Corient Private Wealth LLC Raises Stake in BlackRock $BLK

Key Points

• Corient Private Wealth LLC increased its BlackRock stake by 11.6% in the fourth quarter, buying 12,080 additional shares. The firm now owns 115,862 shares worth about $124.1 million.
• BlackRock continues to draw support from analysts and institutions. Several analysts raised price targets, and the stock currently carries a Moderate Buy consensus with a target price of $1,264.61.
• The company reported solid earnings and maintained a dividend payout. BlackRock beat quarterly EPS and revenue estimates, and it also announced a quarterly dividend of $5.73 per share to be paid on June 23.

Corient Private Wealth LLC raised its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,862 shares of the asset manager's stock after buying an additional 12,080 shares during the period. Corient Private Wealth LLC owned about 0.07% of BlackRock worth $124,117,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Shum Financial Group Inc. lifted its holdings in shares of BlackRock by 0.4% during the 4th quarter. Shum Financial Group Inc. now owns 2,183 shares of the asset manager's stock valued at $2,336,000 after acquiring an additional 9 shares in the last quarter. First Bancorp Inc ME lifted its stake in shares of BlackRock by 2.9% during the fourth quarter. First Bancorp Inc ME now owns 321 shares of the asset manager's stock worth $344,000 after purchasing an additional 9 shares in the last quarter. Rather & Kittrell Inc. lifted its stake in shares of BlackRock by 2.1% during the fourth quarter. Rather & Kittrell Inc. now owns 430 shares of the asset manager's stock worth $461,000 after purchasing an additional 9 shares in the last quarter. Oakworth Capital Inc. boosted its position in shares of BlackRock by 1.2% in the fourth quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager's stock worth $808,000 after buying an additional 9 shares during the period. Finally, Tortoise Investment Management LLC grew its stake in shares of BlackRock by 23.8% in the third quarter. Tortoise Investment Management LLC now owns 52 shares of the asset manager's stock valued at $61,000 after buying an additional 10 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s spot Bitcoin ETF continues to act as a gateway for new investors into traditional finance, with Jay Jacobs saying roughly three-quarters of IBIT holders had never owned an ETF before. That supports the case for continued asset-gathering strength in BlackRock’s ETF franchise. Article Title
• Positive Sentiment: BlackRock filed for an iShares Bitcoin Premium Income ETF, a covered-call product aimed at income seekers. The move suggests BlackRock is broadening its crypto ETF lineup and could attract more fee-generating inflows. Article Title
• Positive Sentiment: BlackRock Canada announced June cash distributions for multiple iShares ETFs, reinforcing the company’s large and steady ETF distribution machine, which can be viewed as a sign of recurring product demand. Article Title
• Neutral Sentiment: BlackRock was also highlighted as one of the largest Bitcoin holders, with Arkham data placing it ahead of Binance in BTC count. This reflects the scale of its crypto exposure, but it is more descriptive than fundamentally material on its own. Article Title
• Neutral Sentiment: Coverage comparing BlackRock with Blackstone and news about BlackRock entering the active high-yield ETF arena are broadly supportive of its product expansion, but neither article points to an immediate catalyst for the stock. Article Title
• Negative Sentiment: One headline noted BlackRock “dumps 1,000 Bitcoin” as BTC struggled to hold the $60,000 level. If sustained, weaker crypto prices could dampen sentiment around BlackRock’s Bitcoin-linked products, though the impact on BLK itself is likely limited. Article Title

Analysts Set New Price Targets

Several equities analysts recently commented on BLK shares. UBS Group boosted their price target on BlackRock from $1,235.00 to $1,270.00 and gave the stock a "buy" rating in a research report 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 stock an "overweight" rating in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods upped 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. Weiss Ratings raised shares of BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. cut their price objective on shares of BlackRock from $1,269.00 to $1,128.00 and set a "neutral" rating on the stock in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,264.61.

BlackRock Stock Up 0.1%

NYSE:BLK opened at $1,051.51 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 company has a market capitalization of $163.23 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 1.37 and a beta of 1.42. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The stock has a 50-day simple moving average of $1,047.92 and a 200 day simple moving average of $1,051.90.

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

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be issued a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, June 5th. BlackRock's dividend payout ratio is 57.53%.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 33,900 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the sale, 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction that occurred on 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 of the company's stock, valued at approximately $222,082,527.60. The trade was a 3.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.92% of the company's stock.

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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