Payden & Rygel Buys 800 Shares of BlackRock $BLK

Payden & Rygel raised its stake in BlackRock (NYSE:BLK) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 22,500 shares of the asset manager’s stock after acquiring an additional 800 shares during the quarter. BlackRock accounts for about 1.7% of Payden & Rygel’s holdings, making the stock its 12th largest position. Payden & Rygel’s holdings in BlackRock were worth $24,083,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Shum Financial Group Inc. grew its stake in BlackRock by 0.4% during the fourth quarter. Shum Financial Group Inc. now owns 2,183 shares of the asset manager’s stock worth $2,336,000 after buying an additional 9 shares during the last quarter. First Bancorp Inc ME grew its stake in BlackRock by 2.9% during the fourth quarter. First Bancorp Inc ME now owns 321 shares of the asset manager’s stock worth $344,000 after buying an additional 9 shares during the last quarter. Rather & Kittrell Inc. grew its stake in BlackRock by 2.1% during the fourth quarter. Rather & Kittrell Inc. now owns 430 shares of the asset manager’s stock worth $461,000 after buying an additional 9 shares during the last quarter. Oakworth Capital Inc. grew its stake in BlackRock by 1.2% during the fourth quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager’s stock worth $808,000 after buying an additional 9 shares during the last quarter. Finally, Colton Groome Financial Advisors LLC grew its stake in BlackRock by 0.9% during the third quarter. Colton Groome Financial Advisors LLC now owns 1,097 shares of the asset manager’s stock worth $1,279,000 after buying an additional 10 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock reportedly struck a €15 billion partnership with Citi to expand private European lending, which could deepen its presence in private credit and generate more fee revenue. Citi strikes €15bn partnership with BlackRock for private European lending
• Positive Sentiment: A wealth manager bought $5.8 million of BlackRock’s Active Country Rotation ETF, a small but favorable signal for continued demand for BlackRock-managed products. This Wealth Manager Just Bet $5.8 Million on BlackRock’s Active Country Rotation ETF
• Positive Sentiment: BlackRock is also being linked to a potential multi-billion-dollar investment in SpaceX’s IPO, which highlights its ability to participate in marquee capital-markets opportunities. BlackRock is said to weigh investing billions in SpaceX IPO
• Neutral Sentiment: BlackRock disclosed it crossed above a 3% stake in Fagron, reflecting active portfolio positioning but not a major stock-moving event by itself. Disclosure of transparency notifications from BlackRock, Inc.
• Neutral Sentiment: Commentary around BlackRock ETFs and long-term valuation suggests ongoing investor debate about the stock’s upside, but nothing conclusive enough to move shares on its own. Vanguard’s VOO vs. BlackRock’s DGRO: One ETF Offers Better Upside, Says Investor
• Negative Sentiment: BlackRock’s private credit fund is facing DOJ scrutiny over valuation practices, adding regulatory and reputational risk to an important growth area. BlackRock’s Troubled Private Credit Fund Draws DOJ Scrutiny
• Negative Sentiment: Separate reports said the Manhattan U.S. Attorney’s office is seeking information on BlackRock TCP Capital Corp., reinforcing concern that private-credit oversight could become a larger issue. BlackRock private credit fund’s valuations are probed by DOJ
• Negative Sentiment: BlackRock’s Bitcoin ETF saw accelerated selling after weeks of inflows, which may weigh on sentiment around its crypto-linked assets under management. BlackRock accelerates Bitcoin selloff amid bearish sentiment
• Negative Sentiment: BlackRock reportedly capped withdrawals from one of its private credit funds, a sign of stress in the asset class that may raise investor caution. The Asset Manager Whose Private Credit Fund Just Capped Withdrawals. Should BlackRock Investors Worry?
• Negative Sentiment: Harvard reportedly sold its entire Ethereum stake after previously buying BlackRock’s Ethereum ETF, a data point that could suggest softer enthusiasm for the product category. Harvard sold off its entire $87 million Ethereum stake just one quarter after buying it

Analyst Ratings Changes

Several brokerages have recently commented on BLK. The Goldman Sachs Group increased their target price on BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Morgan Stanley increased their target price on BlackRock from $1,368.00 to $1,393.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Jefferies Financial Group decreased their target price on BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Evercore restated an “outperform” rating and set a $1,220.00 target price on shares of BlackRock in a report on Wednesday, April 15th. Finally, CICC Research increased their target price on BlackRock from $1,000.00 to $1,250.00 in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,269.06.

Insider Buying and Selling

In other BlackRock news, CEO Laurence Fink sold 33,900 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the transaction, the chief executive officer owned 230,516 shares in the company, valued at approximately $242,168,583.80. This trade represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction 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 transaction, the president directly owned 210,186 shares in the company, valued at approximately $222,082,527.60. This represents a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 45,249 shares of company stock worth $47,671,714 in the last ninety days. 1.92% of the stock is currently owned by corporate insiders.

BlackRock Price Performance

BlackRock stock opened at $1,085.60 on Tuesday. The business’s 50-day simple moving average is $1,010.27 and its 200 day simple moving average is $1,054.76. The stock has a market cap of $168.52 billion, a price-to-earnings ratio of 27.25, a P/E/G ratio of 1.41 and a beta of 1.44. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34.

BlackRock (NYSE:BLK) last announced its quarterly earnings data 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 net margin of 24.40% and a return on equity of 14.74%. The firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period last year, the firm earned $9.64 earnings per share. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. As a group, research analysts anticipate that BlackRock will post 52.77 earnings per share for the current year.

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.