Strathmore Capital Advisors Inc. acquired a new position in shares of BlackRock (NYSE:BLK – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 745 shares of the asset manager’s stock, valued at approximately $773,000.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new position in BlackRock during the second quarter worth $9,747,857,000. Corient Private Wealth LLC increased its stake in BlackRock by 5,190.3% in the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after purchasing an additional 5,386,640 shares in the last quarter. Norges Bank bought a new stake in BlackRock in the fourth quarter valued at $2,742,680,000. Auto Owners Insurance Co raised its holdings in shares of BlackRock by 106,934.0% during the fourth quarter. Auto Owners Insurance Co now owns 1,284,408 shares of the asset manager’s stock valued at $128,441,000 after purchasing an additional 1,283,208 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of BlackRock by 200.5% during the fourth quarter. Wellington Management Group LLP now owns 1,451,122 shares of the asset manager’s stock valued at $1,553,194,000 after purchasing an additional 968,245 shares during the period. Institutional investors own 80.69% of the company’s stock.
BlackRock News Summary
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: U.S. spot Bitcoin ETFs attracted $189.3 million in net inflows Tuesday, bringing August inflows near $951 million. BlackRock’s iShares Bitcoin Trust led with $143.6 million, signaling continued investor demand for one of BlackRock’s fastest-growing product areas. Bitcoin ETFs add $189M as August net inflows approach $1B
- Positive Sentiment: BlackRock reiterated that Bitcoin remains a viable diversification asset after its sharp selloff and said a 1%–2% allocation could improve risk-adjusted returns in a traditional portfolio. The supportive stance may help sustain interest in BlackRock’s crypto offerings. Bitcoin has largely purged froth, BlackRock says
- Positive Sentiment: BlackRock disclosed a roughly $3.45 billion stake in Biogen, whose shares reached a 52-week high after an earnings beat and upgraded outlook. The investment highlights the scale of BlackRock’s asset-management platform, though gains primarily accrue to fund investors rather than directly to BLK earnings. Biogen stock surges after BlackRock investment
- Neutral Sentiment: BlackRock Canada announced monthly cash distributions for numerous iShares ETFs, with payments scheduled for August 31 to investors of record on August 26. The announcement supports product visibility and investor engagement but does not materially change BlackRock’s earnings outlook. BlackRock Canada announces August cash distributions
- Neutral Sentiment: BlackRock’s HPS private-credit unit was reported among creditors taking over MBS Group alongside Oaktree Capital. The development may demonstrate private-credit activity, while also highlighting potential credit and workout risks. BlackRock’s HPS among creditors taking over MBS Group
- Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims involving BlackRock mutual funds, alleging that the company may have provided materially misleading business information. The announcement is not a finding of wrongdoing, but could create legal costs, reputational risk and investor uncertainty. Rosen Law Firm investigates BlackRock mutual funds
BlackRock Trading Up 0.4%
BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same period in the previous year, the firm earned $12.05 EPS. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. On average, analysts predict that BlackRock will post 55.63 EPS for the current fiscal year.
BlackRock Announces Dividend
The company 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 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 payout ratio is 54.78%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on BLK shares. The Goldman Sachs Group restated a “buy” rating and issued a $1,389.00 target price on shares of BlackRock in a research note on Thursday, July 16th. BNP Paribas Exane upped their price target on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Keefe, Bruyette & Woods lowered BlackRock from a “moderate buy” rating to a “hold” rating in a report on Friday, August 7th. Weiss Ratings cut BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upgraded BlackRock from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $1,311.06.
View Our Latest Report on BlackRock
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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