Xponance LLC Buys 1,343 Shares of BlackRock $BLK

Key Points

• Xponance LLC increased its BlackRock stake by 6.4% in the fourth quarter, buying 1,343 additional shares and bringing its total holdings to 22,340 shares valued at about $23.9 million.
• BlackRock reported stronger-than-expected quarterly results, with EPS of $12.53 and revenue of $6.70 billion, both above analyst estimates. Revenue rose 27% year over year, and analysts now expect full-year EPS of 52.8.
• The company declared a quarterly dividend of $5.73 per share, payable June 23, implying an annualized dividend of $22.92 and a yield of about 2.3%. Analysts remain broadly positive, with an average rating of “Moderate Buy” and an average price target of $1,264.61.

Xponance LLC lifted its stake in BlackRock (NYSE:BLK - Free Report) by 6.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,340 shares of the asset manager's stock after purchasing an additional 1,343 shares during the period. Xponance LLC's holdings in BlackRock were worth $23,911,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Canopy Partners LLC boosted its position in shares of BlackRock by 4.2% in the 4th quarter. Canopy Partners LLC now owns 1,400 shares of the asset manager's stock worth $1,498,000 after purchasing an additional 57 shares during the last quarter. Wescott Financial Advisory Group LLC bought a new position in shares of BlackRock in the 4th quarter worth $231,000. SmartHarvest Portfolios LLC bought a new position in shares of BlackRock in the 4th quarter worth $724,000. Lyell Wealth Management LP boosted its position in shares of BlackRock by 6.1% in the 4th quarter. Lyell Wealth Management LP now owns 8,302 shares of the asset manager's stock worth $8,886,000 after purchasing an additional 474 shares during the last quarter. Finally, Gateway Wealth Partners LLC boosted its position in shares of BlackRock by 21.1% in the 4th quarter. Gateway Wealth Partners LLC now owns 322 shares of the asset manager's stock worth $345,000 after purchasing an additional 56 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,017.36 on Friday. The firm has a market cap of $157.93 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 1.32 and a beta of 1.42. The stock's 50-day moving average is $1,038.39 and its 200-day moving average is $1,051.51. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09.

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, beating analysts' consensus estimates of $12.40 by $0.13. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The company's quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company posted $9.64 earnings per share. Equities analysts predict that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be issued a $5.73 dividend. 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 57.53%.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is preparing to launch a Bitcoin income ETF, BITA, which would use covered calls on IBIT to generate yield and strengthen the firm’s position in crypto investing. BlackRock’s BITA: New Bitcoin ETF Promises Income Generation Through Options Strategy
• Positive Sentiment: BlackRock’s push into space-themed ETFs and tokenized/digital assets suggests the firm is broadening its product lineup in areas with strong investor demand. How Investors Are Reacting To BlackRock (BLK) Expanding Into Space ETFs And Digital Assets
• Positive Sentiment: BlackRock and Fidelity continue to dominate U.S. spot Bitcoin ETF inflows, reinforcing BlackRock’s leadership in the category and supporting fee revenue growth. Bitcoin ETF Market Dominated by BlackRock (BLK) and Fidelity with 90%+ Share
• Neutral Sentiment: BlackRock is reportedly targeting a $5 billion order for SpaceX’s IPO, highlighting its access to major deals but not directly changing near-term fundamentals. BlackRock seeks to buy at least $5 billion in SpaceX IPO shares, WSJ reports
• Neutral Sentiment: BlackRock’s caution on India bond inflows reflects macro risks such as oil prices and currency hedging costs, but this is more of a portfolio note than a direct earnings driver. BlackRock says oil, FX risks loom over India's bond inflow push
• Negative Sentiment: On-chain reports said BlackRock-linked wallets moved large amounts of Bitcoin and Ethereum to exchanges, which traders may view as a bearish sign for crypto prices and related sentiment. BlackRock Moves $159M in Bitcoin and Ethereum to Coinbase Prime and Binance as ETF Outflows Continue
• Negative Sentiment: BlackRock’s crypto portfolio reportedly fell by more than $12 billion in early June, which could weigh on sentiment around its digital-asset exposure. BlackRock crypto portfolio falls by over $12 billion in early June

Wall Street Analyst Weigh In

BLK has been the topic of several recent analyst reports. Barclays lifted their target price on BlackRock from $1,290.00 to $1,310.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Keefe, Bruyette & Woods lifted 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. Weiss Ratings upgraded BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. BMO Capital Markets lifted their target price on BlackRock from $1,200.00 to $1,250.00 and gave the stock an "outperform" rating in a report on Monday, April 20th. Finally, The Goldman Sachs Group lifted their target price on BlackRock from $1,181.00 to $1,313.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,264.61.

Insider Transactions at BlackRock

In related news, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction dated 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 directly owned 230,516 shares in the company, valued at approximately $242,168,583.80. This represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.92% of the company's stock.

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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