Xponance LLC Has $23.91 Million Stock Position in BlackRock $BLK

Xponance LLC lifted its stake in BlackRock (NYSE:BLK) by 6.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 22,340 shares of the asset manager’s stock after buying an additional 1,343 shares during the period. Xponance LLC’s holdings in BlackRock were worth $23,911,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Canopy Partners LLC increased its position in BlackRock by 4.2% during the fourth quarter. Canopy Partners LLC now owns 1,400 shares of the asset manager’s stock worth $1,498,000 after buying an additional 57 shares during the last quarter. Wescott Financial Advisory Group LLC acquired a new position in BlackRock during the fourth quarter worth approximately $231,000. SmartHarvest Portfolios LLC acquired a new position in BlackRock during the fourth quarter worth approximately $724,000. Lyell Wealth Management LP increased its position in BlackRock by 6.1% during the fourth quarter. Lyell Wealth Management LP now owns 8,302 shares of the asset manager’s stock worth $8,886,000 after buying an additional 474 shares during the last quarter. Finally, Gateway Wealth Partners LLC increased its position in BlackRock by 21.1% during the fourth quarter. Gateway Wealth Partners LLC now owns 322 shares of the asset manager’s stock worth $345,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Up 0.7%

Shares of NYSE:BLK opened at $1,017.36 on Friday. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94. The stock has a market cap of $157.93 billion, a PE ratio of 25.54, a P/E/G ratio of 1.32 and a beta of 1.42. The business has a 50 day moving average of $1,038.39 and a 200-day moving average of $1,051.51. 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) last issued 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. 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 analysts’ expectations of $6.56 billion. During the same quarter in the previous year, the company posted $9.64 earnings per share. The business’s revenue was up 27.0% on a year-over-year basis. As a group, equities research analysts forecast that BlackRock will post 52.8 earnings per share for the current year.

BlackRock Announces Dividend

The business 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. This represents a $22.92 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, June 5th. BlackRock’s payout ratio is 57.53%.

Analysts Set New Price Targets

A number of brokerages have weighed in on BLK. Weiss Ratings raised BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. UBS Group boosted 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. JPMorgan Chase & Co. lowered 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. Jefferies Financial Group lowered their price target on BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Finally, TD Cowen reduced their price objective 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. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,264.61.

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

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 33,900 shares of the business’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 completion of the sale, the chief executive officer directly owned 230,516 shares in the company, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Robert Kapito sold 8,739 shares of the business’s stock in a transaction that occurred 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 approximately $222,082,527.60. This trade represents 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 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.