DJE Kapital AG Sells 34,887 Shares of BlackRock $BLK

DJE Kapital AG trimmed its position in BlackRock (NYSE:BLK) by 24.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 105,144 shares of the asset manager’s stock after selling 34,887 shares during the quarter. BlackRock makes up 3.1% of DJE Kapital AG’s holdings, making the stock its 13th largest position. DJE Kapital AG’s holdings in BlackRock were worth $114,000,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Legal & General Group Plc lifted its holdings in BlackRock by 0.8% in the fourth 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 during the period. Ontario Teachers Pension Plan Board lifted its holdings in BlackRock by 6,347.9% in the third 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 during the period. Sienna Gestion lifted its holdings in BlackRock by 51.5% in the third 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 during the period. Sarasin & Partners LLP lifted its holdings in BlackRock by 10.6% in the fourth 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 during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in BlackRock by 8.9% in the third 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 during the period. 80.69% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Laurence Fink sold 33,900 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Robert Kapito sold 8,739 shares of the business’s stock in a transaction dated 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 directly owned 210,186 shares of the company’s stock, valued at approximately $222,082,527.60. The trade was a 3.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.92% of the company’s stock.

BlackRock Price Performance

Shares of 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 firm’s 50-day moving average price is $1,038.39 and its 200-day moving average price is $1,051.51. The firm has a market capitalization 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. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the firm posted $9.64 earnings per share. Equities research analysts anticipate 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 given a dividend of $5.73 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $22.92 annualized dividend and a dividend yield of 2.3%. BlackRock’s payout ratio is presently 57.53%.

Key Headlines Impacting BlackRock

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on BLK shares. 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 report on Wednesday, April 8th. UBS Group boosted their target price 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. JPMorgan Chase & Co. dropped their target price on shares of BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. TD Cowen dropped their price objective on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a report on Thursday, April 9th. Finally, BMO Capital Markets upped 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. 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 company’s stock. According to MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price 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.