Jones Financial Companies Lllp bought a new stake in BlackRock (NYSE:BLK – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 18,743 shares of the asset manager’s stock, valued at approximately $18,023,000.
Several other institutional investors also recently made changes to their positions in BLK. Evolution Wealth Management Inc. purchased a new position in shares of BlackRock in the 4th quarter valued at about $26,000. RMG Wealth Management LLC purchased a new position in BlackRock in the 1st quarter valued at approximately $25,000. Addison Advisors LLC acquired a new position in BlackRock during the second quarter worth $25,000. Birchbrook Inc. acquired a new position in BlackRock during the fourth quarter worth $31,000. Finally, Basepoint Wealth LLC acquired a new stake in BlackRock in the fourth quarter valued at $32,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
BLK has been the subject of several research reports. Weiss Ratings downgraded BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Zacks Research upgraded BlackRock from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. UBS Group boosted their price target on BlackRock from $1,270.00 to $1,320.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. BMO Capital Markets increased their price objective on shares of BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Finally, BNP Paribas Exane upped their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $1,311.06.
BlackRock Price Performance
Shares of BLK stock opened at $1,171.83 on Tuesday. The firm has a fifty day moving average of $1,070.33 and a two-hundred day moving average of $1,044.42. The firm has a market cap of $181.48 billion, a P/E ratio of 28.01, a P/E/G ratio of 1.28 and a beta of 1.42. BlackRock has a 1-year low of $917.39 and a 1-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.
BlackRock (NYSE:BLK – Get Free Report) last issued 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 business 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 company’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $12.05 EPS. As a group, research analysts anticipate that BlackRock will post 55.86 earnings per share for the current fiscal year.
BlackRock Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be paid a dividend of $5.73 per share. The ex-dividend date is Tuesday, September 8th. This represents a $22.92 annualized dividend and a yield of 2.0%. BlackRock’s dividend payout ratio is presently 54.78%.
More BlackRock News
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: BlackRock’s roughly $965 million investment in Five Below (NASDAQ: FIVE) helped draw attention to its ability to deploy capital into high-growth companies. Five Below also reported strong quarterly results, sending its shares to a record high and potentially highlighting the value of BlackRock’s investment activity. Five Below Stock Soars Following BlackRock Investment
- Positive Sentiment: BlackRock’s covered-call Bitcoin fund reportedly made its first monthly distribution, with an annualized rate of about 18.5%. The product could create a new fee and asset-gathering opportunity, although the high distribution reflects option income and may limit upside participation in Bitcoin. BlackRock Bitcoin Fund Pays First Dividend
- Neutral Sentiment: BlackRock has reiterated that its long-term investment case for Bitcoin remains intact despite a sharp correction. The comments support the firm’s broader digital-asset strategy, but do not directly affect near-term earnings unless they lead to additional fund inflows. BlackRock’s Long-Term Bitcoin Thesis
- Neutral Sentiment: Routine disclosures showed BlackRock subsidiaries’ holdings in Stora Enso fell below 5%, while other reports discussed BlackRock ETFs. These items have limited immediate implications for BLK’s fundamentals. BlackRock Subsidiaries Report Stora Enso Holdings
- Negative Sentiment: BlackRock is reportedly seeking buyers for approximately $671 million of loans held by TCP Capital, using Keefe, Bruyette & Woods to explore a sale. The move is intended to reshape the private-credit vehicle after a difficult period, but it may raise concerns about credit quality, valuation and execution in BlackRock’s private-markets platform. BlackRock Puts TCP Capital Loans on the Block
- Negative Sentiment: A law firm is soliciting investors who experienced losses in BlackRock mutual funds as part of an investigation into alleged misleading disclosures. The announcement is not a formal finding, but it adds legal and reputational risk. BlackRock Investor Rights Investigation
BlackRock 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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