Tredje AP fonden Buys New Position in BlackRock $BLK

Key Points

• Tredje AP fonden opened a new position in BlackRock during the fourth quarter, buying 51,034 shares valued at about $54.6 million.
• BlackRock also saw notable insider selling, including CEO Laurence Fink’s sale of 33,900 shares; insiders have sold $47.7 million worth of stock over the last three months.
• Analysts remain generally positive on BLK, with an average rating of Moderate Buy and an average target price of about $1,269, while the company’s latest quarterly results beat expectations on both EPS and revenue.

Tredje AP fonden bought a new stake in shares of BlackRock (NYSE:BLK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 51,034 shares of the asset manager's stock, valued at approximately $54,624,000.

Several other large investors have also bought and sold shares of the company. Birchbrook Inc. acquired a new position in shares of BlackRock in the 4th quarter valued at $31,000. LFA Lugano Financial Advisors SA acquired a new stake in BlackRock during the 4th quarter worth about $32,000. Hopwood Financial Services Inc. boosted its position in BlackRock by 866.7% during the 3rd quarter. Hopwood Financial Services Inc. now owns 29 shares of the asset manager's stock worth $34,000 after acquiring an additional 26 shares during the period. Collier Financial acquired a new stake in shares of BlackRock during the 3rd quarter valued at about $36,000. Finally, Goodman Advisory Group LLC acquired a new stake in shares of BlackRock during the 3rd quarter valued at about $37,000. Institutional investors own 80.69% of the company's stock.

Insiders Place Their Bets

In other news, Director Stephen Cohen sold 225 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $1,069.56, for a total transaction of $240,651.00. Following the completion of the transaction, the director directly owned 5,661 shares in the company, valued at $6,054,779.16. The trade was a 3.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer owned 230,516 shares of the company's stock, valued at approximately $242,168,583.80. This trade represents a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 45,249 shares of company stock valued at $47,671,714 in the last three months. 1.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BLK shares. TD Cowen reduced their price target on BlackRock from $1,238.00 to $1,105.00 and set a "hold" rating for the company in a report on Thursday, April 9th. BMO Capital Markets lifted their price target on BlackRock from $1,200.00 to $1,250.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Morgan Stanley boosted their target price on BlackRock from $1,368.00 to $1,393.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Weiss Ratings upgraded BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Finally, Keefe, Bruyette & Woods boosted their target price on BlackRock from $1,150.00 to $1,240.00 and gave the stock an "outperform" rating in a report on Wednesday, April 15th. One research 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 company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,269.06.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock reportedly struck a €15 billion partnership with Citi to expand private European lending, which could deepen its presence in private credit and generate more fee revenue. Citi strikes €15bn partnership with BlackRock for private European lending
• Positive Sentiment: A wealth manager bought $5.8 million of BlackRock’s Active Country Rotation ETF, a small but favorable signal for continued demand for BlackRock-managed products. This Wealth Manager Just Bet $5.8 Million on BlackRock's Active Country Rotation ETF
• Positive Sentiment: BlackRock is also being linked to a potential multi-billion-dollar investment in SpaceX’s IPO, which highlights its ability to participate in marquee capital-markets opportunities. BlackRock is said to weigh investing billions in SpaceX IPO
• Neutral Sentiment: BlackRock disclosed it crossed above a 3% stake in Fagron, reflecting active portfolio positioning but not a major stock-moving event by itself. Disclosure of transparency notifications from BlackRock, Inc.
• Neutral Sentiment: Commentary around BlackRock ETFs and long-term valuation suggests ongoing investor debate about the stock’s upside, but nothing conclusive enough to move shares on its own. Vanguard’s VOO vs. BlackRock’s DGRO: One ETF Offers Better Upside, Says Investor
• Negative Sentiment: BlackRock’s private credit fund is facing DOJ scrutiny over valuation practices, adding regulatory and reputational risk to an important growth area. BlackRock's Troubled Private Credit Fund Draws DOJ Scrutiny
• Negative Sentiment: Separate reports said the Manhattan U.S. Attorney’s office is seeking information on BlackRock TCP Capital Corp., reinforcing concern that private-credit oversight could become a larger issue. BlackRock private credit fund’s valuations are probed by DOJ
• Negative Sentiment: BlackRock’s Bitcoin ETF saw accelerated selling after weeks of inflows, which may weigh on sentiment around its crypto-linked assets under management. BlackRock accelerates Bitcoin selloff amid bearish sentiment
• Negative Sentiment: BlackRock reportedly capped withdrawals from one of its private credit funds, a sign of stress in the asset class that may raise investor caution. The Asset Manager Whose Private Credit Fund Just Capped Withdrawals. Should BlackRock Investors Worry?
• Negative Sentiment: Harvard reportedly sold its entire Ethereum stake after previously buying BlackRock’s Ethereum ETF, a data point that could suggest softer enthusiasm for the product category. Harvard sold off its entire $87 million Ethereum stake just one quarter after buying it

BlackRock Stock Up 0.3%

Shares of BLK stock opened at $1,085.60 on Tuesday. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The firm has a market cap of $168.52 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44. The stock has a 50 day moving average of $1,010.27 and a 200-day moving average of $1,054.76. 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 issued its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping 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 company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the company earned $9.64 earnings per share. The company's quarterly revenue was up 27.0% compared to the same quarter last year. On average, equities analysts predict that BlackRock will post 52.77 EPS for the current year.

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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