TritonPoint Partners LLC Invests $741,000 in BlackRock $BLK

TritonPoint Partners LLC acquired a new position in BlackRock (NYSE:BLK) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 692 shares of the asset manager’s stock, valued at approximately $741,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC increased its holdings in shares of BlackRock by 1.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 22,427 shares of the asset manager’s stock worth $24,005,000 after buying an additional 307 shares during the period. Venture Visionary Partners LLC increased its holdings in shares of BlackRock by 3.7% in the fourth quarter. Venture Visionary Partners LLC now owns 12,706 shares of the asset manager’s stock worth $13,634,000 after buying an additional 449 shares during the period. PB Investment Partners L.P. boosted its position in BlackRock by 5.1% during the 4th quarter. PB Investment Partners L.P. now owns 14,221 shares of the asset manager’s stock valued at $15,221,000 after buying an additional 692 shares during the period. South Plains Financial Inc. grew its holdings in BlackRock by 3.2% in the 4th quarter. South Plains Financial Inc. now owns 1,277 shares of the asset manager’s stock worth $1,367,000 after acquiring an additional 39 shares during the last quarter. Finally, MML Investors Services LLC grew its holdings in BlackRock by 4.7% in the 4th quarter. MML Investors Services LLC now owns 72,458 shares of the asset manager’s stock worth $77,555,000 after acquiring an additional 3,241 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Negative Sentiment: BlackRock’s private-credit funds saw redemption requests far above the cap, and the firm is again limiting withdrawals, which could weigh on sentiment around its alternatives business. Reuters article
• Negative Sentiment: Bloomberg and other reports said BlackRock’s HPS/HLEND private-credit vehicles capped redemptions after investors sought to withdraw more than 5%, underscoring continued pressure in the funds. Bloomberg article
• Neutral Sentiment: BlackRock also reported buying additional Bitcoin and Ethereum holdings, and it is preparing an income-focused Bitcoin ETF, highlighting continued growth in its digital-asset franchise. Finbold article
• Neutral Sentiment: Reports that BlackRock may seek about $5 billion of SpaceX IPO shares point to strong client demand and product breadth, but this is not as immediate a driver as the redemption headlines. Reuters article

BlackRock Stock Down 0.1%

Shares of NYSE:BLK opened at $1,031.45 on Monday. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94. The company has a market cap of $160.12 billion, a PE ratio of 25.89, a P/E/G ratio of 1.34 and a beta of 1.42. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09. The stock’s 50-day moving average is $1,039.86 and its 200 day moving average is $1,051.60.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the business earned $9.64 EPS. BlackRock’s revenue was up 27.0% compared to the same quarter last year. Sell-side analysts anticipate that BlackRock will post 52.8 EPS for the current year.

BlackRock Dividend Announcement

The company also recently disclosed 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. This represents a $22.92 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, June 5th. BlackRock’s payout ratio is presently 57.53%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BLK. UBS Group upped their price objective on shares of BlackRock from $1,235.00 to $1,270.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. TD Cowen dropped their target price on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a report on Thursday, April 9th. Barclays boosted their price target on BlackRock from $1,290.00 to $1,310.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. The Goldman Sachs Group boosted their price target 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, BMO Capital Markets boosted their price target on BlackRock from $1,200.00 to $1,250.00 and gave the company an “outperform” rating in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $1,264.61.

Insider Activity at BlackRock

In other BlackRock news, President Robert Kapito sold 8,739 shares of BlackRock 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 transaction of $9,233,627.40. Following the sale, the president directly 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction that occurred on 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 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 SEC filing for this sale provides additional information. 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.