Harbour Investments Inc. Boosts Stock Holdings in BlackRock $BLK

Key Points

• Harbour Investments Inc. increased its BlackRock stake by 180.5% in the fourth quarter, bringing its holdings to 1,801 shares valued at about $1.93 million.
• BlackRock continues to attract heavy institutional ownership, with firms like Vanguard, Capital International Investors, and Oak Harvest also boosting positions; overall, 80.69% of the stock is held by hedge funds and other institutional investors.
• BlackRock reported strong quarterly results, with EPS of $12.53 beating estimates and revenue rising 27% year over year, while also announcing a quarterly dividend of $5.73 per share.

Harbour Investments Inc. grew its position in shares of BlackRock (NYSE:BLK - Free Report) by 180.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,801 shares of the asset manager's stock after purchasing an additional 1,159 shares during the quarter. Harbour Investments Inc.'s holdings in BlackRock were worth $1,928,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of BlackRock by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager's stock valued at $15,051,846,000 after purchasing an additional 221,123 shares in the last quarter. Capital International Investors increased its holdings in shares of BlackRock by 0.6% during the 3rd 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 in the last quarter. Oak Harvest Investment Services increased its holdings in BlackRock by 12,176.1% in the 4th 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 in the last quarter. Blue Owl Capital Holdings LP purchased a new stake in BlackRock in the 4th quarter worth $1,012,487,000. Finally, Legal & General Group Plc increased its holdings in BlackRock by 0.8% in the 4th quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager's stock worth $985,331,000 after acquiring an additional 7,457 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Negative Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) posted near-record outflows as Bitcoin dropped below key levels, signaling weaker demand for one of the firm’s most visible growth products. BlackRock Bitcoin ETF sees near-record outflows as BTC dips below $75K
• Negative Sentiment: Reports of a mysterious trader dumping about $1 billion from a BlackRock ETF and a separate large IBIT selloff reinforced concerns that institutional investors are de-risking crypto exposure. Mysterious trader dumps $1B from BlackRock ETF
• Negative Sentiment: BlackRock’s stock also fell as the broader market advanced, suggesting investors may be rotating out of the name amid short-term crypto-related noise. BlackRock (BLK) Stock Sinks As Market Gains: What You Should Know
• Neutral Sentiment: Outside crypto, BlackRock continues to benefit from scale and strong earnings momentum, with recent quarterly results beating estimates and revenue rising sharply year over year.

BlackRock Price Performance

BlackRock stock opened at $1,046.39 on Friday. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. The firm has a market capitalization of $162.43 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 1.39 and a beta of 1.44. The company has a fifty day simple moving average of $1,028.21 and a 200-day simple moving average of $1,053.75. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34.

BlackRock (NYSE:BLK - Get Free Report) last released 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 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 analyst estimates of $6.56 billion. During the same quarter in the prior year, the firm earned $9.64 earnings per share. The company's revenue for the quarter was up 27.0% compared to the same quarter last year. On average, equities analysts anticipate 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. Stockholders of record on Friday, June 5th will be issued a dividend of $5.73 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.2%. BlackRock's dividend payout ratio is presently 57.53%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. CICC Research boosted their price target on shares of BlackRock from $1,000.00 to $1,250.00 in a report on Tuesday, February 3rd. Weiss Ratings raised shares of BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Keefe, Bruyette & Woods boosted their price target on shares of BlackRock from $1,150.00 to $1,240.00 and gave the stock an "outperform" rating in a report on Wednesday, April 15th. UBS Group boosted their price target on shares of BlackRock from $1,235.00 to $1,270.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Finally, 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 report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,269.06.

Insiders Place Their Bets

In other news, President Robert Kapito sold 8,739 shares of the company's stock in a transaction on 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 completion of the sale, the president owned 210,186 shares of the company's stock, valued at $222,082,527.60. This represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurence Fink sold 33,900 shares of the company's stock in a transaction on Tuesday, April 28th. The stock was 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 directly owned 230,516 shares of the company's stock, valued at $242,168,583.80. The trade was a 12.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.92% of the stock is owned by corporate insiders.

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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