Franklin Resources Inc. Raises Stake in BlackRock $BLK

Franklin Resources Inc. boosted its stake in BlackRock (NYSE:BLK) by 13.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,070,468 shares of the asset manager’s stock after acquiring an additional 253,314 shares during the period. Franklin Resources Inc.’s holdings in BlackRock were worth $2,216,105,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in BlackRock by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock valued at $15,051,846,000 after acquiring an additional 221,123 shares during the period. Capital Research Global Investors raised its stake in shares of BlackRock by 0.3% during the fourth quarter. Capital Research Global Investors now owns 3,838,937 shares of the asset manager’s stock worth $4,108,968,000 after purchasing an additional 12,019 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of BlackRock by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,167,460 shares of the asset manager’s stock worth $3,374,394,000 after purchasing an additional 27,640 shares during the last quarter. Norges Bank purchased a new stake in shares of BlackRock during the fourth quarter worth approximately $2,742,680,000. Finally, Capital International Investors raised its stake in shares of BlackRock by 7.4% during the fourth quarter. Capital International Investors now owns 1,976,762 shares of the asset manager’s stock worth $2,116,082,000 after purchasing an additional 135,674 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group upped their price target on BlackRock from $1,235.00 to $1,270.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Jefferies Financial Group cut their price target on BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. TD Cowen cut their price target on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. Morgan Stanley upped their price target on BlackRock from $1,368.00 to $1,393.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. cut their price target on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. One investment 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 company. According to data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,269.06.

BlackRock Stock Performance

NYSE BLK opened at $996.54 on Monday. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $1,033.61 and its two-hundred day moving average is $1,051.55. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94. The stock has a market capitalization of $154.69 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.30 and a beta of 1.42.

BlackRock (NYSE:BLK) last released its earnings results 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. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The company had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the previous year, the firm posted $9.64 EPS. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. Research analysts expect that BlackRock will post 52.8 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be given a dividend of $5.73 per share. The ex-dividend date is Friday, June 5th. This represents a $22.92 annualized dividend and a yield of 2.3%. BlackRock’s payout ratio is presently 57.53%.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s iShares Bitcoin Trust (IBIT) reported its first daily inflow in 13 days, bringing in $47.66 million and ending a recent streak of outflows. That suggests at least some stabilization in one of BlackRock’s most-watched ETF products. BlackRock Records First Bitcoin ETF Inflow in 13 Days
• Positive Sentiment: BlackRock executives sounded constructive on the macro backdrop, with commentary on a solid U.S. jobs report, AI-driven market trends, and the Fed’s likely patience on rates. Softer rate-hike expectations can support risk assets and asset-manager sentiment. BlackRock’s Rieder Talks Jobs Report, AI and Markets
• Positive Sentiment: BlackRock disclosed that its combined stake in Orion Corporation rose above 5%, highlighting ongoing portfolio activity and continued influence as a major global shareholder. Orion Corporation Disclosure Under Chapter 9 Section 10 of the Securities Market Act (BlackRock, Inc.)
• Neutral Sentiment: One analyst write-up said BlackRock’s fair value estimate was trimmed only slightly, pointing to mixed Street views rather than a major shift in fundamentals. Why The Narrative Around BlackRock (BLK) Is Shifting After Mixed Analyst Target Resets
• Neutral Sentiment: BlackRock’s portfolio manager Jeffrey Rosenberg said the Fed is not in a hurry to raise rates, reinforcing the view that policy may remain supportive for markets, though the comment itself is not company-specific. Fed Is In No Hurry To Raise Rates, BlackRock’s Rosenberg Says
• Negative Sentiment: BlackRock was also included in a sector-wide selloff tied to redemption concerns around Cliffwater’s Corporate Lending Fund, which raised fresh worries about liquidity in alternative credit products. Alternative Managers Shares Slip as Cliffwater Redemption Fears Mount
• Negative Sentiment: Broader crypto headlines remain a headwind: Bitcoin ETFs saw large outflows over the prior 13 days, and BlackRock’s IBIT was cited as a major contributor to the pressure, which can weigh on sentiment toward BLK’s ETF growth story. Bitcoin ETFs Lose $4.4B as Outflows Hit 13-Day Record Run

Insider Activity at BlackRock

In related news, 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 sale, the chief executive officer owned 230,516 shares in the company, valued at $242,168,583.80. This represents a 12.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Robert Kapito sold 8,739 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the president owned 210,186 shares in the company, valued at approximately $222,082,527.60. This represents a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.92% of the company’s stock.

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.