BlackRock $BLK Position Lessened by DJE Kapital AG

DJE Kapital AG reduced its stake in shares of BlackRock (NYSE:BLK) by 24.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,144 shares of the asset manager’s stock after selling 34,887 shares during the period. BlackRock accounts for approximately 3.1% of DJE Kapital AG’s portfolio, making the stock its 13th biggest holding. DJE Kapital AG owned 0.07% of BlackRock worth $114,000,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Evolution Wealth Management Inc. bought a new position in shares of BlackRock in the fourth quarter worth about $26,000. Birchbrook Inc. bought a new position in shares of BlackRock in the fourth quarter worth about $31,000. Basepoint Wealth LLC bought a new position in shares of BlackRock in the fourth quarter worth about $32,000. LFA Lugano Financial Advisors SA bought a new position in shares of BlackRock in the fourth quarter worth about $32,000. Finally, Goodman Advisory Group LLC bought a new position in shares of BlackRock in the third quarter worth about $37,000. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BLK has been the topic of a number of recent analyst reports. Barclays lifted their price objective on BlackRock from $1,290.00 to $1,310.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods lifted their target price on BlackRock from $1,150.00 to $1,240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. TD Cowen decreased their target price on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a research report on Thursday, April 9th. JPMorgan Chase & Co. decreased their price objective on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Finally, The Goldman Sachs Group lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,264.61.

BlackRock Stock Up 0.7%

NYSE BLK opened at $1,017.36 on Friday. 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 $1,038.39 and its two-hundred day moving average is $1,051.51. The company has a market capitalization of $157.93 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.32 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 released its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, beating analysts’ consensus estimates of $12.40 by $0.13. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The company’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the business earned $9.64 earnings per share. Equities analysts forecast that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be issued a $5.73 dividend. This represents a $22.92 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, June 5th. BlackRock’s payout ratio is presently 57.53%.

Insider Activity at BlackRock

In other news, President Robert Kapito sold 8,739 shares of the business’s 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 legal filing with the Securities & Exchange Commission, which is available through 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 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. 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.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is expanding its ETF lineup with new thematic products, including a space-focused fund in Europe/UK and a planned income-paying Bitcoin ETF, reinforcing its leadership in fast-growing areas of asset management. How Investors Are Reacting To BlackRock (BLK) Expanding Into Space ETFs And Digital Assets
• Positive Sentiment: Reports that BlackRock is seeking to buy at least $5 billion of SpaceX IPO shares highlight its willingness to back high-profile alternative assets and could support fee-generating opportunities if the deal moves forward. BlackRock seeks to buy at least $5 billion in SpaceX IPO shares, WSJ reports
• Positive Sentiment: BlackRock continues to dominate Bitcoin ETF flows with Fidelity, suggesting its crypto products are capturing the bulk of investor demand in the U.S. spot Bitcoin ETF market. BlackRock and Fidelity Dominate U.S. Bitcoin ETF Flows
• Neutral Sentiment: The Supreme Court’s ruling shielding investment funds from some shareholder lawsuits is broadly supportive for the asset-management industry, though the direct impact on BlackRock is limited. Supreme Court Shields Investment Funds From Shareholder Lawsuits
• Neutral Sentiment: Financial stocks were firmer in afternoon trading, creating a generally supportive backdrop for BlackRock, although the move appears driven by sector rotation rather than company-specific news. Sector Update: Financial Stocks Rise Late Afternoon
• Negative Sentiment: Some coverage noted BlackRock’s crypto portfolio declined by more than $12 billion early in June and that its Bitcoin holdings were sold while Ethereum was accumulated, which could raise questions about near-term digital-asset mark-to-market performance. BlackRock crypto portfolio falls by over $12 billion in early June

About BlackRock

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.