Comerica Bank Has $51.57 Million Holdings in BlackRock $BLK

Key Points

• Comerica Bank trimmed its stake in BlackRock by 3.9% in Q4 to 48,178 shares, leaving holdings valued at about $51.57 million.
• BlackRock beat quarterly expectations, reporting $12.53 EPS vs. $12.40 and $6.70 billion in revenue (up 27% YoY); analysts carry a consensus "Moderate Buy" and a $1,269.06 target price.
• Insider selling has been notable: COO Robert Goldstein sold 5,293 shares for roughly $5.74 million and insiders sold 64,272 shares (~$69.8 million) over the past three months, while institutional investors own about 80.7% of the stock.

Comerica Bank cut its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,178 shares of the asset manager's stock after selling 1,947 shares during the period. Comerica Bank's holdings in BlackRock were worth $51,567,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Investment Research & Advisory Group Inc. acquired a new stake in shares of BlackRock in the 3rd quarter valued at approximately $6,201,000. Lingohr Asset Management GmbH acquired a new stake in shares of BlackRock in the 3rd quarter valued at approximately $700,000. Ontario Teachers Pension Plan Board raised its position in shares of BlackRock by 6,347.9% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 42,234 shares of the asset manager's stock valued at $49,239,000 after acquiring an additional 41,579 shares during the period. Sienna Gestion raised its position in shares of BlackRock by 51.5% in the 3rd quarter. Sienna Gestion now owns 22,859 shares of the asset manager's stock valued at $24,299,000 after acquiring an additional 7,773 shares during the period. Finally, Tandem Investment Advisors Inc. acquired a new stake in shares of BlackRock in the 3rd quarter valued at approximately $83,247,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BLK shares. JPMorgan Chase & Co. cut their price target on shares of BlackRock from $1,269.00 to $1,128.00 and set a "neutral" rating on the stock in a research report on Monday, April 13th. BNP Paribas Exane increased their price target on shares of BlackRock from $1,290.00 to $1,300.00 and gave the company an "outperform" rating in a research report on Thursday, January 15th. Barclays increased their price target on shares of BlackRock from $1,290.00 to $1,310.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. TD Cowen cut their price target on shares of BlackRock from $1,238.00 to $1,105.00 and set a "hold" rating on the stock in a research report on Thursday, April 9th. Finally, Jefferies Financial Group lowered their target price 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 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,269.06.

Insider Buying and Selling

In related news, COO Robert L. Goldstein sold 5,293 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,084.22, for a total transaction of $5,738,776.46. Following the completion of the sale, the chief operating officer directly owned 46,185 shares of the company's stock, valued at approximately $50,074,700.70. This represents a 10.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J. Richard Kushel sold 385 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $1,084.91, for a total transaction of $417,690.35. Following the transaction, the director directly owned 3,335 shares of the company's stock, valued at $3,618,174.85. This represents a 10.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 64,272 shares of company stock valued at $69,823,426. 1.92% of the stock is owned by corporate insiders.

BlackRock News Summary

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

BlackRock Price Performance

NYSE BLK opened at $1,045.12 on Monday. The business has a 50 day simple moving average of $1,010.07 and a 200 day simple moving average of $1,062.44. BlackRock has a 52-week low of $893.93 and a 52-week high of $1,219.94. 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 stock has a market cap of $162.56 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 1.36 and a beta of 1.48.

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, topping analysts' consensus estimates of $12.40 by $0.13. BlackRock had a return on equity of 14.96% and a net margin of 24.40%.The business had revenue of $6.70 billion during the quarter, compared to analysts' expectations of $6.56 billion. During the same period in the prior year, the business earned $9.64 EPS. BlackRock's revenue for the quarter was up 27.0% compared to the same quarter last year. Analysts anticipate that BlackRock will post 52.77 earnings per share for the current fiscal year.

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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