Manning & Napier Advisors LLC Has $103.28 Million Holdings in BlackRock $BLK

Key Points

• Manning & Napier Advisors trimmed its BlackRock stake by 6.7% in the first quarter, but still held 107,392 shares valued at about $103.28 million, making BLK its 17th-largest position.
• Wall Street sentiment remains constructive: several analysts raised price targets, and MarketBeat’s summary shows a Moderate Buy consensus with an average target price of $1,273.33.
• BlackRock reported strong quarterly results, with EPS of $12.53 topping estimates and revenue rising 27% year over year to $6.70 billion; the company also paid a quarterly dividend of $5.73 per share.

Manning & Napier Advisors LLC lessened its position in BlackRock (NYSE:BLK - Free Report) by 6.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,392 shares of the asset manager's stock after selling 7,746 shares during the quarter. BlackRock comprises about 1.5% of Manning & Napier Advisors LLC's investment portfolio, making the stock its 17th biggest position. Manning & Napier Advisors LLC owned about 0.07% of BlackRock worth $103,280,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BLK. Mosaic Family Wealth Partners LLC acquired a new stake in BlackRock in the 1st quarter valued at approximately $389,000. Stronghold Wealth Management L.L.C. lifted its holdings in shares of BlackRock by 2.9% during the first quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager's stock worth $345,000 after buying an additional 10 shares during the last quarter. Money Concepts Capital Corp lifted its holdings in shares of BlackRock by 5.5% during the first quarter. Money Concepts Capital Corp now owns 1,192 shares of the asset manager's stock worth $1,147,000 after buying an additional 62 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its position in shares of BlackRock by 2.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 46,558 shares of the asset manager's stock valued at $44,530,000 after acquiring an additional 1,045 shares during the period. Finally, CFS Investment Advisory Services LLC grew its stake in shares of BlackRock by 15.8% in the first quarter. CFS Investment Advisory Services LLC now owns 308 shares of the asset manager's stock worth $324,000 after acquiring an additional 42 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BLK shares. BNP Paribas Exane boosted their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 23rd. Jefferies Financial Group decreased their price target on shares of BlackRock from $1,351.00 to $1,199.00 and set a "buy" rating on the stock in a research report on Wednesday, April 8th. The Goldman Sachs Group boosted their price objective on shares of BlackRock from $1,181.00 to $1,313.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Keefe, Bruyette & Woods upped their price objective on shares of BlackRock from $1,240.00 to $1,275.00 and gave the company an "outperform" rating in a research report on Friday. Finally, JPMorgan Chase & Co. reduced their target price on shares of BlackRock from $1,269.00 to $1,128.00 and set a "neutral" rating for the company in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, BlackRock currently has an average rating of "Moderate Buy" and an average target price of $1,273.33.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on BlackRock and maintained an outperform rating, signaling confidence ahead of earnings.
• Positive Sentiment: Barclays lifted its price target on BlackRock to $1,340 and kept an overweight rating, reflecting expectations for continued business momentum.
• Positive Sentiment: Analysts expect Q2 results to benefit from ETF inflows, higher market levels, and growth in assets under management, which could support earnings and revenue.
• Neutral Sentiment: BlackRock’s newer crypto-related products, including its Bitcoin income ETF and BUIDL tokenized treasury fund, are attracting attention but are not yet a major earnings driver.
• Neutral Sentiment: Broad crypto ETF outflows were reported, though BlackRock’s IBIT was flat, limiting direct negative impact on the company.

Insider Transactions at BlackRock

In other BlackRock news, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction that occurred on Monday, April 27th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laurence Fink sold 33,900 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the completion of the sale, the chief executive officer owned 230,516 shares in the company, valued at approximately $242,168,583.80. This represents a 12.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.92% of the stock is owned by company insiders.

BlackRock Stock Performance

BLK traded up $16.50 during trading on Friday, reaching $1,036.18. 595,032 shares of the company's stock were exchanged, compared to its average volume of 794,052. The company has a market capitalization of $160.85 billion, a P/E ratio of 26.01, a PEG ratio of 1.30 and a beta of 1.43. 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 business has a 50 day moving average price of $1,034.39 and a 200 day moving average price of $1,044.04. BlackRock has a fifty-two week low of $917.39 and a fifty-two week 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 (EPS) for the quarter, beating 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 company had revenue of $6.70 billion during the quarter, compared to analysts' expectations of $6.56 billion. During the same quarter in the prior year, the company posted $9.64 EPS. The business's revenue was up 27.0% on a year-over-year basis. As a group, analysts predict that BlackRock will post 53.9 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th were paid a dividend of $5.73 per share. The ex-dividend date was Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. BlackRock's dividend payout ratio (DPR) is currently 57.53%.

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.

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock (NYSE:BLK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.