Relyea Zuckerberg Hanson LLC Has $678,000 Stake in BlackRock $BLK

Relyea Zuckerberg Hanson LLC lowered its position in BlackRock (NYSE:BLK) by 46.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 705 shares of the asset manager’s stock after selling 623 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in BlackRock were worth $678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mosaic Family Wealth Partners LLC acquired a new stake in BlackRock in the first quarter valued at approximately $389,000. Stronghold Wealth Management L.L.C. increased its stake in shares of BlackRock by 2.9% during the 1st quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager’s stock worth $345,000 after purchasing an additional 10 shares during the last quarter. Money Concepts Capital Corp raised its holdings in shares of BlackRock by 5.5% during the 1st quarter. Money Concepts Capital Corp now owns 1,192 shares of the asset manager’s stock valued at $1,147,000 after purchasing an additional 62 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its stake in shares of BlackRock by 2.3% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 46,558 shares of the asset manager’s stock valued at $44,530,000 after purchasing an additional 1,045 shares during the last quarter. Finally, CFS Investment Advisory Services LLC lifted its stake in shares of BlackRock by 15.8% in the 1st quarter. CFS Investment Advisory Services LLC now owns 308 shares of the asset manager’s stock valued at $324,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock News Roundup

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 Stock Performance

BLK stock traded up $16.50 during mid-day trading on Friday, reaching $1,036.18. 595,032 shares of the stock traded hands, compared to its average volume of 794,052. The firm has a market capitalization of $160.85 billion, a PE ratio of 26.01, a P/E/G ratio of 1.30 and a beta of 1.43. The business has a 50-day moving average of $1,034.39 and a two-hundred day moving average of $1,044.04. BlackRock has a 52 week low of $917.39 and a 52 week 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 posted its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping 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 business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the company posted $9.64 earnings per share. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. As a group, equities analysts predict that BlackRock will post 53.9 EPS for the current fiscal year.

BlackRock Announces Dividend

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

Insider Buying and Selling

In related news, President Robert Kapito sold 8,739 shares of the business’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 transaction, the president 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Laurence Fink sold 33,900 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were 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 of the company’s stock, 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. 1.92% of the stock is owned by insiders.

Analyst Ratings Changes

BLK has been the topic of several recent research reports. Jefferies Financial Group cut 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. JPMorgan Chase & Co. decreased their price target on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. Keefe, Bruyette & Woods raised their price objective on BlackRock from $1,240.00 to $1,275.00 and gave the company an “outperform” rating in a research note on Friday. The Goldman Sachs Group boosted 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. Finally, BMO Capital Markets upped their target price on BlackRock from $1,200.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $1,273.33.

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.