PB Investment Partners L.P. Has $15.22 Million Holdings in BlackRock $BLK

PB Investment Partners L.P. boosted its stake in BlackRock (NYSE:BLK) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,221 shares of the asset manager’s stock after purchasing an additional 692 shares during the quarter. BlackRock makes up 9.7% of PB Investment Partners L.P.’s investment portfolio, making the stock its 6th largest position. PB Investment Partners L.P.’s holdings in BlackRock were worth $15,221,000 as of its most recent filing with the Securities & Exchange Commission.

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

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,031.45 on Monday. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. The stock’s 50-day moving average is $1,039.86 and its 200 day moving average is $1,051.60. The stock has a market cap of $160.12 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 1.34 and a beta of 1.42. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping analysts’ consensus estimates of $12.40 by $0.13. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The business’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the firm earned $9.64 EPS. On average, sell-side analysts anticipate that BlackRock will post 52.8 EPS for the current fiscal year.

BlackRock Announces Dividend

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

Insider Buying and Selling

In other BlackRock news, President Robert Kapito sold 8,739 shares of BlackRock 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 transaction, the president directly owned 210,186 shares of the company’s stock, valued at $222,082,527.60. The trade was a 3.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the chief executive officer directly owned 230,516 shares in the company, valued at $242,168,583.80. This trade represents a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Evercore dropped their price target on BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating for the company in a research report on Monday, June 8th. The Goldman Sachs Group raised their price objective on BlackRock from $1,181.00 to $1,313.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. UBS Group raised their price objective on BlackRock from $1,235.00 to $1,270.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Jefferies Financial Group decreased their price objective 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. Finally, BMO Capital Markets raised their price objective on BlackRock from $1,200.00 to $1,250.00 and gave the company an “outperform” rating in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,264.61.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Negative Sentiment: BlackRock’s private-credit funds saw redemption requests far above the cap, and the firm is again limiting withdrawals, which could weigh on sentiment around its alternatives business. Reuters article
• Negative Sentiment: Bloomberg and other reports said BlackRock’s HPS/HLEND private-credit vehicles capped redemptions after investors sought to withdraw more than 5%, underscoring continued pressure in the funds. Bloomberg article
• Neutral Sentiment: BlackRock also reported buying additional Bitcoin and Ethereum holdings, and it is preparing an income-focused Bitcoin ETF, highlighting continued growth in its digital-asset franchise. Finbold article
• Neutral Sentiment: Reports that BlackRock may seek about $5 billion of SpaceX IPO shares point to strong client demand and product breadth, but this is not as immediate a driver as the redemption headlines. Reuters article

BlackRock 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.