Manning & Napier Advisors LLC Has $103.28 Million Holdings in BlackRock $BLK

Manning & Napier Advisors LLC trimmed its position in shares of BlackRock (NYSE:BLK) by 6.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,392 shares of the asset manager’s stock after selling 7,746 shares during the quarter. BlackRock makes up about 1.5% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Manning & Napier Advisors LLC’s holdings in BlackRock were worth $103,280,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BLK. Vanguard Group Inc. increased its holdings in BlackRock by 1.6% during 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 purchasing an additional 221,123 shares in the last quarter. State Street Corp boosted its stake in BlackRock by 0.5% in the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock worth $6,705,193,000 after purchasing an additional 33,752 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of BlackRock by 5,190.3% during the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock worth $5,876,618,000 after purchasing an additional 5,386,640 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of BlackRock by 3.0% during the fourth quarter. Bank of America Corp DE now owns 5,197,904 shares of the asset manager’s stock worth $5,563,524,000 after purchasing an additional 149,902 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in shares of BlackRock by 0.3% in the fourth quarter. Capital Research Global Investors now owns 3,838,937 shares of the asset manager’s stock valued at $4,108,968,000 after buying an additional 12,019 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BLK shares. Jefferies Financial Group reduced their price target on shares of 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. The Goldman Sachs Group boosted their target price on shares of BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Evercore reiterated an “outperform” rating and set a $1,145.00 target price on shares of BlackRock in a research report on Friday. Morgan Stanley increased their price target on shares of BlackRock from $1,393.00 to $1,430.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, TD Cowen lowered their price target 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,273.33.

Insiders Place Their Bets

In other BlackRock news, President Robert Kapito sold 8,739 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total transaction 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. The trade was a 3.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 33,900 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 230,516 shares in the company, valued at approximately $242,168,583.80. This trade represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. 1.92% of the stock is currently owned by insiders.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on BlackRock and maintained an outperform rating, signaling confidence ahead of earnings.
• Positive Sentiment: Barclays lifted its price target on BlackRock to $1,340 and kept an overweight rating, reflecting expectations for continued business momentum.
• Positive Sentiment: Analysts expect Q2 results to benefit from ETF inflows, higher market levels, and growth in assets under management, which could support earnings and revenue.
• Neutral Sentiment: BlackRock’s newer crypto-related products, including its Bitcoin income ETF and BUIDL tokenized treasury fund, are attracting attention but are not yet a major earnings driver.
• Neutral Sentiment: Broad crypto ETF outflows were reported, though BlackRock’s IBIT was flat, limiting direct negative impact on the company.

BlackRock Trading Up 1.6%

NYSE:BLK traded up $16.50 on Friday, hitting $1,036.18. 595,032 shares of the stock were exchanged, compared to its average volume of 794,052. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94. The stock has a market capitalization of $160.85 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 1.30 and a beta of 1.43. The company’s 50-day moving average price is $1,034.39 and its 200 day moving average price is $1,044.04.

BlackRock (NYSE:BLK) last issued its 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. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the firm earned $9.64 EPS. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, equities research analysts forecast that BlackRock will post 53.9 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th were paid a $5.73 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. BlackRock’s dividend payout ratio (DPR) is presently 57.53%.

BlackRock Company 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.