Assenagon Asset Management S.A. boosted its stake in BlackRock (NYSE:BLK – Free Report) by 48.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 174,033 shares of the asset manager’s stock after purchasing an additional 57,143 shares during the quarter. Assenagon Asset Management S.A.’s holdings in BlackRock were worth $167,343,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in BLK. Vanguard Group Inc. boosted its stake 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 purchasing an additional 221,123 shares in the last quarter. State Street Corp raised its stake in BlackRock by 0.5% in the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock worth $6,705,193,000 after buying an additional 33,752 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in BlackRock by 5,190.3% in the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock worth $5,876,618,000 after buying an additional 5,386,640 shares during the period. Temasek Holdings Private Ltd lifted its holdings in BlackRock by 4.7% in the first quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock worth $5,126,387,000 after buying an additional 237,667 shares during the period. Finally, Bank of America Corp DE boosted its position in BlackRock by 0.7% during the 1st quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager’s stock valued at $5,032,603,000 after acquiring an additional 35,069 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,258.00 target price on shares of BlackRock in a report on Thursday, July 16th. JPMorgan Chase & Co. upgraded BlackRock from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $1,165.00 to $1,364.00 in a research report on Thursday, July 16th. UBS Group upped their price target on BlackRock from $1,270.00 to $1,320.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,389.00 price objective on shares of BlackRock in a report on Thursday, July 16th. Finally, Morgan Stanley raised their price objective on BlackRock from $1,383.00 to $1,488.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of “Buy” and an average target price of $1,304.29.
BlackRock Price Performance
BLK stock opened at $1,128.98 on Friday. 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 50 day moving average price of $1,037.16 and a 200-day moving average price of $1,041.54. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. The firm has a market capitalization of $174.98 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.28 and a beta of 1.42.
BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a return on equity of 15.01% and a net margin of 24.09%.The company had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same quarter last year, the company earned $12.05 EPS. The firm’s revenue for the quarter was up 30.6% on a year-over-year basis. Equities research analysts forecast that BlackRock will post 55.63 EPS for the current fiscal year.
BlackRock Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be given a $5.73 dividend. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 8th. BlackRock’s payout ratio is currently 54.78%.
More BlackRock News
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: BlackRock is promoting model portfolios as a way to bring private-market funds to affluent individual investors. Wider distribution could increase fee-generating assets and strengthen BlackRock’s position in alternatives. Wall Street touts outsourced allocation ploy in bid to market private funds to individuals
- Positive Sentiment: BlackRock is expanding blockchain-based products, including tokenized European money-market funds through JPMorgan’s Kinexys platform. The initiative supports long-term growth in digital assets and institutional liquidity products. BlackRock brings tokenized money market funds to Europe via JPMorgan
- Positive Sentiment: BlackRock is among the validators for Circle’s planned Arc blockchain and intends to deploy its BUIDL digital liquidity fund on the network. The relationship could help accelerate adoption of tokenized securities and reinforce BlackRock’s digital-asset leadership. Blueprint for a Banking Fortress: Circle Redraws the Map
- Neutral Sentiment: BlackRock will conduct a one-for-three reverse split of its iShares Ethereum Trust ETF (ETHA). The action raises the per-share price but does not change investors’ proportional ownership or the fund’s underlying value. BlackRock’s Ethereum ETF To Undergo 1-For-3 Reverse Split
- Negative Sentiment: BlackRock TCP Capital Corp. (NASDAQ: TCPC), an affiliated business-development company, is transferring approximately $523 million of loans—nearly half of its debt investments—to a Pantheon-backed fund while cutting leverage and reviewing strategic options. The move may reduce risk, but the scale of the restructuring highlights stress in private credit and could weigh on sentiment toward BlackRock’s alternatives platform. BlackRock Offloads $523 Million in Loans to Rescue Troubled Private Credit Fund
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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