Heritage Investors Management Corp Increases Position in BlackRock $BLK

Key Points

• Heritage Investors Management Corp increased its BlackRock stake by 2.7% in the first quarter, bringing its holdings to 40,111 shares valued at about $38.6 million.
• Several other institutional investors also added to or initiated positions in BlackRock, and 80.69% of the stock is owned by institutions and hedge funds.
• BlackRock received a mix of supportive headlines, including the U.S. Treasury selecting its IVV and ITOT ETFs for the new Trump Accounts program, while analysts remain broadly positive with a consensus Moderate Buy rating and a $1,269.44 price target.

Heritage Investors Management Corp raised its position in shares of BlackRock (NYSE:BLK - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,111 shares of the asset manager's stock after buying an additional 1,065 shares during the period. BlackRock comprises about 1.2% of Heritage Investors Management Corp's holdings, making the stock its 22nd largest holding. Heritage Investors Management Corp's holdings in BlackRock were worth $38,575,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BLK. Physician Wealth Advisors Inc. raised its position in BlackRock by 10.1% in the 1st quarter. Physician Wealth Advisors Inc. now owns 337 shares of the asset manager's stock valued at $324,000 after purchasing an additional 31 shares in the last quarter. Smithbridge Asset Management Inc. DE acquired a new position in shares of BlackRock during the first quarter worth about $2,306,000. Petros Family Wealth LLC grew its position in shares of BlackRock by 10.8% during the first quarter. Petros Family Wealth LLC now owns 1,599 shares of the asset manager's stock worth $1,538,000 after buying an additional 156 shares in the last quarter. Essex Financial Services Inc. increased its stake in shares of BlackRock by 10.5% during the first quarter. Essex Financial Services Inc. now owns 864 shares of the asset manager's stock worth $831,000 after buying an additional 82 shares during the period. Finally, Fulton Bank N.A. raised its holdings in BlackRock by 2.7% in the first quarter. Fulton Bank N.A. now owns 3,493 shares of the asset manager's stock valued at $3,359,000 after acquiring an additional 92 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Key Stories 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?

Insider Buying and Selling

In other BlackRock news, CEO Laurence Fink sold 33,900 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the completion of the sale, the chief executive officer owned 230,516 shares in the company, valued at approximately $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the stock in a transaction that occurred 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 completion of the sale, the president directly owned 210,186 shares of the company's stock, valued at $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. Company insiders own 1.92% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BLK. The Goldman Sachs Group lifted their price target on shares of BlackRock from $1,181.00 to $1,313.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Morgan Stanley raised their price objective on shares of BlackRock from $1,393.00 to $1,430.00 and gave the company an "overweight" rating in a report on Friday, June 26th. TD Cowen decreased their price objective on shares of BlackRock from $1,238.00 to $1,105.00 and set a "hold" rating for the company in a research report on Thursday, April 9th. JPMorgan Chase & Co. lowered their target price on shares of BlackRock from $1,269.00 to $1,128.00 and set a "neutral" rating for the company in a research note on Monday, April 13th. Finally, Barclays increased their target price on BlackRock from $1,290.00 to $1,310.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued 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 price target of $1,269.44.

BlackRock Price Performance

Shares of NYSE:BLK opened at $994.50 on Friday. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The firm has a market capitalization of $154.38 billion, a P/E ratio of 24.96, a P/E/G ratio of 1.26 and a beta of 1.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09. The company's fifty day moving average price is $1,039.37 and its 200 day moving average price is $1,046.33.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.40 by $0.13. BlackRock had a net margin of 24.40% and a return on equity of 14.74%. The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the prior year, the firm posted $9.64 earnings per share. BlackRock's revenue for the quarter was up 27.0% on a year-over-year basis. As a group, sell-side analysts predict that BlackRock will post 53.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 5th were given a $5.73 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.3%. BlackRock's dividend payout ratio is 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.

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