GSA Capital Partners LLP bought a new position in shares of BlackRock (NYSE:BLK – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 533 shares of the asset manager’s stock, valued at approximately $513,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BLK. RMG Wealth Management LLC acquired a new position in BlackRock in the first quarter valued at about $25,000. Evolution Wealth Management Inc. bought a new stake in shares of BlackRock during the 4th quarter worth $26,000. Birchbrook Inc. bought a new position in BlackRock in the fourth quarter valued at about $31,000. LFA Lugano Financial Advisors SA bought a new position in BlackRock in the fourth quarter valued at about $32,000. Finally, Basepoint Wealth LLC acquired a new position in BlackRock during the fourth quarter worth about $32,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lowered shares of BlackRock from a “moderate buy” rating to a “hold” rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,258.00 price target on shares of BlackRock in a report on Thursday, July 16th. Evercore reiterated an “outperform” rating and set a $1,260.00 price target on shares of BlackRock in a report on Monday, August 10th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,389.00 price objective on shares of BlackRock in a research note on Thursday, July 16th. Finally, Zacks Research upgraded BlackRock from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $1,311.06.
More BlackRock News
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 Stock Performance
Shares of BlackRock stock opened at $1,157.28 on Friday. The business has a 50-day simple moving average of $1,067.74 and a 200 day simple moving average of $1,044.23. BlackRock has a one year low of $917.39 and a one year high of $1,219.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a market capitalization of $179.23 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.28 and a beta of 1.42.
BlackRock (NYSE:BLK – Get Free Report) last released 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. The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The business’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same period last year, the firm earned $12.05 earnings per share. On average, research analysts anticipate that BlackRock will post 55.64 earnings per share for the current fiscal year.
BlackRock Dividend Announcement
The company also recently announced 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. The ex-dividend date is Tuesday, September 8th. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. BlackRock’s dividend payout ratio is currently 54.78%.
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.
Read More
- Five stocks we like better than BlackRock
- Blueprint for a Boom: SEC Clears the Crypto Runway
- Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss
- Advance Auto Parts Plunged, But Its Turnaround Is Still Working
- Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock (NYSE:BLK – Free Report).
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.
