Nomura Asset Management Co. Ltd. Purchases 2,522 Shares of BlackRock $BLK

Key Points

• Nomura Asset Management increased its BlackRock stake by 3.4% in the fourth quarter, buying 2,522 additional shares and bringing its total to 77,067 shares valued at about $82.5 million.
• Several analysts remain bullish on BlackRock, with recent price-target increases from Goldman Sachs, UBS, and others. The stock currently carries a consensus rating of Moderate Buy with an average target price of $1,269.06.
• BlackRock recently beat earnings expectations, reporting $12.53 EPS on revenue of $6.70 billion, while also announcing a quarterly dividend of $5.73 per share, or $22.92 annually, for a 2.2% yield.

Nomura Asset Management Co. Ltd. lifted its position in shares of BlackRock (NYSE:BLK - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,067 shares of the asset manager's stock after acquiring an additional 2,522 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in BlackRock were worth $82,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after purchasing an additional 296 shares during the period. Bison Wealth LLC grew its stake in shares of BlackRock by 1.6% during the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock worth $1,078,000 after purchasing an additional 17 shares during the period. Schnieders Capital Management LLC. acquired a new stake in shares of BlackRock during the second quarter worth $259,000. Nebula Research & Development LLC acquired a new stake in shares of BlackRock during the second quarter worth $548,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of BlackRock during the second quarter worth $98,000. Institutional investors own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price objective on BlackRock from $1,181.00 to $1,313.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Weiss Ratings raised BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 13th. CICC Research lifted their price objective on BlackRock from $1,000.00 to $1,250.00 in a research note on Tuesday, February 3rd. Jefferies Financial Group decreased their price objective on 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. Finally, UBS Group boosted their target price on BlackRock from $1,235.00 to $1,270.00 and gave the company a "buy" rating in a research note on Wednesday, April 15th. One 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,269.06.

Key BlackRock News

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, 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 completion of the transaction, the chief executive officer directly owned 230,516 shares of the company's stock, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the president 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. Additional details regarding this sale are available in the official SEC disclosure. 1.92% of the stock is currently owned by insiders.

BlackRock Stock Down 0.1%

NYSE:BLK opened at $1,045.88 on Friday. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94. 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 cap of $162.36 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.36 and a beta of 1.44. The stock has a 50-day moving average price of $1,029.75 and a two-hundred day moving average price of $1,053.69.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results 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 return on equity of 14.74% and a net margin of 24.40%.The firm had revenue of $6.70 billion during the quarter, compared to analysts' expectations of $6.56 billion. During the same period in the previous year, the firm earned $9.64 earnings per share. The company's revenue was up 27.0% on a year-over-year basis. As a group, equities analysts expect that BlackRock will post 52.8 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be paid a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, June 5th. 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.

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.