BlackRock Canada announces increased portfolio turnover for iShares Jantzi Social Index ETF due to upcoming index changes.
Quiver AI Summary
BlackRock Asset Management Canada Limited has announced that the iShares Jantzi Social Index ETF is anticipated to undergo higher than usual portfolio turnover due to changes in the evaluation process of the Morningstar Jantzi Social Index, which it aims to replicate. A regular rebalance of the Index is scheduled for June 20, 2025, leading to increased transaction costs and potential net capital gains for the ETF, though the precise capital gains will not be confirmed until the end of its tax year on December 15, 2025. Morningstar, the index provider, will implement several changes effective June 20, including the renaming of the Index and moving to a semi-annual review. The ETF is managed by BlackRock Asset Management Canada Limited, which emphasizes financial well-being through its investment products.
Potential Positives
- BlackRock Canada is adapting its iShares Jantzi Social Index ETF to align with significant changes in the Morningstar Jantzi Social Index, showcasing responsiveness to evolving market standards and investor needs.
- The transition to semi-annual reviews of the Index may improve the ETF’s alignment with market trends and enhance its competitiveness in the ESG investing space.
- The expected realization of net capital gains may provide a favorable return for investors in the iShares ETF, enhancing its appeal among current and potential investors.
- The increase in portfolio turnover reflects active management strategies, which could enhance performance and investor confidence in actively managed ETFs.
Potential Negatives
- Expected higher than normal portfolio turnover may result in increased transaction costs, potentially impacting the ETF's performance.
- The realization of net capital gains due to the upcoming changes adds uncertainty regarding tax implications for investors until December 2025.
- The changes to the ESG exclusion criteria and constituent selection may cause concern among investors regarding the fund's alignment with their values and investment strategies.
FAQ
What is the iShares Jantzi Social Index ETF?
The iShares Jantzi Social Index ETF seeks to replicate the performance of the Morningstar Jantzi Social Index, net of expenses.
When will the iShares ETF undergo changes?
The iShares ETF will experience changes during the regularly scheduled rebalance on June 20, 2025.
What factors will affect the iShares ETF's capital gains?
Increased portfolio turnover and changes to the Index evaluation process may cause higher transaction costs and net capital gains.
How often will the Morningstar Jantzi Social Index be reviewed?
The Index will now be reviewed semi-annually in June and December, instead of once a year in March.
Where can I find more information about iShares ETFs?
For more details on iShares ETFs, visit www.blackrock.com/ca.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$BLK Congressional Stock Trading
Members of Congress have traded $BLK stock 14 times in the past 6 months. Of those trades, 6 have been purchases and 8 have been sales.
Here’s a breakdown of recent trading of $BLK stock by members of Congress over the last 6 months:
- REPRESENTATIVE DAN NEWHOUSE sold up to $15,000 on 04/11.
- REPRESENTATIVE JOSH GOTTHEIMER has traded it 2 times. They made 0 purchases and 2 sales worth up to $30,000 on 04/09, 04/01.
- REPRESENTATIVE JEFFERSON SHREVE has traded it 3 times. They made 2 purchases worth up to $200,000 on 04/07, 03/31 and 1 sale worth up to $100,000 on 02/24.
- REPRESENTATIVE GREG LANDSMAN has traded it 3 times. They made 1 purchase worth up to $15,000 on 12/19 and 2 sales worth up to $30,000 on 03/27, 02/18.
- REPRESENTATIVE TIM MOORE purchased up to $50,000 on 03/04.
- REPRESENTATIVE JULIE JOHNSON sold up to $15,000 on 02/24.
- SENATOR SHELLEY MOORE CAPITO sold up to $15,000 on 01/17.
- REPRESENTATIVE JAMES COMER has traded it 2 times. They made 2 purchases worth up to $30,000 on 01/02 and 0 sales.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$BLK Insider Trading Activity
$BLK insiders have traded $BLK stock on the open market 34 times in the past 6 months. Of those trades, 0 have been purchases and 34 have been sales.
Here’s a breakdown of recent trading of $BLK stock by insiders over the last 6 months:
- MARK WIEDMAN (Senior Managing Director) has made 0 purchases and 7 sales selling 36,190 shares for an estimated $37,851,104.
- J. RICHARD KUSHEL (Senior Managing Director) has made 0 purchases and 7 sales selling 32,430 shares for an estimated $32,063,608.
- CHRISTOPHER J. MEADE (General Counsel and CLO) has made 0 purchases and 9 sales selling 18,000 shares for an estimated $18,824,988.
- LAURENCE FINK (Chairman and CEO) has made 0 purchases and 11 sales selling 16,485 shares for an estimated $15,119,633.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$BLK Hedge Fund Activity
We have seen 22 institutional investors add shares of $BLK stock to their portfolio, and 1,556 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VANGUARD GROUP INC removed 13,308,201 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $13,642,369,927
- BLACKROCK, INC. removed 9,629,693 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $9,871,494,591
- STATE STREET CORP removed 5,983,583 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $6,133,830,769
- BANK OF AMERICA CORP /DE/ removed 5,258,248 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $5,390,282,607
- TEMASEK HOLDINGS (PRIVATE) LTD removed 5,092,825 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $5,220,705,835
- CAPITAL RESEARCH GLOBAL INVESTORS removed 4,702,362 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $4,820,438,309
- MORGAN STANLEY removed 4,607,764 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $4,723,464,954
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$BLK Analyst Ratings
Wall Street analysts have issued reports on $BLK in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Citigroup issued a "Buy" rating on 04/14/2025
- Deutsche Bank issued a "Buy" rating on 01/16/2025
- Goldman Sachs issued a "Buy" rating on 01/15/2025
- Wells Fargo issued a "Overweight" rating on 01/07/2025
To track analyst ratings and price targets for $BLK, check out Quiver Quantitative's $BLK forecast page.
$BLK Price Targets
Multiple analysts have issued price targets for $BLK recently. We have seen 2 analysts offer price targets for $BLK in the last 6 months, with a median target of $1167.5.
Here are some recent targets:
- Michael Brown from Wells Fargo set a target price of $1175.0 on 01/16/2025
- Benjamin Budish from Barclays set a target price of $1160.0 on 01/13/2025
Full Release
TORONTO, June 06, 2025 (GLOBE NEWSWIRE) -- BlackRock Asset Management Canada Limited (“ BlackRock Canada ”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (“ BlackRock ”) (NYSE: BLK), is announcing that iShares Jantzi Social Index ETF (the “ iShares ETF ”) is expected to experience higher than normal portfolio turnover as a result of upcoming changes to the evaluation process used to determine the composition of the Morningstar Jantzi Social Index (the “ Index ”). The iShares ETF seeks to replicate the performance of the Index, net of expenses. The composition of the Index will change as part of its regularly scheduled rebalance on June 20, 2025 (the “ Rebalance ”). As a result of the Rebalance, the iShares ETF may experience higher than normal transaction costs and is also expected to realize net capital gains. However, the iShares ETF’s total net capital gains income for the year will not be known until its tax year ends on December 15, 2025. The iShares ETF will follow its normal process for determining and distributing capital gains in December 2025.
Morningstar, Inc. (“ Morningstar ”), the index provider of the Index, announced that effective June 20, 2025: (1) the name of the Index will change to Morningstar Jantzi Social Index; (2) the Index will be reviewed semi-annually in June and December instead of annually in March; (3) the new parent benchmark for the Index will be the Morningstar Canada Large-Mid Index; and (4) certain other changes will be made by Morningstar to the ESG exclusions and constituent selection criteria for the Index.
For more information about the iShares ETF, please visit www.blackrock.com/ca .
About BlackRock
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate .
About iShares
iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1500+ exchange traded funds (ETFs) and US$4.3 trillion in assets under management as of March 31, 2025, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.
iShares® ETFs are managed by BlackRock Asset Management Canada Limited.
Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.
The ETF is not in any way sponsored, endorsed, sold or promoted by Morningstar. Morningstar does not accept any liability whatsoever to any person arising out of the use of the ETF or the underlying data. “Morningstar” is a trademark and is used under license.
Contact for Media:
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