Shepherd Street Advisors LLC Invests $1.44 Million in BlackRock $BLK

Shepherd Street Advisors LLC purchased a new position in BlackRock (NYSE:BLK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,344 shares of the asset manager’s stock, valued at approximately $1,439,000. BlackRock comprises approximately 1.4% of Shepherd Street Advisors LLC’s portfolio, making the stock its 24th largest position.

Other institutional investors have also recently made changes to their positions in the company. Hopwood Financial Services Inc. boosted its stake in shares of BlackRock by 866.7% in the third quarter. Hopwood Financial Services Inc. now owns 29 shares of the asset manager’s stock worth $34,000 after acquiring an additional 26 shares during the last quarter. Birchbrook Inc. acquired a new stake in shares of BlackRock in the fourth quarter worth approximately $31,000. Basepoint Wealth LLC acquired a new stake in shares of BlackRock in the fourth quarter worth approximately $32,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of BlackRock in the fourth quarter worth approximately $32,000. Finally, Collier Financial purchased a new position in BlackRock during the third quarter worth approximately $36,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction 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. The trade was a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction on Monday, April 27th. The shares were 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 $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. 1.92% of the stock is owned by insiders.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,019.74 on Wednesday. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. The company has a market cap of $158.30 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.33 and a beta of 1.42. The business’s 50 day moving average price is $1,030.75 and its 200 day moving average price is $1,053.05.

BlackRock (NYSE:BLK) last posted its earnings results 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 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 earnings per share. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, research analysts predict that BlackRock will post 52.8 EPS for the current year.

BlackRock Dividend Announcement

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 $5.73 dividend. The ex-dividend date is Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. BlackRock’s payout ratio is currently 57.53%.

Analysts Set New Price Targets

BLK has been the topic of a number of analyst reports. Weiss Ratings upgraded BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. Jefferies Financial Group reduced their price objective on 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. UBS Group lifted their price objective on BlackRock from $1,235.00 to $1,270.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods lifted their price objective on BlackRock from $1,150.00 to $1,240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. Finally, Evercore reiterated an “outperform” rating and set a $1,220.00 price objective on shares of BlackRock in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,269.06.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s Rick Rieder said earnings growth and cash moving back into markets support a bullish case for stocks, which reinforces confidence in the firm’s market outlook and asset-management franchise. Why BlackRock’s Rick Rieder feels ‘a bit more relaxed’ about AI bull market than dotcom era
• Positive Sentiment: BlackRock increased its stake in OMV to 4.67%, signaling continued active investment activity and influence in large institutional holdings. BlackRock Lifts OMV Stake Above 4 Threshold
• Positive Sentiment: Financial stocks were broadly higher in Tuesday trading, which could provide a sector tailwind for BlackRock as an asset manager. Sector Update: Financial Stocks Advance Tuesday Afternoon
• Neutral Sentiment: BlackRock launched a $25 million Future Builders RFP to support skilled trades workforce development, a reputationally positive move but not likely to have a direct near-term earnings impact. BlackRock Future Builders RFP Links Skilled Trades Philanthropy And Client Relations
• Neutral Sentiment: BlackRock refined tracking and climate-screen methodology for certain iShares ETFs in India and Asia ex-Japan, a product update that is unlikely to materially move the stock on its own. BlackRock Tightens Tracking and Refines Climate Screens for India and Asia ex Japan iShares ETFs
• Negative Sentiment: BlackRock’s crypto-related ETFs are seeing heavy outflows, including a reported $1.26 billion sale of IBIT shares and broader weekly outflows from spot Bitcoin ETFs, which could weigh on sentiment around the company’s rapidly watched digital-asset business. NYDIG suggests $1.3B IBIT sale was whale exiting directional trade
• Negative Sentiment: Reports that BlackRock’s crypto portfolio value fell by more than $13 billion over five months add to concerns about weaker performance in its digital-asset exposure. BlackRock crypto portfolio fell by over $13 billion in 5 months

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.