Haverford Trust Co acquired a new stake in BlackRock (NYSE:BLK – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 275,074 shares of the asset manager’s stock, valued at approximately $264,500,000. BlackRock makes up about 2.3% of Haverford Trust Co’s holdings, making the stock its 12th biggest position. Haverford Trust Co owned 0.18% of BlackRock at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in BLK. Evolution Wealth Management Inc. acquired a new stake in shares of BlackRock during the 4th quarter worth $26,000. RMG Wealth Management LLC bought a new position in shares of BlackRock in the 1st quarter valued at $25,000. Addison Advisors LLC acquired a new stake in BlackRock during the 2nd quarter worth approximately $25,000. Birchbrook Inc. bought a new stake in shares of BlackRock in the fourth quarter worth $31,000. Finally, Basepoint Wealth LLC bought a new position in BlackRock during the 4th quarter worth $32,000. 80.69% of the stock is owned by institutional investors.
BlackRock Stock Up 1.5%
Shares of NYSE BLK opened at $1,157.28 on Friday. BlackRock has a one year low of $917.39 and a one 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. The firm’s 50 day simple moving average is $1,067.74 and its two-hundred day simple moving average is $1,044.23. The stock has a market capitalization of $179.23 billion, a P/E ratio of 27.66, a PEG ratio of 1.30 and a beta of 1.42.
BlackRock Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be given a $5.73 dividend. 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 presently 54.78%.
Key Stories Impacting 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
Wall Street Analysts Forecast Growth
A number of research firms recently commented on BLK. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,258.00 price objective 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 report on Tuesday, June 23rd. Zacks Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. UBS Group lifted their price objective on shares of BlackRock from $1,270.00 to $1,320.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, BMO Capital Markets boosted their target price 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. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $1,311.06.
Get 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.
Featured Stories
- Five stocks we like better than BlackRock
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
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.
