E. Ohman J or Asset Management AB grew its holdings in BlackRock (NYSE:BLK – Free Report) by 17.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,612 shares of the asset manager’s stock after purchasing an additional 6,361 shares during the period. BlackRock comprises approximately 1.0% of E. Ohman J or Asset Management AB’s holdings, making the stock its 22nd largest holding. E. Ohman J or Asset Management AB’s holdings in BlackRock were worth $40,974,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Legal & General Group Plc raised its position in BlackRock by 0.8% during the 4th quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager’s stock valued at $985,331,000 after purchasing an additional 7,457 shares in the last quarter. Texas Yale Capital Corp. lifted its holdings in shares of BlackRock by 32.2% in the 4th quarter. Texas Yale Capital Corp. now owns 5,764 shares of the asset manager’s stock worth $6,169,000 after buying an additional 1,405 shares during the period. Thrivent Financial for Lutherans grew its position in shares of BlackRock by 94.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 26,828 shares of the asset manager’s stock worth $28,720,000 after buying an additional 13,040 shares in the last quarter. Capital Research Global Investors grew its position in shares of BlackRock by 0.3% during the 4th quarter. Capital Research Global Investors now owns 3,838,937 shares of the asset manager’s stock worth $4,108,968,000 after buying an additional 12,019 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of BlackRock by 6.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 43,750 shares of the asset manager’s stock valued at $46,827,000 after buying an additional 2,767 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.
Key Headlines Impacting BlackRock
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: New Canada ETF combines equities and Bitcoin: BlackRock Canada launched the iShares Equity + Bitcoin ETF Portfolio (IBQT), which allocates approximately 97% to diversified global equities and 3% to Bitcoin through BlackRock’s Canadian iShares Bitcoin ETF. The product could support long-term fee revenue and strengthen BlackRock’s position in the growing digital-asset market. BlackRock launches two Canada ETFs, with one allocating 3% to Bitcoin
- Positive Sentiment: AI infrastructure opportunities expand: BlackRock is reportedly participating in a partnership with Nvidia and other financial firms aimed at mobilizing more than $500 billion for AI infrastructure, including chips, power and data centers. BlackRock also agreed to a roughly $14 billion AI data-center ownership partnership with Meta in El Paso, potentially creating new infrastructure-management and investment opportunities. Nvidia Forms Financial Partnerships to Fuel AI Factory Boom
- Positive Sentiment: Workforce agreement supports infrastructure ambitions: BlackRock, North America’s Building Trades Unions and the AI Infrastructure Partnership signed an agreement focused on staffing data-center and energy projects, supply-chain resilience and domestic economic development. The arrangement may help reduce execution and labor risks for large infrastructure investments. BlackRock Signs Deal With Labor Unions for AI Construction Jobs
- Neutral Sentiment: Bitcoin demand remains supportive but volatile: Bitcoin ETFs recorded approximately $854 million in combined inflows over five days, led by BlackRock’s IBIT. Strong flows could benefit IBIT-related assets and fees, but cryptocurrency prices and fund demand remain sensitive to interest-rate expectations and upcoming economic data. Bitcoin ETFs Draw $854M Over Five Days as Rate-Hike Bets Fade
- Negative Sentiment: Private-credit concerns remain a risk: BlackRock TCP Capital, a managed business development company, is selling a $523 million portfolio of private-credit investments to reduce leverage and strengthen its balance sheet. Although the transaction involves the BDC rather than BlackRock’s corporate balance sheet, it highlights pressure in parts of the private-credit business and could create investor caution. BlackRock Offloads $523 Million in Loans to Rescue Troubled Private Credit Fund
BlackRock Stock Down 0.7%
BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same period in the previous year, the company earned $12.05 earnings per share. On average, equities analysts anticipate that BlackRock will post 55.63 earnings per share for the current fiscal year.
BlackRock Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be paid a dividend of $5.73 per share. This represents a $22.92 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, September 8th. BlackRock’s payout ratio is 54.78%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on BLK. Morgan Stanley lifted their price objective on BlackRock from $1,383.00 to $1,488.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. BMO Capital Markets raised their target price 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. Weiss Ratings upgraded shares of BlackRock from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Barclays boosted their price target 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. Finally, JPMorgan Chase & Co. raised shares of BlackRock from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, BlackRock currently has an average rating of “Buy” and an average price target of $1,311.06.
Read Our Latest Stock Report on BLK
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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