Vaughan David Investments LLC IL Reduces Position in BlackRock $BLK

Vaughan David Investments LLC IL cut its position in shares of BlackRock (NYSE:BLK) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,420 shares of the asset manager’s stock after selling 599 shares during the period. BlackRock makes up 1.2% of Vaughan David Investments LLC IL’s portfolio, making the stock its 19th largest holding. Vaughan David Investments LLC IL’s holdings in BlackRock were worth $57,178,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BLK. Legal & General Group Plc lifted its holdings in BlackRock by 0.8% during the 4th quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager’s stock valued at $985,331,000 after buying an additional 7,457 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in BlackRock by 6,347.9% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 42,234 shares of the asset manager’s stock valued at $49,239,000 after buying an additional 41,579 shares in the last quarter. Sienna Gestion lifted its holdings in BlackRock by 51.5% during the 3rd quarter. Sienna Gestion now owns 22,859 shares of the asset manager’s stock valued at $24,299,000 after buying an additional 7,773 shares in the last quarter. Sarasin & Partners LLP lifted its holdings in BlackRock by 10.6% during the 4th quarter. Sarasin & Partners LLP now owns 251,856 shares of the asset manager’s stock valued at $269,572,000 after buying an additional 24,196 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in BlackRock by 8.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 360,995 shares of the asset manager’s stock valued at $420,873,000 after buying an additional 29,449 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is preparing to launch a Bitcoin income ETF, BITA, which would use covered calls on IBIT to generate yield and strengthen the firm’s position in crypto investing. BlackRock’s BITA: New Bitcoin ETF Promises Income Generation Through Options Strategy
• Positive Sentiment: BlackRock’s push into space-themed ETFs and tokenized/digital assets suggests the firm is broadening its product lineup in areas with strong investor demand. How Investors Are Reacting To BlackRock (BLK) Expanding Into Space ETFs And Digital Assets
• Positive Sentiment: BlackRock and Fidelity continue to dominate U.S. spot Bitcoin ETF inflows, reinforcing BlackRock’s leadership in the category and supporting fee revenue growth. Bitcoin ETF Market Dominated by BlackRock (BLK) and Fidelity with 90%+ Share
• Neutral Sentiment: BlackRock is reportedly targeting a $5 billion order for SpaceX’s IPO, highlighting its access to major deals but not directly changing near-term fundamentals. BlackRock seeks to buy at least $5 billion in SpaceX IPO shares, WSJ reports
• Neutral Sentiment: BlackRock’s caution on India bond inflows reflects macro risks such as oil prices and currency hedging costs, but this is more of a portfolio note than a direct earnings driver. BlackRock says oil, FX risks loom over India’s bond inflow push
• Negative Sentiment: On-chain reports said BlackRock-linked wallets moved large amounts of Bitcoin and Ethereum to exchanges, which traders may view as a bearish sign for crypto prices and related sentiment. BlackRock Moves $159M in Bitcoin and Ethereum to Coinbase Prime and Binance as ETF Outflows Continue
• Negative Sentiment: BlackRock’s crypto portfolio reportedly fell by more than $12 billion in early June, which could weigh on sentiment around its digital-asset exposure. BlackRock crypto portfolio falls by over $12 billion in early June

BlackRock Trading Up 0.7%

NYSE:BLK opened at $1,017.36 on Friday. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. The firm has a market cap of $157.93 billion, a P/E ratio of 25.54, a P/E/G ratio of 1.32 and a beta of 1.42. The firm has a 50-day simple moving average of $1,038.39 and a 200-day simple moving average of $1,051.51.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the business posted $9.64 EPS. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. Equities analysts anticipate that BlackRock will post 52.8 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, June 5th. This represents a $22.92 annualized dividend and a dividend yield of 2.3%. BlackRock’s payout ratio is currently 57.53%.

Insider Activity

In other news, President Robert Kapito sold 8,739 shares of BlackRock 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 transaction, the president 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 filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction 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 approximately $242,168,583.80. The trade was a 12.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.92% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of BlackRock from $1,290.00 to $1,310.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. BMO Capital Markets lifted their price objective on shares of BlackRock from $1,200.00 to $1,250.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Evercore decreased their price objective on shares of BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating for the company in a report on Monday. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $1,150.00 to $1,240.00 and gave the company an “outperform” rating in a report on Wednesday, April 15th. Finally, UBS Group lifted their price objective on shares of BlackRock from $1,235.00 to $1,270.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,264.61.

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.