Rockefeller Capital Management L.P. Acquires 53,657 Shares of BlackRock $BLK

Rockefeller Capital Management L.P. grew its holdings in shares of BlackRock (NYSE:BLK) by 32.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 216,566 shares of the asset manager’s stock after buying an additional 53,657 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in BlackRock were worth $231,800,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its holdings in shares of BlackRock by 0.8% in the 4th quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager’s stock worth $985,331,000 after acquiring an additional 7,457 shares during the last quarter. Sarasin & Partners LLP boosted its stake in shares of BlackRock by 10.6% during the 4th quarter. Sarasin & Partners LLP now owns 251,856 shares of the asset manager’s stock worth $269,572,000 after purchasing an additional 24,196 shares during the period. Sienna Gestion grew its holdings in BlackRock by 51.5% during the 3rd quarter. Sienna Gestion now owns 22,859 shares of the asset manager’s stock valued at $24,299,000 after purchasing an additional 7,773 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in BlackRock during the 3rd quarter valued at about $3,791,000. Finally, TCV Trust & Wealth Management Inc. purchased a new stake in BlackRock in the 4th quarter worth about $20,279,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s spot Bitcoin ETF continues to act as a gateway for new investors into traditional finance, with Jay Jacobs saying roughly three-quarters of IBIT holders had never owned an ETF before. That supports the case for continued asset-gathering strength in BlackRock’s ETF franchise. Article Title
• Positive Sentiment: BlackRock filed for an iShares Bitcoin Premium Income ETF, a covered-call product aimed at income seekers. The move suggests BlackRock is broadening its crypto ETF lineup and could attract more fee-generating inflows. Article Title
• Positive Sentiment: BlackRock Canada announced June cash distributions for multiple iShares ETFs, reinforcing the company’s large and steady ETF distribution machine, which can be viewed as a sign of recurring product demand. Article Title
• Neutral Sentiment: BlackRock was also highlighted as one of the largest Bitcoin holders, with Arkham data placing it ahead of Binance in BTC count. This reflects the scale of its crypto exposure, but it is more descriptive than fundamentally material on its own. Article Title
• Neutral Sentiment: Coverage comparing BlackRock with Blackstone and news about BlackRock entering the active high-yield ETF arena are broadly supportive of its product expansion, but neither article points to an immediate catalyst for the stock. Article Title
• Negative Sentiment: One headline noted BlackRock “dumps 1,000 Bitcoin” as BTC struggled to hold the $60,000 level. If sustained, weaker crypto prices could dampen sentiment around BlackRock’s Bitcoin-linked products, though the impact on BLK itself is likely limited. Article Title

Insiders Place Their Bets

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 completion of the sale, the president directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. 1.92% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on BLK. Barclays raised their price objective on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. UBS Group increased their price target on BlackRock from $1,235.00 to $1,270.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Weiss Ratings raised BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. The Goldman Sachs Group boosted their price objective on BlackRock from $1,181.00 to $1,313.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Finally, Jefferies Financial Group cut their price objective 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. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,264.61.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $1,051.51 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. The firm has a market cap of $163.23 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.37 and a beta of 1.42. The firm’s 50 day simple moving average is $1,047.92 and its 200-day simple moving average is $1,051.90. BlackRock has a one year low of $917.39 and a one year high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.40 by $0.13. The company had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.BlackRock’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.64 earnings per share. As a group, equities analysts predict that BlackRock will post 52.8 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be issued a $5.73 dividend. This represents a $22.92 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, June 5th. BlackRock’s dividend payout ratio is currently 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.