Mowery & Schoenfeld Wealth Management LLC purchased a new stake in BlackRock (NYSE:BLK – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 570 shares of the asset manager’s stock, valued at approximately $548,000. BlackRock makes up 0.7% of Mowery & Schoenfeld Wealth Management LLC’s portfolio, making the stock its 25th largest holding.
Other institutional investors have also added to or reduced their stakes in the company. M. Kulyk & Associates LLC bought a new stake in shares of BlackRock during the 2nd quarter valued at about $7,146,000. Meeder Advisory Services Inc. purchased a new stake in BlackRock in the second quarter worth about $3,976,000. Meeder Asset Management Inc. bought a new stake in BlackRock during the 2nd quarter valued at approximately $30,000. Tiemann Investment Advisors LLC bought a new position in shares of BlackRock in the 2nd quarter worth approximately $325,000. Finally, Citizens Financial Group Inc. RI bought a new position in shares of BlackRock in the 2nd quarter worth approximately $5,062,000. 80.69% of the stock is currently owned by institutional investors.
BlackRock Stock Up 0.8%
BLK stock opened at $1,155.78 on Wednesday. The business has a 50 day moving average of $1,059.83 and a 200 day moving average of $1,043.05. The firm has a market cap of $179.00 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 1.32 and a beta of 1.42. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. 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 Dividend Announcement
The business also recently announced 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 dividend on an annualized basis and a 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%.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on BLK shares. Keefe, Bruyette & Woods lowered BlackRock from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 7th. BNP Paribas Exane increased 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. BMO Capital Markets boosted their target price on shares of BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Morgan Stanley upped their target price on shares of BlackRock from $1,383.00 to $1,488.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Barclays increased their price target on shares of BlackRock from $1,340.00 to $1,450.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Two equities research 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 company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $1,311.06.
Get Our Latest Report on BlackRock
More BlackRock News
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: Bitcoin strategy remains supportive: BlackRock said Bitcoin’s investment case is unchanged despite its recent decline, maintaining that a small allocation—up to 2% of a portfolio—can provide diversification. The comments reinforce confidence in BlackRock’s digital-asset offerings, including the iShares Bitcoin Trust (IBIT). Bitcoin’s Investment Case Hasn’t Changed, BlackRock Says
- Positive Sentiment: Institutional interest in IBIT: A filing showed Jane Street held more than $1 billion in spot Bitcoin ETF shares as of June 30, including approximately $828 million in BlackRock’s IBIT. Although the snapshot does not reflect current holdings, it highlights institutional adoption of BlackRock’s crypto ETF. Jane Street Reports Over $1 Billion in Bitcoin ETF Shares
- Positive Sentiment: Technical outlook improved: BlackRock’s 50-day moving average recently moved above its 200-day average, forming a “golden cross,” a signal that can attract momentum-oriented investors. BlackRock Technical Outlook
- Positive Sentiment: Income appeal: BlackRock continues to be highlighted as a dividend-paying investment manager with favorable analyst sentiment and potential price-target upside. Dividend Stocks and Income Investing
- Neutral Sentiment: Portfolio disclosure: BlackRock was identified as a major shareholder of Qiagen, but the regulatory filing primarily reflects an investment holding and does not indicate a material change to BlackRock’s operating outlook. BlackRock Revealed as Major Qiagen Shareholder
- Negative Sentiment: Data-center insurance risk: BlackRock and Meta’s $14 billion Texas data-center project reportedly faces an insurance gap, potentially exposing lenders and investors to substantial losses from catastrophic events. The issue could raise concerns about risk management and financing for large infrastructure investments. Meta and BlackRock Data Center Insurance Risk
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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