BlackRock $BLK Shares Bought by Diversify Wealth Management LLC

Key Points

• Diversify Wealth Management LLC boosted its BlackRock stake by 254% in the first quarter, raising holdings to 1,699 shares valued at about $1.77 million.
• BlackRock recently beat quarterly earnings and revenue estimates, reporting EPS of $12.53 on revenue of $6.70 billion, with revenue up 27% year over year.
• Analysts remain generally constructive on the stock: BlackRock has a Moderate Buy consensus rating, and the company also paid a quarterly dividend of $5.73 per share, equal to a 2.2% annualized yield.

Diversify Wealth Management LLC grew its position in BlackRock (NYSE:BLK - Free Report) by 254.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,699 shares of the asset manager's stock after acquiring an additional 1,219 shares during the period. Diversify Wealth Management LLC's holdings in BlackRock were worth $1,766,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. acquired a new stake in BlackRock in the fourth quarter valued at about $26,000. Birchbrook Inc. acquired a new position in BlackRock during the 4th quarter worth approximately $31,000. LFA Lugano Financial Advisors SA purchased a new position in shares of BlackRock during the 4th quarter worth approximately $32,000. Basepoint Wealth LLC purchased a new position in BlackRock in the fourth quarter worth $32,000. Finally, Swiss RE Ltd. acquired a new stake in BlackRock in the fourth quarter valued at $33,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock is expected to deliver another strong quarter, with Wall Street looking for Q2 EPS of $12.65 and revenue of $6.74 billion, both implying solid year-over-year growth and setting up a potentially favorable earnings reaction. Article Title
• Positive Sentiment: Investor demand for BlackRock’s cash-style ETF SGOV is surging, with assets nearing $100 billion, highlighting strong inflows into BlackRock’s ETF franchise and ongoing demand for its low-risk cash management products. Article Title
• Positive Sentiment: BlackRock’s tokenization and digital-asset initiatives are gaining traction, including BUIDL’s rapid asset growth and BlackRock’s role in a UK tokenization task force, reinforcing the company’s positioning in a fast-growing market. Article Title
• Neutral Sentiment: BlackRock continues to be discussed favorably in comparison pieces and ETF coverage, but these articles are more informational than stock-moving. Article Title
• Neutral Sentiment: Morgan Stanley lowered its price target on BlackRock to $1,383 from $1,430, but kept an overweight rating, so the signal is still positive overall despite slightly less upside. Article Title

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. UBS Group upped their price target on shares of BlackRock from $1,235.00 to $1,270.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Weiss Ratings upgraded shares of BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. decreased their price objective 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. Morgan Stanley lowered their target price on shares of BlackRock from $1,430.00 to $1,383.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group increased their target price on shares of BlackRock from $1,181.00 to $1,313.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,270.72.

BlackRock Stock Down 0.5%

BlackRock stock opened at $1,026.88 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. The firm has a market capitalization of $159.16 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The stock's fifty day moving average is $1,033.22 and its two-hundred day moving average is $1,042.90.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, beating analysts' consensus estimates of $12.40 by $0.13. The business had revenue of $6.70 billion during the quarter, compared to analysts' expectations of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The business's revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter last year, the business posted $9.64 earnings per share. Analysts predict that BlackRock will post 54.16 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, June 5th. BlackRock's dividend payout ratio is presently 57.53%.

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 33,900 shares of the 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 value of $35,613,645.00. Following the sale, the chief executive officer directly owned 230,516 shares in the company, valued at $242,168,583.80. This represents a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Robert Kapito sold 8,739 shares of the firm's 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 transaction, the president directly owned 210,186 shares of the company's stock, valued at approximately $222,082,527.60. This trade represents 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.

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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