Frank Rimerman Advisors LLC Buys 113 Shares of BlackRock, Inc. (NYSE:BLK)

16 Mar 2025, 12:38 by Teresa Graham · The Cerbat Gem

Frank Rimerman Advisors LLC lifted its position in BlackRock, Inc. (NYSE:BLK – Free Report) by 19.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 689 shares of the asset manager’s stock after acquiring an additional 113 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in BlackRock were worth $706,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BLK. Oddo BHF Asset Management Sas purchased a new stake in BlackRock in the 3rd quarter valued at about $518,000. Amalgamated Bank boosted its position in BlackRock by 1.7% in the fourth quarter. Amalgamated Bank now owns 28,711 shares of the asset manager’s stock worth $29,432,000 after purchasing an additional 489 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in BlackRock by 4.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager’s stock valued at $12,793,000 after purchasing an additional 578 shares during the period. Erste Asset Management GmbH bought a new stake in shares of BlackRock during the 3rd quarter worth $32,904,000. Finally, Raymond James Trust N.A. boosted its holdings in shares of BlackRock by 2.3% in the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after buying an additional 614 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the sale, the director now owns 68,433 shares in the company, valued at approximately $73,403,973.12. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 20,430 shares of company stock worth $21,234,629 over the last 90 days. 0.90% of the stock is owned by insiders.

BlackRock Trading Up 3.1 %

Shares of BLK stock opened at $928.74 on Friday. The firm’s 50 day moving average is $983.61 and its 200 day moving average is $986.30. The stock has a market capitalization of $144.19 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.90 and a beta of 1.29. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK – Get Free Report) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.66 EPS. Research analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a dividend of $5.21 per share. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio is currently 49.62%.

Analyst Ratings Changes

BLK has been the topic of a number of research analyst reports. UBS Group boosted their target price on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods reduced their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Barclays dropped their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company lifted their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,120.67.

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