Evexia Wealth LLC Buys 1,301 Shares of BlackRock $BLK

Key Points

• Evexia Wealth LLC increased its BlackRock stake by 10.5% in the first quarter, buying 1,301 more shares and bringing its total to 13,708 shares worth about $14.0 million. BlackRock is now its 7th largest holding, representing 3.9% of the portfolio.
• Institutional ownership remains very high, with about 80.69% of BlackRock shares held by institutional investors and hedge funds. Several other firms also recently initiated new positions in the stock.
• BlackRock recently reported strong fundamentals, including first-quarter EPS of $12.53 versus the $12.40 consensus and revenue of $6.70 billion, up 27% year over year. The company also declared a quarterly dividend of $5.73 per share and analysts currently rate the stock a “Moderate Buy.”

Evexia Wealth LLC lifted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 10.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,708 shares of the asset manager's stock after acquiring an additional 1,301 shares during the quarter. BlackRock makes up 3.9% of Evexia Wealth LLC's holdings, making the stock its 7th biggest holding. Evexia Wealth LLC's holdings in BlackRock were worth $14,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Evolution Wealth Management Inc. acquired a new stake in BlackRock during the 4th quarter valued at approximately $26,000. Birchbrook Inc. bought a new position in BlackRock during the 4th quarter worth approximately $31,000. LFA Lugano Financial Advisors SA acquired a new position in shares of BlackRock in the 4th quarter worth approximately $32,000. Basepoint Wealth LLC acquired a new position in shares of BlackRock in the 4th quarter worth approximately $32,000. Finally, Swiss RE Ltd. bought a new stake in shares of BlackRock in the 4th quarter valued at $33,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about BlackRock

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

Insider Buying and Selling at BlackRock

In related 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 sale, the chief executive officer directly owned 230,516 shares in the company, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the company's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the sale, the president directly owned 210,186 shares in the company, valued at approximately $222,082,527.60. This trade represents a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.92% of the stock is currently owned by corporate insiders.

BlackRock Trading Up 0.1%

NYSE:BLK opened at $1,051.51 on Monday. 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 stock has a market capitalization of $163.23 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.37 and a beta of 1.42. The firm's 50 day moving average is $1,047.92 and its 200 day moving average is $1,051.99. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the company earned $9.64 earnings per share. BlackRock's revenue was up 27.0% compared to the same quarter last year. Sell-side analysts expect that BlackRock will post 52.8 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be given 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 currently 57.53%.

Analysts Set New Price Targets

Several equities research analysts recently commented on BLK shares. TD Cowen cut their target price on 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. Weiss Ratings upgraded BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. The Goldman Sachs Group boosted their price target on BlackRock from $1,181.00 to $1,313.00 and gave the company a "buy" rating in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods increased their price target on BlackRock from $1,150.00 to $1,240.00 and gave the stock an "outperform" rating in a report on Wednesday, April 15th. Finally, Barclays raised their price objective on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. One research 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. Based on data from MarketBeat.com, the stock presently 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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