Savant Capital LLC Sells 3,675 Shares of BlackRock $BLK

Key Points

• Savant Capital LLC cut its BlackRock stake by 48% in the fourth quarter, selling 3,675 shares and ending with 3,976 shares worth about $4.26 million.
• Institutional ownership remains high, with 80.69% of BlackRock shares held by institutions, and several firms recently added to or boosted their positions in the company.
• BlackRock’s latest quarter beat expectations on both earnings and revenue, while analysts keep a Moderate Buy consensus and an average price target of about $1,269.

Savant Capital LLC reduced its stake in shares of BlackRock (NYSE:BLK - Free Report) by 48.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,976 shares of the asset manager's stock after selling 3,675 shares during the period. Savant Capital LLC's holdings in BlackRock were worth $4,255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLK. Oak Harvest Investment Services grew its position in shares of BlackRock by 12,176.1% during the 4th quarter. Oak Harvest Investment Services now owns 1,595,153 shares of the asset manager's stock valued at $1,707,356,000 after acquiring an additional 1,582,159 shares during the period. Blue Owl Capital Holdings LP bought a new position in shares of BlackRock during the 4th quarter valued at approximately $1,012,487,000. Viking Global Investors LP grew its position in shares of BlackRock by 217.5% during the 3rd quarter. Viking Global Investors LP now owns 619,492 shares of the asset manager's stock valued at $722,247,000 after acquiring an additional 424,388 shares during the period. Vanguard Group Inc. grew its position in shares of BlackRock by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager's stock valued at $15,051,846,000 after acquiring an additional 221,123 shares during the period. Finally, Amundi grew its position in shares of BlackRock by 39.5% during the 3rd quarter. Amundi now owns 547,249 shares of the asset manager's stock valued at $645,354,000 after acquiring an additional 154,907 shares during the period. 80.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. BMO Capital Markets increased their target price on shares of BlackRock from $1,200.00 to $1,250.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Jefferies Financial Group dropped their price target on shares of BlackRock from $1,351.00 to $1,199.00 and set a "buy" rating on the stock in a research note on Wednesday, April 8th. Morgan Stanley upped their price target on shares of BlackRock from $1,368.00 to $1,393.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Barclays upped their price target on shares of BlackRock from $1,290.00 to $1,310.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Finally, Weiss Ratings upgraded shares of BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, BlackRock presently has a consensus rating of "Moderate Buy" and an average price target of $1,269.06.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 33,900 shares of the firm's stock in a transaction 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 owned 230,516 shares of the company's stock, valued at $242,168,583.80. This trade represents a 12.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Robert Kapito sold 8,739 shares of the firm's stock in a transaction 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 completion of the sale, the president directly owned 210,186 shares in the company, valued at approximately $222,082,527.60. This trade represents a 3.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is owned by company insiders.

BlackRock Stock Performance

NYSE BLK opened at $1,045.88 on Friday. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. 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 company has a market capitalization of $162.36 billion, a P/E ratio of 26.25, a P/E/G ratio of 1.36 and a beta of 1.44. The company has a fifty day moving average of $1,029.75 and a 200-day moving average of $1,053.69.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping analysts' consensus estimates of $12.40 by $0.13. The company had revenue of $6.70 billion for 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 firm's revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the company earned $9.64 EPS. As a group, equities research analysts predict that BlackRock will post 52.8 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 5th will be given a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, June 5th. BlackRock's dividend payout ratio (DPR) is presently 57.53%.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Several articles framed BlackRock as a strong dividend stock, which can support investor interest in BLK’s income profile and overall quality reputation. Why BlackRock (BLK) is a Great Dividend Stock Right Now
• Positive Sentiment: BlackRock’s recent earnings strength remains a backdrop for the stock, with the company having reported better-than-expected EPS and revenue in its latest quarter. This reinforces confidence in the firm’s fundamentals. BlackRock Scales Back Equities After ‘Generational’ Earnings
• Neutral Sentiment: BlackRock is trimming stock exposure in its model portfolios after a strong run in U.S. equities. That suggests a more cautious near-term stance, but it is more of an asset-allocation decision than a direct hit to BLK’s earnings. BlackRock Scales Back Equities After ‘Generational’ Earnings
• Neutral Sentiment: Texas is shifting its Bitcoin reserve from BlackRock’s IBIT ETF to direct custody, but the allocation is small and the move reflects a change in custody preference rather than a broad rejection of BlackRock’s crypto platform. Texas Bitcoin reserve plans shift from ETF to direct custody
• Negative Sentiment: U.S. spot Bitcoin ETFs saw large outflows, and BlackRock’s IBIT accounted for the biggest share of redemptions. That can weigh on sentiment around one of BLK’s most visible growth products. U.S. Bitcoin Spot ETFs Hit by $228M Outflow as IBIT Sees Heavy Exit
• Negative Sentiment: Additional reports said IBIT had near-record outflows as Bitcoin fell below $75,000, suggesting investors are pulling back from the product during the crypto selloff. BlackRock Bitcoin ETF sees near-record outflows as BTC dips below $75K
• Negative Sentiment: Another report described a large single-day withdrawal from a BlackRock ETF, reinforcing concerns that crypto ETF flows are weakening and may be creating short-term pressure on BLK sentiment. Mysterious trader dumps $1B from BlackRock ETF
• Negative Sentiment: BlackRock’s IBIT also saw heavy daily outflows in the latest ETF flow data, which may be contributing to the stock’s softer tone today. Texas Shifts Bitcoin Holdings from ETF to Direct Custody Control

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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