BlackRock $BLK Shares Acquired by Heritage Investors Management Corp

Heritage Investors Management Corp increased its stake in shares of BlackRock (NYSE:BLK) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,111 shares of the asset manager’s stock after buying an additional 1,065 shares during the quarter. BlackRock comprises about 1.2% of Heritage Investors Management Corp’s holdings, making the stock its 22nd largest position. Heritage Investors Management Corp’s holdings in BlackRock were worth $38,575,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of BlackRock by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock valued at $15,051,846,000 after purchasing an additional 221,123 shares during the last quarter. State Street Corp raised its stake in shares of BlackRock by 0.5% during the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock worth $6,705,193,000 after purchasing an additional 33,752 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of BlackRock by 5,190.3% during the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock worth $5,876,618,000 after purchasing an additional 5,386,640 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of BlackRock by 3.0% during the fourth quarter. Bank of America Corp DE now owns 5,197,904 shares of the asset manager’s stock worth $5,563,524,000 after purchasing an additional 149,902 shares during the period. Finally, Capital Research Global Investors lifted its holdings in shares of BlackRock by 0.3% during the fourth quarter. Capital Research Global Investors now owns 3,838,937 shares of the asset manager’s stock worth $4,108,968,000 after purchasing an additional 12,019 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. BNP Paribas Exane raised their target price 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. Weiss Ratings raised shares of BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. TD Cowen dropped their price target on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a research note on Thursday, April 9th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of BlackRock from $1,150.00 to $1,240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,269.44.

Insider Buying and Selling at BlackRock

In other BlackRock news, President Robert Kapito sold 8,739 shares of the company’s stock in a transaction 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 sale, the president owned 210,186 shares of the company’s stock, valued at approximately $222,082,527.60. This represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were 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 owned 230,516 shares of the company’s stock, valued at approximately $242,168,583.80. This represents 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.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: The U.S. Treasury chose BlackRock’s IVV and ITOT ETFs for the new Trump Accounts program, which could boost future ETF inflows and reinforce BlackRock’s position in low-cost index investing. US Treasury picks BlackRock, Vanguard ETFs for Trump Accounts
• Positive Sentiment: BlackRock’s BUIDL tokenized treasury product continued to grow even as crypto-native yield products shrank, underscoring demand for asset-backed digital products tied to traditional markets. Yield-bearing stablecoin slowdown ends three-year run for crypto-native products
• Positive Sentiment: BlackRock was also highlighted in articles about expanding tokenization efforts and ETF adoption, which may help support longer-term growth narratives around its iShares franchise. Ondo Finance brings U.S. stocks onchain for the first time following SEC guidance
• Positive Sentiment: Analyst notes saying BlackRock has a strong history of beating earnings estimates may also be helping sentiment ahead of its next report on July 15. Will BlackRock (BLK) Beat Estimates Again in Its Next Earnings Report?

BlackRock Trading Up 1.4%

Shares of BLK opened at $994.50 on Friday. BlackRock has a twelve month low of $917.39 and a twelve month 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. The firm has a market capitalization of $154.38 billion, a P/E ratio of 24.96, a PEG ratio of 1.26 and a beta of 1.43. The firm’s 50-day moving average is $1,039.37 and its two-hundred day moving average is $1,046.33.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.40 by $0.13. The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period last year, the firm earned $9.64 EPS. On average, research analysts predict that BlackRock will post 53.34 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 5th were paid a $5.73 dividend. This represents a $22.92 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, June 5th. BlackRock’s dividend payout ratio (DPR) is presently 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.