TD Asset Management Inc Sells 1,873 Shares of BlackRock $BLK

Key Points

• TD Asset Management trimmed its BlackRock stake by 2.9% in the fourth quarter, selling 1,873 shares and leaving it with 61,669 shares valued at about $66.0 million.
• Wall Street sentiment remains constructive: multiple analysts reiterated or raised targets, and MarketBeat shows BlackRock with an average rating of Moderate Buy and a consensus price target of $1,269.06.
• BlackRock reported strong quarterly results, with EPS of $12.53 and revenue of $6.70 billion, both above estimates, while the company also announced a quarterly dividend of $5.73 per share.

TD Asset Management Inc lessened its holdings in BlackRock (NYSE:BLK - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,669 shares of the asset manager's stock after selling 1,873 shares during the quarter. TD Asset Management Inc's holdings in BlackRock were worth $66,007,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Shum Financial Group Inc. grew its position in BlackRock by 0.4% in the 4th quarter. Shum Financial Group Inc. now owns 2,183 shares of the asset manager's stock valued at $2,336,000 after purchasing an additional 9 shares during the period. First Bancorp Inc ME grew its position in BlackRock by 2.9% in the 4th quarter. First Bancorp Inc ME now owns 321 shares of the asset manager's stock valued at $344,000 after purchasing an additional 9 shares during the period. Rather & Kittrell Inc. grew its position in BlackRock by 2.1% in the 4th quarter. Rather & Kittrell Inc. now owns 430 shares of the asset manager's stock valued at $461,000 after purchasing an additional 9 shares during the period. Oakworth Capital Inc. grew its position in BlackRock by 1.2% in the 4th quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager's stock valued at $808,000 after purchasing an additional 9 shares during the period. Finally, Tortoise Investment Management LLC grew its position in BlackRock by 23.8% in the 3rd quarter. Tortoise Investment Management LLC now owns 52 shares of the asset manager's stock valued at $61,000 after purchasing an additional 10 shares during the period. Institutional investors own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BLK shares. Weiss Ratings raised shares of BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 13th. Barclays lifted their price target on shares of BlackRock from $1,290.00 to $1,310.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. Evercore reissued an "outperform" rating and issued a $1,220.00 price target on shares of BlackRock in a research report on Wednesday, April 15th. UBS Group lifted their price target on shares of BlackRock from $1,235.00 to $1,270.00 and gave the company a "buy" rating in a research report on Wednesday, April 15th. Finally, Jefferies Financial Group reduced their price target on shares of BlackRock from $1,351.00 to $1,199.00 and set a "buy" rating for the company in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned 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 an average target price of $1,269.06.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 33,900 shares of BlackRock 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 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 at this hyperlink. Also, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the sale, the president owned 210,186 shares in the company, valued at $222,082,527.60. The trade was a 3.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.92% of the company's stock.

BlackRock Price Performance

BLK opened at $996.54 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09. The company has a market capitalization of $154.70 billion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 1.33 and a beta of 1.42. The firm's fifty day moving average price is $1,033.61 and its two-hundred day moving average price is $1,051.36. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The business's revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.64 EPS. As a group, analysts anticipate that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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 paid a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, June 5th. BlackRock's payout ratio is presently 57.53%.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) reported its first daily inflow in 13 days, bringing in $47.66 million and ending a recent streak of outflows. That suggests at least some stabilization in one of BlackRock’s most-watched ETF products. BlackRock Records First Bitcoin ETF Inflow in 13 Days
• Positive Sentiment: BlackRock executives sounded constructive on the macro backdrop, with commentary on a solid U.S. jobs report, AI-driven market trends, and the Fed’s likely patience on rates. Softer rate-hike expectations can support risk assets and asset-manager sentiment. BlackRock's Rieder Talks Jobs Report, AI and Markets
• Positive Sentiment: BlackRock disclosed that its combined stake in Orion Corporation rose above 5%, highlighting ongoing portfolio activity and continued influence as a major global shareholder. Orion Corporation Disclosure Under Chapter 9 Section 10 of the Securities Market Act (BlackRock, Inc.)
• Neutral Sentiment: One analyst write-up said BlackRock’s fair value estimate was trimmed only slightly, pointing to mixed Street views rather than a major shift in fundamentals. Why The Narrative Around BlackRock (BLK) Is Shifting After Mixed Analyst Target Resets
• Neutral Sentiment: BlackRock’s portfolio manager Jeffrey Rosenberg said the Fed is not in a hurry to raise rates, reinforcing the view that policy may remain supportive for markets, though the comment itself is not company-specific. Fed Is In No Hurry To Raise Rates, BlackRock's Rosenberg Says
• Negative Sentiment: BlackRock was also included in a sector-wide selloff tied to redemption concerns around Cliffwater’s Corporate Lending Fund, which raised fresh worries about liquidity in alternative credit products. Alternative Managers Shares Slip as Cliffwater Redemption Fears Mount
• Negative Sentiment: Broader crypto headlines remain a headwind: Bitcoin ETFs saw large outflows over the prior 13 days, and BlackRock’s IBIT was cited as a major contributor to the pressure, which can weigh on sentiment toward BLK’s ETF growth story. Bitcoin ETFs Lose $4.4B as Outflows Hit 13-Day Record Run

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.

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