Aviva PLC Acquires 6,402 Shares of BlackRock $BLK

Key Points

• Aviva PLC increased its BlackRock stake by 5.5% in the fourth quarter, buying 6,402 additional shares and bringing its total holdings to 123,207 shares worth about $131.9 million.
• BlackRock executives recently sold shares: CEO Laurence Fink sold 33,900 shares for about $35.6 million, and President Robert Kapito sold 8,739 shares for roughly $9.2 million.
• The company remains financially strong, with quarterly earnings of $12.53 per share beating estimates, revenue up 27% year over year, and a quarterly dividend of $5.73 per share announced.

Aviva PLC lifted its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 123,207 shares of the asset manager's stock after acquiring an additional 6,402 shares during the period. Aviva PLC owned approximately 0.08% of BlackRock worth $131,873,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Evolution Wealth Management Inc. bought a new position in shares of BlackRock during the 4th quarter worth about $26,000. Birchbrook Inc. bought a new position in BlackRock during the 4th quarter valued at about $31,000. LFA Lugano Financial Advisors SA bought a new position in BlackRock during the 4th quarter valued at about $32,000. Basepoint Wealth LLC bought a new position in BlackRock during the 4th quarter valued at about $32,000. Finally, Goodman Advisory Group LLC bought a new position in BlackRock during the 3rd quarter valued at about $37,000. 80.69% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction that occurred 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 owned 230,516 shares in the company, valued at $242,168,583.80. The trade was a 12.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction that occurred 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 of the company's stock, valued at approximately $222,082,527.60. This represents a 3.99% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.92% of the company's stock.

BlackRock News Roundup

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

BlackRock Trading Up 0.7%

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 stock has a market capitalization of $157.93 billion, a PE ratio of 25.54, a PEG 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. The firm has a 50-day moving average price of $1,038.39 and a two-hundred day moving average price of $1,051.51.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, beating the consensus estimate of $12.40 by $0.13. The firm had revenue of $6.70 billion during the quarter, compared to analysts' expectations of $6.56 billion. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The company's quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the company posted $9.64 EPS. As a group, equities analysts anticipate that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed 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. This represents a $22.92 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, June 5th. BlackRock's dividend payout ratio (DPR) is presently 57.53%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BLK shares. BMO Capital Markets lifted their price target 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. Jefferies Financial Group cut their price target on shares of BlackRock from $1,351.00 to $1,199.00 and set a "buy" rating for the company in a report on Wednesday, April 8th. JPMorgan Chase & Co. cut their price target on shares of BlackRock from $1,269.00 to $1,128.00 and set a "neutral" rating for the company in a report on Monday, April 13th. Keefe, Bruyette & Woods lifted their price target 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 target 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 assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.

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