BlackRock $BLK Stock Position Increased by Nuveen LLC

Key Points

• Nuveen LLC boosted its BlackRock stake by 19.5% in the fourth quarter, adding 112,200 shares to bring its holdings to 687,722 shares worth about $736.1 million. Institutional investors now own roughly 80.69% of BlackRock.
• BlackRock reported strong quarterly results, with EPS of $12.53 beating estimates and revenue of $6.70 billion topping forecasts. Revenue rose 27% year over year, and analysts expect full-year EPS of 52.8.
• The company also announced a quarterly dividend of $5.73 per share, payable June 23, for an annualized payout of $22.92 and a 2.3% yield. Meanwhile, CEO Laurence Fink and President Robert Kapito recently sold shares, and analysts currently rate the stock a “Moderate Buy.”

Nuveen LLC lifted its position in BlackRock (NYSE:BLK - Free Report) by 19.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 687,722 shares of the asset manager's stock after buying an additional 112,200 shares during the period. Nuveen LLC owned approximately 0.44% of BlackRock worth $736,096,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BLK. Brighton Jones LLC raised its position in shares of BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after purchasing an additional 296 shares during the period. Bison Wealth LLC raised its position in shares of BlackRock by 1.6% during the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock worth $1,078,000 after purchasing an additional 17 shares during the period. Schnieders Capital Management LLC. acquired a new stake in shares of BlackRock during the second quarter worth $259,000. Nebula Research & Development LLC acquired a new stake in shares of BlackRock during the second quarter worth $548,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of BlackRock during the second quarter worth $98,000. Institutional investors own 80.69% of the company's stock.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is expanding its ETF lineup with new thematic products, including a space-focused fund in Europe/UK and a planned income-paying Bitcoin ETF, reinforcing its leadership in fast-growing areas of asset management. How Investors Are Reacting To BlackRock (BLK) Expanding Into Space ETFs And Digital Assets
• Positive Sentiment: Reports that BlackRock is seeking to buy at least $5 billion of SpaceX IPO shares highlight its willingness to back high-profile alternative assets and could support fee-generating opportunities if the deal moves forward. BlackRock seeks to buy at least $5 billion in SpaceX IPO shares, WSJ reports
• Positive Sentiment: BlackRock continues to dominate Bitcoin ETF flows with Fidelity, suggesting its crypto products are capturing the bulk of investor demand in the U.S. spot Bitcoin ETF market. BlackRock and Fidelity Dominate U.S. Bitcoin ETF Flows
• Neutral Sentiment: The Supreme Court’s ruling shielding investment funds from some shareholder lawsuits is broadly supportive for the asset-management industry, though the direct impact on BlackRock is limited. Supreme Court Shields Investment Funds From Shareholder Lawsuits
• Neutral Sentiment: Financial stocks were firmer in afternoon trading, creating a generally supportive backdrop for BlackRock, although the move appears driven by sector rotation rather than company-specific news. Sector Update: Financial Stocks Rise Late Afternoon
• Negative Sentiment: Some coverage noted BlackRock’s crypto portfolio declined by more than $12 billion early in June and that its Bitcoin holdings were sold while Ethereum was accumulated, which could raise questions about near-term digital-asset mark-to-market performance. BlackRock crypto portfolio falls by over $12 billion in early June

BlackRock Stock Performance

Shares of BLK stock opened at $1,017.36 on Friday. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $157.93 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 1.32 and a beta of 1.42. The stock's fifty day simple moving average is $1,038.39 and its 200-day simple moving average is $1,051.51.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, beating analysts' consensus estimates of $12.40 by $0.13. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The business had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the company posted $9.64 earnings per share. BlackRock's revenue for the quarter was up 27.0% compared to the same quarter last year. On average, sell-side analysts predict that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be paid a $5.73 dividend. The ex-dividend date is Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a yield of 2.3%. BlackRock's payout ratio is 57.53%.

Insider Transactions at BlackRock

In other BlackRock news, CEO Laurence Fink sold 33,900 shares of the business's stock in a transaction dated 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. The trade was a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Robert Kapito sold 8,739 shares of the business's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the completion of the transaction, the president owned 210,186 shares in the company, valued at $222,082,527.60. This trade represents a 3.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BLK shares. BMO Capital Markets boosted their target price on BlackRock from $1,200.00 to $1,250.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Evercore cut their target price on BlackRock from $1,220.00 to $1,140.00 and set an "outperform" rating on the stock in a research report on Monday. Jefferies Financial Group cut their target price 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. Weiss Ratings raised BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 13th. Finally, Keefe, Bruyette & Woods lifted their price target on BlackRock from $1,150.00 to $1,240.00 and gave the company an "outperform" rating in a report on Wednesday, April 15th. One investment 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,264.61.

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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