TRB Wealth Management LLC purchased a new position in BlackRock (NYSE:BLK – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,026 shares of the asset manager’s stock, valued at approximately $987,000.
Several other large investors have also recently modified their holdings of the company. Sumitomo Life Insurance Co. acquired a new position in shares of BlackRock during the second quarter worth $1,556,000. Landscape Capital Management L.L.C. purchased a new position in shares of BlackRock in the second quarter worth about $1,007,000. Korea Investment CORP purchased a new position in BlackRock during the 2nd quarter worth approximately $61,071,000. EP Wealth Advisors LLC purchased a new position in shares of BlackRock during the second quarter worth $74,635,000. Finally, Rakuten Securities Inc. purchased a new position in shares of BlackRock during the 2nd quarter valued at about $183,000. Institutional investors own 80.69% of the company’s stock.
Wall Street Analysts Forecast Growth
BLK has been the subject of several recent research reports. Barclays lifted their target price on shares of BlackRock from $1,340.00 to $1,450.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Bank of America increased their target price on BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a report on Thursday, July 16th. BNP Paribas Exane raised their price target on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Evercore reiterated an “outperform” rating and set a $1,260.00 price objective on shares of BlackRock in a research report on Monday, August 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,389.00 target price on shares of BlackRock in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $1,311.06.
BlackRock Price Performance
BlackRock stock opened at $1,157.28 on Friday. The firm has a market cap of $179.23 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. The company’s 50 day moving average is $1,067.74 and its two-hundred day moving average is $1,044.23.
BlackRock (NYSE:BLK – Get Free Report) last released its 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. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.BlackRock’s revenue was up 30.6% compared to the same quarter last year. During the same period last year, the business posted $12.05 earnings per share. On average, research analysts expect that BlackRock will post 55.64 EPS for the current fiscal year.
BlackRock Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be issued a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Tuesday, September 8th. BlackRock’s dividend payout ratio (DPR) is presently 54.78%.
Trending Headlines about BlackRock
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: Strong Bitcoin ETF demand could support fee revenue. BlackRock’s iShares Bitcoin Trust led recent U.S. spot Bitcoin ETF inflows, including $284.7 million in one session and $588.5 million over three days. Continued cryptocurrency demand could increase assets under management and fee income. Bitcoin ETF Inflows Hit $517M While BTC Tests Key Resistance
- Positive Sentiment: Dividend appeal is drawing investor attention. A recent analysis describes BlackRock as an attractive dividend stock, reinforcing the company’s appeal to income-oriented investors after its latest quarter exceeded expectations on both earnings and revenue. Why BlackRock Is a Great Dividend Stock Right Now
- Positive Sentiment: BlackRock continues deploying capital and expanding alternative-asset exposure. The firm and Oaktree seized debt-laden movie servicer MBS, highlighting potential opportunities in distressed and private credit markets, though such investments also carry execution risk. BlackRock, Oaktree Seize Debt-Laden Movie Servicer MBS
- Neutral Sentiment: Large Qiagen stake creates potential strategic upside but adds concentration risk. Dutch regulatory filings show BlackRock owns roughly 11.5% of Qiagen’s capital and more than 12% of its voting rights. The holding demonstrates significant investment activity, but the filings do not indicate a change in BlackRock’s operating outlook. BlackRock Reveals Stake in Qiagen
- Negative Sentiment: A law firm’s investigation remains an overhang. Rosen Law Firm is seeking investors who may have suffered losses in BlackRock mutual funds amid allegations that business information was materially misleading. This is only an investigation announcement, not a finding of wrongdoing, but it could create reputational and legal risk. BlackRock Investor News
BlackRock Company 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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