Eurizon Capital SGR S.p.A. Invests $80.18 Million in BlackRock $BLK

Key Points

• Eurizon Capital SGR opened a new position in BlackRock during the fourth quarter, buying 74,799 shares valued at about $80.2 million.
• BlackRock continues to draw strong institutional interest, with multiple other funds adding or increasing stakes and 80.69% of the stock now owned by institutional investors.
• Despite solid recent earnings and a quarterly dividend of $5.73 per share, sentiment is being pressured by heavy outflows from BlackRock’s IBIT bitcoin ETF and recent insider share sales by top executives.

Eurizon Capital SGR S.p.A. acquired a new position in shares of BlackRock (NYSE:BLK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 74,799 shares of the asset manager's stock, valued at approximately $80,184,000.

A number of other hedge funds also recently made changes to their positions in the stock. Triglav Investments D.O.O. bought a new stake in shares of BlackRock during the 4th quarter worth $489,000. Zhang Financial LLC lifted its holdings in shares of BlackRock by 2.1% during the 4th quarter. Zhang Financial LLC now owns 1,197 shares of the asset manager's stock worth $1,281,000 after acquiring an additional 25 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new stake in shares of BlackRock during the 4th quarter worth $2,018,000. National Pension Service lifted its holdings in shares of BlackRock by 3.7% during the 4th quarter. National Pension Service now owns 318,324 shares of the asset manager's stock worth $340,715,000 after acquiring an additional 11,425 shares during the last quarter. Finally, Basepoint Wealth LLC bought a new stake in shares of BlackRock during the 4th quarter worth $32,000. 80.69% of the stock is owned by institutional investors.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Several articles framed BlackRock as a strong dividend stock, which can support investor interest in BLK’s income profile and overall quality reputation. Why BlackRock (BLK) is a Great Dividend Stock Right Now
• Positive Sentiment: BlackRock’s recent earnings strength remains a backdrop for the stock, with the company having reported better-than-expected EPS and revenue in its latest quarter. This reinforces confidence in the firm’s fundamentals. BlackRock Scales Back Equities After ‘Generational’ Earnings
• Neutral Sentiment: BlackRock is trimming stock exposure in its model portfolios after a strong run in U.S. equities. That suggests a more cautious near-term stance, but it is more of an asset-allocation decision than a direct hit to BLK’s earnings. BlackRock Scales Back Equities After ‘Generational’ Earnings
• Neutral Sentiment: Texas is shifting its Bitcoin reserve from BlackRock’s IBIT ETF to direct custody, but the allocation is small and the move reflects a change in custody preference rather than a broad rejection of BlackRock’s crypto platform. Texas Bitcoin reserve plans shift from ETF to direct custody
• Negative Sentiment: U.S. spot Bitcoin ETFs saw large outflows, and BlackRock’s IBIT accounted for the biggest share of redemptions. That can weigh on sentiment around one of BLK’s most visible growth products. U.S. Bitcoin Spot ETFs Hit by $228M Outflow as IBIT Sees Heavy Exit
• Negative Sentiment: Additional reports said IBIT had near-record outflows as Bitcoin fell below $75,000, suggesting investors are pulling back from the product during the crypto selloff. BlackRock Bitcoin ETF sees near-record outflows as BTC dips below $75K
• Negative Sentiment: Another report described a large single-day withdrawal from a BlackRock ETF, reinforcing concerns that crypto ETF flows are weakening and may be creating short-term pressure on BLK sentiment. Mysterious trader dumps $1B from BlackRock ETF
• Negative Sentiment: BlackRock’s IBIT also saw heavy daily outflows in the latest ETF flow data, which may be contributing to the stock’s softer tone today. Texas Shifts Bitcoin Holdings from ETF to Direct Custody Control

Insider Transactions at BlackRock

In other BlackRock news, 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 transaction, the president owned 210,186 shares in the company, valued at approximately $222,082,527.60. The trade was a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the business's 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 completion of 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 position. The SEC filing for this sale provides additional information. 1.92% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BLK shares. JPMorgan Chase & Co. dropped their price objective on shares of BlackRock from $1,269.00 to $1,128.00 and set a "neutral" rating for the company in a report on Monday, April 13th. BMO Capital Markets boosted their price target on shares of BlackRock from $1,200.00 to $1,250.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Jefferies Financial Group lowered their price target on shares of 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. Morgan Stanley boosted their price target on shares of BlackRock from $1,368.00 to $1,393.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. Finally, Barclays boosted their price target on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,269.06.

BlackRock Stock Performance

BlackRock stock opened at $1,045.88 on Friday. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $162.35 billion, a PE ratio of 26.25, a P/E/G ratio of 1.36 and a beta of 1.44. The firm has a fifty day simple moving average of $1,029.75 and a two-hundred day simple moving average of $1,053.69. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94.

BlackRock (NYSE:BLK - Get Free Report) last posted 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 14.74%. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the firm posted $9.64 earnings per share. The firm's revenue for the quarter was up 27.0% on a year-over-year basis. Research analysts expect that BlackRock will post 52.8 EPS for the current year.

BlackRock Announces Dividend

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

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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