Sanctuary Advisors LLC Has $38.10 Million Position in BlackRock $BLK

Sanctuary Advisors LLC grew its holdings in BlackRock (NYSE:BLK) by 2.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,620 shares of the asset manager’s stock after acquiring an additional 896 shares during the period. Sanctuary Advisors LLC’s holdings in BlackRock were worth $38,103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BLK. Evolution Wealth Management Inc. bought a new position in BlackRock during the fourth quarter valued at about $26,000. Birchbrook Inc. bought a new stake in shares of BlackRock during the 4th quarter worth about $31,000. LFA Lugano Financial Advisors SA acquired a new position in shares of BlackRock during the 4th quarter valued at about $32,000. Basepoint Wealth LLC bought a new position in shares of BlackRock in the 4th quarter valued at approximately $32,000. Finally, Swiss RE Ltd. bought a new position in shares of BlackRock in the 4th quarter valued at approximately $33,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BLK. Keefe, Bruyette & Woods boosted their price objective on shares of BlackRock from $1,240.00 to $1,275.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. BMO Capital Markets raised their target price on shares of BlackRock from $1,200.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. The Goldman Sachs Group lifted their target price on shares of BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. UBS Group boosted their target price on shares of BlackRock from $1,235.00 to $1,270.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Finally, Barclays upped their price target on shares of BlackRock from $1,310.00 to $1,340.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,270.72.

BlackRock Stock Performance

NYSE BLK opened at $1,026.88 on Wednesday. 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 firm has a market capitalization of $159.16 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 1.24 and a beta of 1.43. The company’s fifty day moving average is $1,033.22 and its two-hundred day moving average is $1,042.90. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, beating analysts’ consensus estimates of $12.40 by $0.13. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The business had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the business earned $9.64 earnings per share. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. Equities research analysts forecast that BlackRock will post 54.16 EPS for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 5th were paid a dividend of $5.73 per share. This represents a $22.92 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, June 5th. BlackRock’s payout ratio is currently 57.53%.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is expected to deliver another strong quarter, with Wall Street looking for Q2 EPS of $12.65 and revenue of $6.74 billion, both implying solid year-over-year growth and setting up a potentially favorable earnings reaction. Article Title
• Positive Sentiment: Investor demand for BlackRock’s cash-style ETF SGOV is surging, with assets nearing $100 billion, highlighting strong inflows into BlackRock’s ETF franchise and ongoing demand for its low-risk cash management products. Article Title
• Positive Sentiment: BlackRock’s tokenization and digital-asset initiatives are gaining traction, including BUIDL’s rapid asset growth and BlackRock’s role in a UK tokenization task force, reinforcing the company’s positioning in a fast-growing market. Article Title
• Neutral Sentiment: BlackRock continues to be discussed favorably in comparison pieces and ETF coverage, but these articles are more informational than stock-moving. Article Title
• Neutral Sentiment: Morgan Stanley lowered its price target on BlackRock to $1,383 from $1,430, but kept an overweight rating, so the signal is still positive overall despite slightly less upside. Article Title

Insider Activity at BlackRock

In other BlackRock news, President Robert Kapito sold 8,739 shares of the firm’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 trade represents a 3.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 33,900 shares of BlackRock 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 directly owned 230,516 shares in the company, valued at $242,168,583.80. The trade was a 12.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.92% of the company’s stock.

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.