Sepio Capital LP Buys 995 Shares of BlackRock $BLK

Key Points

• Sepio Capital LP increased its BlackRock stake by 20.9% in the fourth quarter, buying 995 additional shares and bringing its total holdings to 5,751 shares valued at about $6.16 million.
• Other hedge funds also made small additions to BlackRock, and institutional investors now own 80.69% of the company’s stock, underscoring broad institutional interest.
• Recent BlackRock developments include continued positive analyst sentiment, a quarterly dividend of $5.73 per share, and strong latest earnings that beat estimates, with revenue up 27% year over year.

Sepio Capital LP lifted its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 20.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,751 shares of the asset manager's stock after purchasing an additional 995 shares during the quarter. Sepio Capital LP's holdings in BlackRock were worth $6,156,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Evolution Wealth Management Inc. acquired a new stake in shares of BlackRock during the fourth quarter worth about $26,000. Birchbrook Inc. acquired a new stake in shares of BlackRock during the fourth quarter worth about $31,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of BlackRock during the fourth quarter worth about $32,000. Basepoint Wealth LLC acquired a new stake in shares of BlackRock during the fourth quarter worth about $32,000. Finally, Goodman Advisory Group LLC acquired a new stake in shares of BlackRock during the third quarter worth about $37,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is expanding its ETF lineup with new thematic products, including a space-focused fund in Europe/UK and a planned income-paying Bitcoin ETF, reinforcing its leadership in fast-growing areas of asset management. How Investors Are Reacting To BlackRock (BLK) Expanding Into Space ETFs And Digital Assets
• Positive Sentiment: Reports that BlackRock is seeking to buy at least $5 billion of SpaceX IPO shares highlight its willingness to back high-profile alternative assets and could support fee-generating opportunities if the deal moves forward. BlackRock seeks to buy at least $5 billion in SpaceX IPO shares, WSJ reports
• Positive Sentiment: BlackRock continues to dominate Bitcoin ETF flows with Fidelity, suggesting its crypto products are capturing the bulk of investor demand in the U.S. spot Bitcoin ETF market. BlackRock and Fidelity Dominate U.S. Bitcoin ETF Flows
• Neutral Sentiment: The Supreme Court’s ruling shielding investment funds from some shareholder lawsuits is broadly supportive for the asset-management industry, though the direct impact on BlackRock is limited. Supreme Court Shields Investment Funds From Shareholder Lawsuits
• Neutral Sentiment: Financial stocks were firmer in afternoon trading, creating a generally supportive backdrop for BlackRock, although the move appears driven by sector rotation rather than company-specific news. Sector Update: Financial Stocks Rise Late Afternoon
• Negative Sentiment: Some coverage noted BlackRock’s crypto portfolio declined by more than $12 billion early in June and that its Bitcoin holdings were sold while Ethereum was accumulated, which could raise questions about near-term digital-asset mark-to-market performance. BlackRock crypto portfolio falls by over $12 billion in early June

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on BlackRock from $1,269.00 to $1,128.00 and set a "neutral" rating on the stock in a research report on Monday, April 13th. The Goldman Sachs Group raised their price target on BlackRock from $1,181.00 to $1,313.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Evercore dropped their price target on BlackRock from $1,220.00 to $1,140.00 and set an "outperform" rating on the stock in a research report on Monday. UBS Group raised their price target on BlackRock from $1,235.00 to $1,270.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Finally, Weiss Ratings raised BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,264.61.

Insider Buying and Selling at BlackRock

In related news, CEO Laurence Fink sold 33,900 shares of the business's stock in a transaction on 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 sale, the chief executive officer directly owned 230,516 shares in the company, valued at $242,168,583.80. The trade was a 12.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Robert Kapito sold 8,739 shares of the business's stock in a transaction on 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 of the company's stock, valued at $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. Insiders own 1.92% of the company's stock.

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,017.36 on Friday. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The stock has a 50 day moving average of $1,038.39 and a 200-day moving average of $1,051.51. The company has a market capitalization of $157.93 billion, a P/E ratio of 25.54, a P/E/G ratio of 1.32 and a beta of 1.42.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping 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 company 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 company posted $9.64 EPS. The firm's revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, equities research analysts predict that BlackRock will post 52.8 EPS for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 5th will be paid a $5.73 dividend. The ex-dividend date is Friday, June 5th. This represents a $22.92 annualized dividend and a yield of 2.3%. BlackRock's payout ratio is 57.53%.

About BlackRock

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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