Peapack Gladstone Financial Corp Sells 625 Shares of BlackRock $BLK

Peapack Gladstone Financial Corp lessened its holdings in shares of BlackRock (NYSE:BLK) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,697 shares of the asset manager’s stock after selling 625 shares during the period. BlackRock makes up 0.8% of Peapack Gladstone Financial Corp’s portfolio, making the stock its 26th biggest position. Peapack Gladstone Financial Corp’s holdings in BlackRock were worth $66,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc increased its position in shares of BlackRock by 0.8% during the 4th quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager’s stock worth $985,331,000 after purchasing an additional 7,457 shares during the last quarter. Ontario Teachers Pension Plan Board increased its position in shares of BlackRock by 6,347.9% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 42,234 shares of the asset manager’s stock worth $49,239,000 after purchasing an additional 41,579 shares during the last quarter. Sienna Gestion increased its position in shares of BlackRock by 51.5% during the 3rd quarter. Sienna Gestion now owns 22,859 shares of the asset manager’s stock worth $24,299,000 after purchasing an additional 7,773 shares during the last quarter. Sarasin & Partners LLP increased its position 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 last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of BlackRock by 8.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 360,995 shares of the asset manager’s stock worth $420,873,000 after purchasing an additional 29,449 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

BLK opened at $1,045.88 on Monday. The business has a fifty day simple moving average of $1,029.75 and a 200 day simple moving average of $1,053.49. The company has a market capitalization of $162.35 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.36 and a beta of 1.42. BlackRock has a 1 year low of $917.39 and a 1 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) last released its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.40 by $0.13. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The firm’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the company posted $9.64 EPS. Research analysts expect that BlackRock will post 52.8 EPS for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be given a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, June 5th. BlackRock’s dividend payout ratio is presently 57.53%.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 33,900 shares of the business’s 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 completion of the transaction, the chief executive officer owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the business’s 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 transaction, the president directly owned 210,186 shares of the company’s stock, valued at $222,082,527.60. This trade represents a 3.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on BLK shares. Evercore reaffirmed an “outperform” rating and set a $1,220.00 price target on shares of BlackRock in a research report on Wednesday, April 15th. CICC Research boosted their price target on BlackRock from $1,000.00 to $1,250.00 in a research report on Tuesday, February 3rd. Barclays boosted their price target on BlackRock from $1,290.00 to $1,310.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. TD Cowen decreased their target price on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. decreased their target price on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,269.06.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Several articles framed BlackRock as a strong dividend stock, which can support investor interest in BLK’s income profile and overall quality reputation. Why BlackRock (BLK) is a Great Dividend Stock Right Now
• Positive Sentiment: BlackRock’s recent earnings strength remains a backdrop for the stock, with the company having reported better-than-expected EPS and revenue in its latest quarter. This reinforces confidence in the firm’s fundamentals. BlackRock Scales Back Equities After ‘Generational’ Earnings
• Neutral Sentiment: BlackRock is trimming stock exposure in its model portfolios after a strong run in U.S. equities. That suggests a more cautious near-term stance, but it is more of an asset-allocation decision than a direct hit to BLK’s earnings. BlackRock Scales Back Equities After ‘Generational’ Earnings
• Neutral Sentiment: Texas is shifting its Bitcoin reserve from BlackRock’s IBIT ETF to direct custody, but the allocation is small and the move reflects a change in custody preference rather than a broad rejection of BlackRock’s crypto platform. Texas Bitcoin reserve plans shift from ETF to direct custody
• Negative Sentiment: U.S. spot Bitcoin ETFs saw large outflows, and BlackRock’s IBIT accounted for the biggest share of redemptions. That can weigh on sentiment around one of BLK’s most visible growth products. U.S. Bitcoin Spot ETFs Hit by $228M Outflow as IBIT Sees Heavy Exit
• Negative Sentiment: Additional reports said IBIT had near-record outflows as Bitcoin fell below $75,000, suggesting investors are pulling back from the product during the crypto selloff. BlackRock Bitcoin ETF sees near-record outflows as BTC dips below $75K
• Negative Sentiment: Another report described a large single-day withdrawal from a BlackRock ETF, reinforcing concerns that crypto ETF flows are weakening and may be creating short-term pressure on BLK sentiment. Mysterious trader dumps $1B from BlackRock ETF
• Negative Sentiment: BlackRock’s IBIT also saw heavy daily outflows in the latest ETF flow data, which may be contributing to the stock’s softer tone today. Texas Shifts Bitcoin Holdings from ETF to Direct Custody Control

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.