Vaughan David Investments LLC IL Cuts Stock Position in BlackRock $BLK

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Evolution Wealth Management Inc. purchased a new position in shares of BlackRock in the 4th quarter worth approximately $26,000. Birchbrook Inc. purchased a new stake in BlackRock during the 4th quarter worth approximately $31,000. Basepoint Wealth LLC purchased a new stake in BlackRock during the 4th quarter worth approximately $32,000. LFA Lugano Financial Advisors SA purchased a new stake in BlackRock during the 4th quarter worth approximately $32,000. Finally, Goodman Advisory Group LLC purchased a new stake in BlackRock during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 0.7%

BLK stock opened at $1,017.36 on Friday. The firm’s fifty day simple moving average is $1,038.39 and its 200-day simple moving average is $1,051.51. The company has a market capitalization of $157.93 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 1.32 and a beta of 1.42. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, beating the consensus estimate of $12.40 by $0.13. The business had revenue of $6.70 billion for 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 business’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the prior year, the firm earned $9.64 EPS. As a group, equities research analysts forecast that BlackRock will post 52.8 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed 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 dividend payout ratio is 57.53%.

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

Insider Buying and Selling at BlackRock

In other news, President Robert Kapito sold 8,739 shares of the company’s stock in a transaction 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 sale, the president directly owned 210,186 shares of the company’s stock, valued at $222,082,527.60. This represents a 3.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the completion of the sale, the chief executive officer directly owned 230,516 shares in the company, valued at $242,168,583.80. This trade represents 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Evercore dropped their target price on shares of BlackRock from $1,220.00 to $1,140.00 and set an “outperform” rating on the stock in a research report on Monday. Weiss Ratings raised shares of BlackRock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group boosted their target price on shares of BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. TD Cowen dropped their target price on shares of 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. Finally, Jefferies Financial Group dropped their target price on shares of BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. One equities research 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.