Sanctuary Advisors LLC Has $38.10 Million Stock Holdings in BlackRock $BLK

Sanctuary Advisors LLC boosted its holdings in shares of BlackRock (NYSE:BLK) by 2.3% in the first quarter, Holdings Channel reports. The firm owned 39,620 shares of the asset manager’s stock after purchasing an additional 896 shares during the quarter. Sanctuary Advisors LLC’s holdings in BlackRock were worth $38,103,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. 1ST Source Bank lifted its position in shares of BlackRock by 7.2% during the 1st quarter. 1ST Source Bank now owns 1,116 shares of the asset manager’s stock worth $1,073,000 after buying an additional 75 shares during the period. Checchi Capital Advisers LLC grew its position in BlackRock by 6.7% in the first quarter. Checchi Capital Advisers LLC now owns 1,937 shares of the asset manager’s stock valued at $1,862,000 after acquiring an additional 122 shares during the period. Maryland State Retirement & Pension System raised its stake in BlackRock by 1.3% during the first quarter. Maryland State Retirement & Pension System now owns 7,702 shares of the asset manager’s stock worth $7,407,000 after acquiring an additional 97 shares in the last quarter. Calamos Advisors LLC lifted its holdings in shares of BlackRock by 1.2% during the first quarter. Calamos Advisors LLC now owns 30,357 shares of the asset manager’s stock valued at $29,195,000 after acquiring an additional 364 shares during the period. Finally, Archer Investment Corp bought a new position in shares of BlackRock during the first quarter valued at $40,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about BlackRock

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BLK. UBS Group upped their target price on shares of BlackRock from $1,235.00 to $1,270.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Evercore reissued an “outperform” rating and set a $1,145.00 price target on shares of BlackRock in a report on Friday. Weiss Ratings upgraded shares of BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. BNP Paribas Exane upped their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Finally, Barclays raised their price objective on shares of BlackRock from $1,310.00 to $1,340.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,270.72.

Insider Buying and Selling

In related news, President Robert Kapito sold 8,739 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $222,082,527.60. This trade represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the business’s 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 transaction of $35,613,645.00. Following the completion of the transaction, the chief executive officer owned 230,516 shares of the company’s stock, valued at $242,168,583.80. This trade represents a 12.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is currently owned by corporate insiders.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $1,026.88 on Wednesday. The business has a fifty day moving average of $1,033.22 and a 200-day moving average of $1,042.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The firm has a market cap of $159.16 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the prior year, the company earned $9.64 EPS. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. On average, equities research analysts predict that BlackRock will post 54.16 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

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.