Danica Pension Livsforsikringsaktieselskab Makes New Investment in BlackRock $BLK

Danica Pension Livsforsikringsaktieselskab bought a new position in shares of BlackRock (NYSE:BLK – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,768 shares of the asset manager’s stock, valued at approximately $13,239,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Rather & Kittrell Inc. lifted its position in BlackRock by 2.1% during the 4th quarter. Rather & Kittrell Inc. now owns 430 shares of the asset manager’s stock worth $461,000 after acquiring an additional 9 shares during the period. Oakworth Capital Inc. raised its stake in shares of BlackRock by 1.2% during the fourth quarter. Oakworth Capital Inc. now owns 755 shares of the asset manager’s stock worth $808,000 after purchasing an additional 9 shares during the last quarter. McIlrath & Eck LLC lifted its holdings in shares of BlackRock by 5.0% during the fourth quarter. McIlrath & Eck LLC now owns 212 shares of the asset manager’s stock worth $227,000 after purchasing an additional 10 shares during the period. Manske Wealth Management lifted its holdings in shares of BlackRock by 3.0% during the fourth quarter. Manske Wealth Management now owns 345 shares of the asset manager’s stock worth $369,000 after purchasing an additional 10 shares during the period. Finally, Gibson Capital LLC grew its position in BlackRock by 3.4% in the 4th quarter. Gibson Capital LLC now owns 308 shares of the asset manager’s stock valued at $330,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

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BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Bitcoin strategy remains supportive: BlackRock said Bitcoin’s investment case is unchanged despite its recent decline, maintaining that a small allocation—up to 2% of a portfolio—can provide diversification. The comments reinforce confidence in BlackRock’s digital-asset offerings, including the iShares Bitcoin Trust (IBIT). Bitcoin’s Investment Case Hasn’t Changed, BlackRock Says
• Positive Sentiment: Institutional interest in IBIT: A filing showed Jane Street held more than $1 billion in spot Bitcoin ETF shares as of June 30, including approximately $828 million in BlackRock’s IBIT. Although the snapshot does not reflect current holdings, it highlights institutional adoption of BlackRock’s crypto ETF. Jane Street Reports Over $1 Billion in Bitcoin ETF Shares
• Positive Sentiment: Technical outlook improved: BlackRock’s 50-day moving average recently moved above its 200-day average, forming a “golden cross,” a signal that can attract momentum-oriented investors. BlackRock Technical Outlook
• Positive Sentiment: Income appeal: BlackRock continues to be highlighted as a dividend-paying investment manager with favorable analyst sentiment and potential price-target upside. Dividend Stocks and Income Investing
• Neutral Sentiment: Portfolio disclosure: BlackRock was identified as a major shareholder of Qiagen, but the regulatory filing primarily reflects an investment holding and does not indicate a material change to BlackRock’s operating outlook. BlackRock Revealed as Major Qiagen Shareholder
• Negative Sentiment: Data-center insurance risk: BlackRock and Meta’s $14 billion Texas data-center project reportedly faces an insurance gap, potentially exposing lenders and investors to substantial losses from catastrophic events. The issue could raise concerns about risk management and financing for large infrastructure investments. Meta and BlackRock Data Center Insurance Risk

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BLK. The Goldman Sachs Group restated a “buy” rating and set a $1,389.00 price objective on shares of BlackRock in a research report on Thursday, July 16th. Keefe, Bruyette & Woods downgraded shares of BlackRock from a “moderate buy” rating to a “hold” rating in a report on Friday, August 7th. Weiss Ratings lowered shares of BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. BMO Capital Markets raised their price objective on shares of BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Finally, UBS Group lifted their price objective on BlackRock from $1,270.00 to $1,320.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $1,311.06.

View Our Latest Stock Report on BLK

BlackRock Price Performance

Shares of NYSE BLK opened at $1,155.78 on Wednesday. The firm has a market capitalization of $179.00 billion, a P/E ratio of 27.62, a PEG ratio of 1.32 and a beta of 1.42. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The company’s fifty day moving average is $1,059.83 and its two-hundred day moving average is $1,043.05. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59.

BlackRock (NYSE:BLK – Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter last year, the firm posted $12.05 EPS. The business’s revenue was up 30.6% compared to the same quarter last year. Analysts forecast that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be issued a $5.73 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.0%. BlackRock’s dividend payout ratio (DPR) is 54.78%.

About BlackRock

(Free Report)

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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