Midway Capital Research & Management Buys New Shares in BlackRock $BLK

Midway Capital Research & Management acquired a new position in shares of BlackRock (NYSE:BLK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,131 shares of the asset manager’s stock, valued at approximately $2,281,000. BlackRock makes up 2.2% of Midway Capital Research & Management’s investment portfolio, making the stock its 19th largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Strategic Advisory Partners LLC bought a new stake in BlackRock in the fourth quarter valued at approximately $241,000. NWF Advisory Services Inc. grew its position in shares of BlackRock by 4.3% in the fourth quarter. NWF Advisory Services Inc. now owns 490 shares of the asset manager’s stock valued at $524,000 after purchasing an additional 20 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of BlackRock during the fourth quarter worth approximately $36,000. Reflection Asset Management bought a new position in shares of BlackRock during the fourth quarter worth approximately $265,000. Finally, CFO Capital Management LLC acquired a new stake in BlackRock during the 4th quarter worth approximately $1,466,000. 80.69% of the stock is owned by institutional investors.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s spot Bitcoin ETF continues to act as a gateway for new investors into traditional finance, with Jay Jacobs saying roughly three-quarters of IBIT holders had never owned an ETF before. That supports the case for continued asset-gathering strength in BlackRock’s ETF franchise. Article Title
• Positive Sentiment: BlackRock filed for an iShares Bitcoin Premium Income ETF, a covered-call product aimed at income seekers. The move suggests BlackRock is broadening its crypto ETF lineup and could attract more fee-generating inflows. Article Title
• Positive Sentiment: BlackRock Canada announced June cash distributions for multiple iShares ETFs, reinforcing the company’s large and steady ETF distribution machine, which can be viewed as a sign of recurring product demand. Article Title
• Neutral Sentiment: BlackRock was also highlighted as one of the largest Bitcoin holders, with Arkham data placing it ahead of Binance in BTC count. This reflects the scale of its crypto exposure, but it is more descriptive than fundamentally material on its own. Article Title
• Neutral Sentiment: Coverage comparing BlackRock with Blackstone and news about BlackRock entering the active high-yield ETF arena are broadly supportive of its product expansion, but neither article points to an immediate catalyst for the stock. Article Title
• Negative Sentiment: One headline noted BlackRock “dumps 1,000 Bitcoin” as BTC struggled to hold the $60,000 level. If sustained, weaker crypto prices could dampen sentiment around BlackRock’s Bitcoin-linked products, though the impact on BLK itself is likely limited. Article Title

BlackRock Stock Performance

NYSE BLK opened at $1,051.51 on Friday. The firm’s 50 day simple moving average is $1,047.92 and its 200 day simple moving average is $1,051.90. The firm has a market capitalization of $163.23 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 1.37 and a beta of 1.42. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34.

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, beating the consensus estimate of $12.40 by $0.13. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the company posted $9.64 EPS. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, research analysts expect that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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

Insider Buying and Selling at BlackRock

In related news, President Robert Kapito sold 8,739 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the sale, the president owned 210,186 shares in the company, 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 SEC, which is available at this hyperlink. Also, CEO Laurence Fink sold 33,900 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 230,516 shares in the company, valued at approximately $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. Company insiders own 1.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BLK. Jefferies Financial Group reduced their price target on BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. 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 report on Wednesday, April 15th. Weiss Ratings raised BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. TD Cowen reduced their target price on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. decreased their price target on shares of BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating on the stock in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,264.61.

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.