Investor s Fiduciary Advisor Network LLC bought a new stake in shares of BlackRock (NYSE:BLK – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 494 shares of the asset manager’s stock, valued at approximately $475,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. RMG Wealth Management LLC purchased a new stake in BlackRock in the first quarter worth $25,000. Addison Advisors LLC purchased a new stake in shares of BlackRock in the 2nd quarter worth approximately $25,000. Evolution Wealth Management Inc. purchased a new stake in BlackRock during the fourth quarter worth $26,000. Meeder Asset Management Inc. purchased a new stake in shares of BlackRock during the 2nd quarter worth $30,000. Finally, Birchbrook Inc. bought a new stake in shares of BlackRock in the 4th quarter valued at about $31,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
BLK has been the subject of a number of recent analyst reports. Evercore reissued an “outperform” rating and issued a $1,260.00 price objective on shares of BlackRock in a research report on Monday, August 10th. Zacks Research upgraded shares of BlackRock from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Barclays upped their price objective 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. BMO Capital Markets increased their price target on BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Finally, UBS Group raised their price objective on shares of BlackRock from $1,270.00 to $1,320.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, BlackRock presently has a consensus rating of “Buy” and a consensus price target of $1,311.06.
BlackRock Price Performance
NYSE:BLK opened at $1,157.28 on Monday. The stock has a 50 day moving average of $1,067.74 and a two-hundred day moving average of $1,043.70. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.33. The firm has a market cap of $179.23 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42.
BlackRock (NYSE:BLK – Get Free Report) last announced 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 company had revenue of $7.08 billion for 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%.The firm’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter last year, the firm posted $12.05 EPS. On average, analysts expect that BlackRock will post 55.86 earnings per share for the current fiscal year.
BlackRock Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be issued 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 dividend payout ratio (DPR) is currently 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.
Featured Articles
- Five stocks we like better than BlackRock
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
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.
