Emissary Wealth LLC Buys New Stake in BlackRock $BLK

Key Points

• Emissary Wealth LLC bought a new stake of 2,196 BlackRock shares in Q4 valued at about $2.35 million, making BLK roughly 2.0% of its portfolio and its 20th-largest holding.
• Insider selling has been significant recently: a director sold 20,000 shares and the COO sold 54,190 shares, with insiders offloading 84,272 shares (~$92.3M) in the last 90 days and owning just 1.92% of the company.
• Operational and analyst backdrop: BlackRock beat Q1 estimates (EPS $12.53 vs $12.40; revenue $6.70B vs $6.56B), and analysts assign a "Moderate Buy" consensus with an average price target of $1,266.28.

Emissary Wealth LLC bought a new stake in shares of BlackRock (NYSE:BLK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,196 shares of the asset manager's stock, valued at approximately $2,350,000. BlackRock accounts for about 2.0% of Emissary Wealth LLC's investment portfolio, making the stock its 20th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital International Investors lifted its position in BlackRock by 0.6% during the third quarter. Capital International Investors now owns 1,841,088 shares of the asset manager's stock valued at $2,146,663,000 after purchasing an additional 10,591 shares during the period. Oak Harvest Investment Services raised its position in shares of BlackRock by 12,176.1% in the fourth quarter. Oak Harvest Investment Services now owns 1,595,153 shares of the asset manager's stock worth $1,707,356,000 after acquiring an additional 1,582,159 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of BlackRock by 13.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,213,561 shares of the asset manager's stock worth $1,414,854,000 after acquiring an additional 143,126 shares during the period. Legal & General Group Plc raised its position in shares of BlackRock by 4.5% in the third quarter. Legal & General Group Plc now owns 913,121 shares of the asset manager's stock worth $1,064,580,000 after acquiring an additional 39,412 shares during the period. Finally, Viking Global Investors LP raised its position in shares of BlackRock by 217.5% in the third quarter. Viking Global Investors LP now owns 619,492 shares of the asset manager's stock worth $722,247,000 after acquiring an additional 424,388 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 20,000 shares of the company's stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $1,125.00, for a total transaction of $22,500,000.00. Following the completion of the sale, the director owned 61,894 shares of the company's stock, valued at approximately $69,630,750. This represents a 24.42% 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, 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 sale, the chief operating officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 84,272 shares of company stock worth $92,323,426 in the last 90 days. Insiders own 1.92% of the company's stock.

Analysts Set New Price Targets

BLK has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $1,296.00 to $1,380.00 in a research report on Thursday, January 15th. BMO Capital Markets decreased their price objective on shares of BlackRock from $1,300.00 to $1,200.00 and set an "outperform" rating for the company in a research report on Friday, April 10th. Freedom Capital upgraded shares of BlackRock from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 23rd. CICC Research upped their price objective on shares of BlackRock from $1,000.00 to $1,250.00 in a research report on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of BlackRock in a research report on Friday, March 27th. One investment 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,266.28.

BlackRock Stock Up 0.0%

BLK opened at $1,052.56 on Monday. BlackRock has a twelve month low of $845.82 and a twelve month high of $1,219.94. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $1,012.55 and a 200 day moving average price of $1,066.51. The company has a market cap of $163.71 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 1.37 and a beta of 1.48.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, topping the consensus estimate of $12.40 by $0.13. BlackRock had a net margin of 24.40% and a return on equity of 14.96%. The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the prior year, the firm earned $9.64 EPS. The company's revenue for the quarter was up 27.0% on a year-over-year basis. Sell-side analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Q1 results beat expectations — BlackRock reported stronger-than-expected revenue and EPS with healthy net inflows, which supports fee growth and the stock’s rally. BlackRock, Inc. Just Beat Earnings Expectations
• Positive Sentiment: Senior management bullish — Rick Rieder highlighted “extraordinary” equity technicals and strong earnings momentum on Bloomberg, reinforcing a risk-on view that can attract flows into BlackRock products. BlackRock's Rieder Says Equity Technicals Are Extraordinary
• Positive Sentiment: Analyst support and higher targets — Recent analyst notes and a new UBS price target lift sentiment and provide cover for buyers after the earnings print. BlackRock Given New $1,270.00 Price Target at UBS Group
• Positive Sentiment: Media endorsements and product demand — Commentary (including Jim Cramer) and attention to BlackRock’s private-credit capabilities and high-yield iShares ETFs may support asset-gathering prospects. Jim Cramer Highlights “BlackRock Has Good Private Credit”
• Neutral Sentiment: Product innovation / retirement flows — Coverage about private assets possibly entering 401(k)s and interest in BlackRock dividend/high-yield ETFs could expand addressable market over time, but adoption and regulation are still uncertain. Private Assets Could Join Your 401(k): What You Need To Know 5 Best High-Yield BlackRock Dividend ETFs Paying Over 5%
• Negative Sentiment: Private-credit liquidity concerns — Investors remain wary after a March cap on quarterly repurchases at BlackRock’s HPS corporate-lending vehicle and softer quarter-end AUM versus year-end, which pressured sentiment and prompted a post-earnings pullback earlier in the week. BlackRock slips 3.2% as investors digest Q1 results and lingering private-credit concerns
• Negative Sentiment: Investor lawsuit inquiry — Pomerantz has opened an investigation into BLK investor claims; legal action can create headline risk and potential costs, keeping some investors cautious. Pomerantz Law Firm Investigates Claims On Behalf of Investors of BlackRock

BlackRock 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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