IFP Advisors Inc raised its stake in shares of BlackRock (NYSE:BLK – Free Report) by 28.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 5,105 shares of the asset manager’s stock after purchasing an additional 1,141 shares during the period. IFP Advisors Inc’s holdings in BlackRock were worth $4,909,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Gibson Capital LLC increased its holdings in shares of BlackRock by 3.4% in the fourth quarter. Gibson Capital LLC now owns 308 shares of the asset manager’s stock worth $330,000 after buying an additional 10 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of BlackRock by 4.5% during the fourth quarter. Cornerstone Wealth Management LLC now owns 230 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 10 shares during the last quarter. Great Diamond Partners LLC grew its stake in shares of BlackRock by 0.4% in the 4th quarter. Great Diamond Partners LLC now owns 2,791 shares of the asset manager’s stock worth $2,987,000 after buying an additional 10 shares during the last quarter. Thoroughbred Financial Services LLC grew its stake in shares of BlackRock by 1.7% in the fourth quarter. Thoroughbred Financial Services LLC now owns 593 shares of the asset manager’s stock worth $635,000 after acquiring an additional 10 shares during the last quarter. Finally, Breakwater Capital Group increased its stake in BlackRock by 3.8% during the 1st quarter. Breakwater Capital Group now owns 271 shares of the asset manager’s stock valued at $261,000 after purchasing an additional 10 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.
BlackRock Trading Down 0.8%
Shares of NYSE BLK opened at $1,063.01 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. The business’s 50 day moving average price is $1,102.10 and its 200-day moving average price is $1,049.30. BlackRock has a fifty-two week low of $917.39 and a fifty-two week high of $1,219.94. The company has a market cap of $164.63 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 1.18 and a beta of 1.41.
BlackRock Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be paid a $5.73 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $22.92 annualized dividend and a yield of 2.2%. BlackRock’s dividend payout ratio is 54.78%.
BlackRock News Roundup
Here are the key news stories impacting BlackRock this week:
- Positive Sentiment: BlackRock’s iShares investment strategy leadership said artificial intelligence remains a long-term opportunity following strong second-quarter earnings across the sector. Continued investor interest in AI-focused ETFs could support flows and fee revenue for the asset manager. What comes next for ETF investors staked in the AI trade in Q3?
- Positive Sentiment: BlackRock-managed funds are participating in a roughly $1 billion equity investment in Adani Airport Holdings. The transaction expands BlackRock’s exposure to India’s infrastructure growth and may generate additional asset-management activity, although the investment itself is made for clients rather than directly by BlackRock. Adani Airports to raise approximately $1 billion
- Neutral Sentiment: A report highlighted BlackRock’s technology-focused closed-end funds, including one trading at a discount and offering substantial monthly distributions. The coverage could increase visibility for BlackRock products, but the distributions and market discount primarily affect fund investors rather than BlackRock’s corporate earnings. BlackRock runs a tech fund with monthly income
- Neutral Sentiment: BlackRock commentary indicated that investors are moving away from the traditional 60/40 portfolio mix. This could benefit alternative assets and broader product diversification, but it also signals changing allocation preferences that may pressure conventional fixed-income and equity strategies. Investors are moving away from the 60/40 portfolio mix
- Negative Sentiment: The Rosen Law Firm announced an investigation into potential securities claims involving BlackRock mutual funds, alleging that investors may have received materially misleading information. The notice does not establish wrongdoing, but it adds litigation and reputational risk that could weigh on sentiment. BlackRock investor legal investigation
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. BNP Paribas Exane increased their price target on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Bank of America lifted their price objective on BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Evercore reaffirmed an “outperform” rating and issued a $1,260.00 target price on shares of BlackRock in a report on Monday, August 10th. Finally, Keefe, Bruyette & Woods downgraded BlackRock from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average target price of $1,311.06.
View Our Latest Research Report on BLK
BlackRock Company Profile
BlackRock, Inc is a global investment management and financial technology company serving institutional and individual investors, governments, and financial professionals. The company offers a range of investment products and services, including mutual funds, exchange-traded funds, separately managed accounts, and alternative investments across equities, fixed income, multi-asset, and other strategies.
BlackRock is also known for its iShares brand of exchange-traded funds, which provides access to markets and asset classes worldwide.
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