points

• In related insider activity, COO Robert L. Goldstein sold 54,190 shares at about $1,087.29 each (~$58.9M), and insiders have sold 64,272 shares totaling roughly $69.8M over the past three months.
• State of Michigan Retirement System trimmed its BlackRock stake by 4.4% in Q4, selling 1,800 shares and leaving 39,271 shares valued at about $42.0M, while institutions own roughly 80.69% of the stock.
• BlackRock beat quarterly estimates with $12.53 EPS and $6.70B revenue (up 27% YoY), and analysts maintain a consensus Moderate Buy rating with an average target near $1,269.

State of Michigan Retirement System decreased its position in shares of BlackRock (NYSE:BLK - Free Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,271 shares of the asset manager's stock after selling 1,800 shares during the quarter. State of Michigan Retirement System's holdings in BlackRock were worth $42,033,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. TruNorth Capital Management LLC lifted its stake in shares of BlackRock by 1,000.0% in the 3rd quarter. TruNorth Capital Management LLC now owns 22 shares of the asset manager's stock valued at $26,000 after purchasing an additional 20 shares during the period. LFA Lugano Financial Advisors SA acquired a new stake in BlackRock during the fourth quarter valued at $32,000. Hopwood Financial Services Inc. increased its holdings in BlackRock by 866.7% in the third quarter. Hopwood Financial Services Inc. now owns 29 shares of the asset manager's stock valued at $34,000 after buying an additional 26 shares in the last quarter. Collier Financial purchased a new position in BlackRock in the third quarter valued at $36,000. Finally, Goodman Advisory Group LLC acquired a new position in shares of BlackRock in the third quarter worth about $37,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Robert L. Goldstein sold 54,190 shares of the company's stock in a transaction dated 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 sale, the chief operating officer owned 51,478 shares of the company's stock, valued at approximately $55,971,514.62. This represents a 51.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $1,083.05, for a total transaction of $2,166,100.00. Following the completion of the sale, the director owned 61,980 shares of the company's stock, valued at approximately $67,127,439. The trade was a 3.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 64,272 shares of company stock worth $69,823,426. 1.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BLK has been the topic of a number of analyst reports. Wall Street Zen upgraded BlackRock from a "sell" rating to a "hold" rating in a research report on Saturday, January 17th. UBS Group upped their price target on BlackRock from $1,235.00 to $1,270.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Jefferies Financial Group lowered their price target on BlackRock from $1,351.00 to $1,199.00 and set a "buy" rating on the stock in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods raised their price objective on BlackRock from $1,150.00 to $1,240.00 and gave the company an "outperform" rating in a report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. cut their price objective on 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. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,269.06.

BlackRock Stock Up 0.0%

NYSE BLK opened at $1,045.12 on Monday. The business has a fifty day moving average price of $1,010.07 and a 200 day moving average price of $1,062.44. 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 company has a market cap of $162.56 billion, a P/E ratio of 26.23, a P/E/G ratio of 1.36 and a beta of 1.48. BlackRock has a one year low of $893.93 and a one year high of $1,219.94.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $12.40 by $0.13. The business had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.96%. The company's revenue for the quarter was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.64 earnings per share. Research analysts anticipate that BlackRock will post 52.77 EPS for the current fiscal year.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Spot bitcoin ETF inflows have accelerated this month, with BlackRock’s IBIT among the leaders — stronger ETF flows boost AUM and recurring fee revenue for BlackRock’s iShares platform. Bitcoin ETFs Just Turned Positive Across Every Timeframe
• Positive Sentiment: Multiple reports show recent sizeable purchases of BTC tied to BlackRock/its products (e.g., IBIT buying activity), which can lift AUM and future management fees if inflows persist. BlackRock buys $900M in Bitcoin
• Neutral Sentiment: BlackRock’s recent April earnings beat and strong quarterly revenue/AUM growth remain a positive backdrop for the stock but may already be priced in after the post‑earnings move. BLK Earnings Summary
• Neutral Sentiment: Media pieces highlighting popular BlackRock ETFs and income/dividend ETF ideas may drive retail interest but are unlikely to change fundamentals near-term. TipRanks: BlackRock ETFs
• Negative Sentiment: Reports that BlackRock’s bitcoin exposure corresponds with a multibillion-dollar unrealized loss (and press coverage of a large BTC purchase amid that loss) raise concerns about mark‑to‑market volatility and potential near‑term earnings noise. BlackRock buys 30,000 BTC amid $6.3B unrealized loss
• Negative Sentiment: Wider market pressures — bond-market weakness and geopolitical jitters (US‑Iran tensions) — are causing risk‑off flows that typically weigh on asset‑manager multiples and can reduce new inflows. Global Bonds Set for Worst Week

About BlackRock

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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